Swiss Market Index Elliott Wave Technical Analysis
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By tradinglounge · Posted
Natural Gas Elliott Wave Analysis Natural Gas is recovering fast from the low in late August. The commodity is near the highs of June & January 2024 and the late October 2023 high and will most likely hit or breach these highs in the coming weeks. However, this bullish run from October 2023 is part of the larger bullish correction from the February 2024 low. Thus, while the bullish correction persists, short-term traders can continue to buy from the low of pullbacks until it reaches the 2.65-3.37 zone which can act as a resistance. On the daily chart, the price is correcting the impulse wave bearish run from the high of August 2022 when the commodity traded for around $10. This impulse structure has been labeled as wave a of the cycle degree. From 1.522 where cycle degree wave a, the corresponding wave began. Wave b cycle degree is expected to be a corrective structure. Price has already completed primary degree waves A & B (circled) of c in June and August 2024 respectively. From the August low, primary degree wave C (circled) of b emerges into an impulse structure. By projection, wave C (circled) could extend as much as 3.53 and even higher to 4.17. With this potential, short-term traders can continue to buy pullbacks on the hourly charts. The H4 chart shows the sub-waves of C (circled) and how far it’s gone. Price is currently in wave 5 of (3) of C (circled). The next pullback will be for wave (4) and if it’s corrective, could be an opportunity to buy from the dip again. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
CAT Elliott Wave Analysis Trading Lounge Daily Chart, Caterpillar Inc., (CAT) Daily Chart CAT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute {iii}. DIRECTION: Upside into wave (v) of {iii}. DETAILS: Looking for continuation higher within wave {iii}, which could eventually reach 500$. CAT Elliott Wave Analysis Trading Lounge 1H Chart, Caterpillar Inc., (CAT) 1H Chart CAT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave iii. DIRECTION: Micro wave 5 of iii. DETAILS: Looking for at least one more leg higher within wave iii as we seem to have been correcting in micro wave 4 and are now resume higher towards 400$. This analysis focuses on the current trend structure of Caterpillar Inc. (CAT), utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock's position and potential future movements. * CAT Elliott Wave Technical Analysis – Daily Chart* On the daily chart, Caterpillar Inc. is advancing in an impulsive motive structure within Minute Wave {iii}. The stock is progressing higher and currently in Wave (v) of {iii}. This suggests that there is further upside potential, with $500being the projected target for the completion of Wave {iii}. The stock continues to exhibit strong bullish momentum, and traders should look for continuation higher, particularly as the move approaches critical resistance levels. * CAT Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, Caterpillar appears to be progressing within Wave iii, and specifically within Micro Wave 5 of iii. After completing a corrective phase in Micro Wave 4, the stock is now resuming its upward movement, with the next upside target likely around $400. This final leg within Wave iii suggests at least one more push higher before a potential corrective phase begins. Traders should watch for any resistance near $400, which could trigger some short-term consolidation before further upside. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
NESTLE INDIA – NESTLEIND (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iii)) Navy Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050. Invalidation point: 2450 NESTLE India Daily Chart Technical Analysis and potential Elliott Wave Counts: NESTLE India daily chart is progressing higher to terminate its fifth wave at multiple degrees as marked here with potential target towards 3050 mark. The stock is subdividing within Minor Wave 5 Grey as Minute Wave ((iii)) poised to push through 2900 zone. The stock carved a low around 1600 in May 2022, Intermediate Wave (4) Orange. The subsequent rally has subdivided into five Minor Waves 1 through 5, with bulls progressing within the last leg against 2330; Minor Wave 4 low registered on June 04, 2024. If the above holds well, the stock is now unfolding Minor Wave 5 and is within Minute Wave ((iii)) at the time of writing. Prices should ideally stay above 2600 levels to hold the above impulse. NESTLE INDIA – NESTLEIND (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iii)) Navy Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050. Furthermore, Minuette Waves (i) through (v) Orange, are unfolding to complete Minute Wave ((iii)) Navy towards 2910. Invalidation point: 2450 NESTLE India 4H Chart Technical Analysis and potential Elliott Wave Counts: NESTLE India 4H chart highlights the sub waves within Minor Wave 4 between 2770 and 2600, a potential zigzag at Minute degree. Further Minute Wave ((ii)) within Minor Wave 5 was a combination. The recent price action suggests Minute Wave ((iii)) progressing higher towards 2900-10 zone against 2450. Conclusion: NESTLE India is progressing higher towards 3050 levels as Minute Wave ((iii)) Navy unfolds within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
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