ASX: ASX LIMITED – ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) ASX LIMITED – ASX . We see ASX LIMITED could soon move higher with wave ((iii))-navy.ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 1D Chart (Semilog Scale) AnalysisFunction: Major (Minor degree, gray)
Mode: Motive
Structure: Impulse
Position: Wave (y)-orange of Wave ((ii))-navy of Wave 3-grey
Details: Wave ((ii))-navy is extending to push lower as a Double Three, it could target the lows of 59.90 – 58.40, then wave ((iii))-navy could turn around to push higher. While price must stay above the high of 56.54 to maintain this view. Invalidation point: 56.54
ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 4-Hour Chart AnalysisFunction: Major Trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (y)-orange of Wave ((ii))-navy Details: The 4H chart shows that the ((ii))-navy wave is unfolding in more detail, it is developing as a Double Three, and the (y)-orange wave is like developing as a Zigzag. It may end soon when it finds support around 61.8%, after which the ((ii))-navy wave may return to push higher. While price must stay above the high of 56.54 to maintain this view. I will look for a Long Trade Setup with Medium Level 65.00. Invalidation point: 56.54
Conclusion:Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED – ASX aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.Technical Analyst: Hua (Shane) Cuong, CEWA-MMore By This Author:USDJPY Forex Elliott Wave Technical Analysis – Thursday, August 29
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