Wave (2) – Orange may have completed at the 32.360 level, forming an Expanded Flat labeled A, B, C – Grey. Wave C – Grey shows a five-wave structure. As a result, Wave (3) – Orange may now be developing to the upside.

Invalidation point: 32.360.

NAB Elliott Wave technical analysis

Function: Major Trend (Minor Degree – Grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((iii)) – Navy of Wave (3) – Orange.

Details:

Following the 32.360 low, Wave (3) – Orange appears to be unfolding, subdivided into waves ((i)) – Navy and ((ii)) – Navy, likely completed. Wave ((iii)) – Navy is now progressing upwards, with a target near 36.83.

Invalidation point: 132.76.

Conclusion

This analysis offers a contextual forecast and near-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED – NAB, helping traders identify current market dynamics and strategic opportunities. Key price points serve as validation or invalidation markers to strengthen the wave count's reliability. Combined with professional interpretation, this perspective is designed to support informed trading decisions.

Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

NAB Elliott Wave technical analysis [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.

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