ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

[tradinglounge]

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX. We observe that ASX LIMITED is approaching the end of wave 2-grey, but needs more evidence on price action for confirmation, also allowing wave 3-grey to be opened to push higher thereafter.

 

ASX: ASX LIMITED - ASX  Elliott Wave Technical Analysis  

ASX: ASX LIMITED - ASX  1D Chart (Semilog Scale) Analysis

Function: Major (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave 3-grey  
Details: The short-term outlook shows some evidence that wave 2-grey has ended. Wave 3-grey appears to be unfolding to push higher.

Invalidation point: 58.17

 

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 Analysis

Function: Major Trend (Minor degree, grey)
Mode: Motive  
Structure: Impulse
Position: Wave iii-grey of Wave (iii)-orange

Details: The shorter-term outlook shows that wave (iii)-orange is unfolding, and it is subdividing into waves i,ii,iii-grey; Now wave iii-grey continues to push higher, aiming for targets like 62.07 or 62.99 or even beyond.

Invalidation point: 59.06

 

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-M (Master’s Designation).

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