ASX: BRAMBLES LIMITED – BXB Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BRAMBLES LIMITED – BXB. We see that BXB seems to have completed wave (ii)-orange, but needs to push a little higher to confirm this view. And wave (iii)-orange may return to push higher.ASX: BRAMBLES LIMITED – BXB Elliott Wave Technical Analysis ASX: BRAMBLES LIMITED – BXB 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange
Details: The short-term outlook shows some evidence that wave (ii)-orange has ended, wave c-grey has fully broken down into 5 waves. A push above 14.60 would renew this bullish view.
Invalidation point: 12.70Confirmation point: 14.60
ASX: BRAMBLES LIMITED – BXB Elliott Wave Technical Analysis
TradingLounge (4-Hour Chart)ASX: BRAMBLES LIMITED – BXB Elliott Wave Technical AnalysisASX: BRAMBLES LIMITED – BXB 4-Hour Chart AnalysisFunction: Major trend (Sub minuette degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((2))-navy of Wave i-greyDetails: The shorter-term outlook suggests that wave c-grey of wave (ii)-orange appears to have completed its five-wave structure, indicating that it might have ended, and wave (iii)-orange could be resuming to push higher. However, it is too early to draw a definitive conclusion. The price needs to move above 14.60 to clarify this view, while it must remain above 13.88 to keep this wave count valid.
Invalidation point: 13.88Confirmation point: 14.60
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: BRAMBLES LIMITED – BXB 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 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-M (Master’s Designation).More By This Author:Elliott Wave Technical Analysis: Gold – Monday, June 3
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