CSL Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

ASX: CSL Elliott Wave technical analysis (one-day chart)

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave (3) - orange of Wave ((3)) - navy of Wave iii - gray of Wave ((iii)) - navy.

Details: Wave (3) - orange is advancing, targeting 325.26, with the requirement that the price stays above 294.81. This view holds as long as the price does not dip below this level. The Long Trade position in CSL has been profitable and is expected to continue growing.

Invalidation point: 294.81.

ASX: CSL Elliott Wave technical analysis (four-hour chart)

Function: Major trend (Minuette degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Wave (3) - orange of Wave ((3)) - navy of Wave iii - gray of Wave ((iii)) - navy.

Details: Wave (3) - orange is still in an upward trajectory, aiming for 325.26, with the price needing to stay above 300.00 to maintain this outlook. The Long Trade position in CSL remains profitable and is poised for further gains.

Invalidation point: 300.00.

Conclusion

Our analysis provides a comprehensive forecast of CSL LIMITED – CSL’s market trends and short-term outlook. We highlight specific price points that act as validation or invalidation signals, bolstering confidence in our wave count. By integrating these elements, we offer an objective and professional perspective on market trends.

CSL Limited Elliott Wave technical forecast [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.