Brambles Limited Elliott Wave technical forecast [Video]

ASX: BRAMBLES LIMITED - BXB Elliott Wave technical analysis

Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BRAMBLES LIMITED - BXB. We anticipate a slight drop in BXB in the near future, followed by a stronger upward movement in the third wave.

ASX: BXB one-day chart (Semilog Scale) analysis

• Function: Major trend (Minuette degree, orange).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave (iii) - orange.

• Details: Wave (ii) - orange appears to have bottomed at 13.82, and Wave (iii) - orange is now in progress, pushing higher. I'm looking for a Setup Long Trade.

• Invalidation point: 13.82.

ASX: BXB four-hour chart analysis

• Function: Major trend (Minuette degree, orange).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave i - grey of Wave (iii) - orange.

• Details: Wave i - grey is nearing completion, with Wave ii - grey expected to unfold and push lower. I will analyze Wave 2 in detail to identify a long-term trading setup, targeting a push upward in Wave 3.

• Invalidation point: 13.82.

Conclusion

Our analysis and forecast of contextual trends, alongside the short-term outlook for ASX: BRAMBLES LIMITED - BXB, aim to provide insights into current market trends and effective capitalization strategies. We offer specific price points that serve as validation or invalidation signals for our wave count, thereby enhancing the confidence in our perspective. By integrating these factors, we strive to provide the most objective and professional view on market trends.

Brambles Limited Elliott Wave technical forecast [Video]