Transurban Group Elliott Wave technical forecast [Video]
|TCL Elliott Elliott Wave technical analysis
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with TRANSURBAN GROUP - TCL. We see TCL.ASX about to enter a bull market with wave (iii)-orange.
ASX: TCL one-day chart analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave (ii)-orange of Wave 3-grey.
Details: Wave (i)-orange has just completed, and wave (ii)-orange is unfolding to push lower as a Zigzag. Then wave (iii)-orange could return to push higher. A push above 13.10 would be the first step to show that wave (iii)-orange is unfolding.
Invalidation point: 11.92.
ASX: TCL four-hour chart analysis
Function: Major trend (Minuette degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5))-navy of Wave c-grey of Wave (ii)-orange.
Details: Wave (i)-orange has finished as a five-wave, and wave (ii)-orange is developing as a zigzag labeled a,b,c-grey. Basically, wave a,b-grey has finished, and wave c-grey is also close to or has finished. The push above 13.00 is the first step to show that wave (iii)-orange is really unfolding to push higher.
Invalidation point: 11.92.
Key point: 13.00.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: TRANSURBAN GROUP - TCL 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.
Transurban Group Elliott Wave technical forecast [Video]
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