BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BRAMBLES LIMITED - BXB. We see ASX:BXB could be about to push higher with a ((3))-navy wave.

BRAMBLES LIMITED - BXB 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minuette degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave ((2))-navy of Wave v-grey

Details: The v-grey wave may be extending, and it is close to completing the ((2))-navy wave itself, after which the ((3))-navy wave may push higher.

Invalidation point: 17.80

BRAMBLES LIMITED - BXB 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave (y)-orange of Wave ((2))-navy

Details: Wave ((1))-navy of the v-grey wave has completed, and wave ((2))-navy is pushing a little lower, it is probably developing as a complex Double Three and needs a little more time to complete its entire wave (y)-orange. Then wave ((3))-navy will return to push higher. Or when price breaks strongly above the 19.65 high, it will also suggest wave ((3))-navy is unfolding.

Invalidation point: 17.80

Cofirmation point: 19.65

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for BRAMBLES LIMITED - BXB aim 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.

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

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