Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with CSL LIMITED – CSL. We see that CSL may be moving higher with wave ((iii))-navy.
ASX: CSL Elliott Wave technical analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5))-navy of Wave iii-grey of Wave ((iii))-navy.
Details: Wave ((4))-navy has just ended and Wave ((5))-navy is unfolding to continue pushing higher. The previous Long Trade position is still performing well.
Invalidation point: 296.91.
CSL one-day chart
ASX: CSL four-hour chart analysis
Function: Major trend (Minuette degree, orange).
Mode: Motive.
Structure: Impulse.
Position:Wave((5))-navy of Wave iii-gray of Wave ((iii))-navy.
Details: Wave ((4))-navy has just ended and Wave ((5))-navy is unfolding to continue pushing higher.I think it will continue to move towards the target around 320.00 - 325.26; while price must remain above the low of 296.91 to maintain this view.
Invalidation point: 296.91.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: CSL LIMITED –CSL aims 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.
CSL Limited Elliott Wave technical forecast [Video]
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