TASI Index Elliott Wave Analysis Trading Lounge day chart.
TASI Elliott Wave technical analysis
-
Function: Bullish Trend.
-
Mode: Impulsive.
-
Structure: Gray wave 3.
-
Position: Orange wave 3.
-
Direction next lower degrees: Gray wave 4.
-
Details: Gray wave 2 is complete. Gray wave 3 is now active.
-
Wave cancel invalid level: 11324.751.
The Elliott Wave analysis for the TASI Index daily chart from Trading Lounge highlights a bullish trend, with the current movement following an impulsive wave pattern. Gray wave 3 is identified as the primary wave in progress, indicating strong upward momentum. Positioned within orange wave 3, this structure aligns with a broader bullish perspective, reflecting continued positive sentiment in the TASI Index.
The completion of gray wave 2 has paved the way for gray wave 3 to develop. Wave 3 is typically characterized by the strongest and most sustained momentum in the Elliott Wave cycle. The current position of gray wave 3 within orange wave 3 further supports the bullish outlook, with expectations for continued price increases as gray wave 3 unfolds.
A critical invalidation level is set at 11324.751, serving as a key reference point for the wave structure. If the TASI Index drops to or below this level, the current Elliott Wave analysis would be invalidated, indicating that the bullish trend may not persist. This could suggest a shift in market direction or the beginning of a corrective phase, necessitating a re-evaluation of the wave structure.
Summary
The analysis supports a bullish outlook for the TASI Index, with gray wave 3 actively driving the upward trend within the framework of orange wave 3. Traders should closely watch movements near the invalidation level at 11324.751, as a break below this point could challenge the bullish trend, signaling a potential reversal or correction. This level is a critical benchmark for assessing the integrity of the ongoing bullish structure.
TASI Index Elliott Wave Analysis Trading Lounge weekly chart.
TASI Elliott Wave technical analysis
-
Function: Bullish Trend.
-
Mode: Impulsive.
-
Structure: Orange wave 3.
-
Position: Navy blue wave 3.
-
Direction next lower degrees: Orange wave 4.
-
Details: Orange wave 2 is complete. Orange wave 3 is now active.
-
Wave cancel invalid level: 11324.751.
The Elliott Wave analysis for the TASI Index weekly chart from Trading Lounge reflects a bullish trend, driven by an impulsive wave structure. Orange wave 3 is currently developing within the broader navy blue wave 3 framework, signaling strong upward momentum. The impulsive nature of this wave structure supports a sustained positive outlook, with potential for additional gains as orange wave 3 progresses.
The completion of orange wave 2 has set the stage for the advancement of orange wave 3, which is a critical phase within the Elliott Wave cycle. Wave 3 typically represents the strongest and most dynamic movement in the trend, often characterized by significant upward price action. The alignment within navy blue wave 3 further reinforces the bullish outlook, suggesting continued positive momentum.
A vital invalidation level is set at 11324.751, acting as a key point of reference for this analysis. Should the index fall to or below this level, the current wave structure would be invalidated, potentially indicating a trend shift or the start of a corrective phase. This level serves as a benchmark for traders to evaluate the strength and sustainability of the current bullish trend.
Summary
This analysis indicates a bullish trajectory for the TASI Index, with orange wave 3 driving the upward trend as part of the larger navy blue wave 3 structure. Traders are advised to observe the index closely concerning the invalidation level at 11324.751. A decline below this threshold could signal a possible reversal or a need to reassess the trend structure. This level is critical for validating the continuation and strength of the ongoing bullish movement.
TASI Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD stays vulnerable near 1.0600 ahead of US inflation data
EUR/USD remains under pressure near 1.0600 in European trading on Wednesday. The pair faces headwinds from the US Dollar upsurge, Germany's political instability and a cautiou market mood, as traders look to US CPI data and Fedspeak for fresh directives.
GBP/USD trades with caution below 1.2750, awaits BoE Mann, US CPI
GBP/USD trades with caution below 1.2750 in the European session on Wednesday, holding its losing streak. Traders turn risk-averse and refrain from placing fresh bets on the pair ahead of BoE policymaker Mann's speech and US CPI data.
Gold price holds above $2,600 mark, bulls seem non committed ahead of US CPI
Gold price staged a modest recovery from a nearly two-month low touched on Tuesday. Elevated US bond yields and bullish USD cap gains for the non-yielding XAU/USD. Traders now look forward to the key US Consumer Price Index report a fresh impetus.
US CPI data set to confirm inflation ramped up in October as traders pare back Fed rate cut bets
As measured by the CPI, inflation in the US is expected to increase at an annual rate of 2.6% in October, a tad higher than the 2.4% growth reported in September. The core annual CPI inflation, excluding volatile food and energy prices, will likely remain at 3.3% in the same period.
Forex: Trump 2.0 – A high-stakes economic rollercoaster for global markets
The "Trump trade" is back in full force, shaking up global markets in the aftermath of the November 5th U.S. election. This resurgence has led to substantial shifts in both currency and bond markets, with the U.S. dollar index (DXY) jumping 2.0% + since election day.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.