Today's Elliott Wave analysis provides an update on the Australian Stock Exchange (ASX) focusing on CSL LIMITED (CSL).

There is significant upside potential in the third wave of ASX:CSL. This analysis will offer insights into possible trend reversals and highlight key price points that confirm when a bullish trend strengthens.

ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis

1D Chart (Semilog Scale) Analysis

• Function: Major Trend (Minute Degree, Navy)
• Mode: Motive
• Structure: Impulse
• Position: Wave ((iii)) - Navy
• Details:
  • Wave ((ii)) - Navy is forming a Flat (a)(b)(c) - Orange, indicating potential completion.
  • For confirmation, wave ((iii)) - Navy must push above 282.20 to validate the bullish outlook.
• Invalidation Point: 282.20
• Confirmation Point: 282.20

ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis (4-Hour Chart) – TradingLounge

4-Hour Chart Analysis

• Function: Major Trend (Minute Degree, Navy)
• Mode: Motive
• Structure: Impulse
• Position: Wave ((iii)) - Navy
• Details:
  • The ((ii)) - Navy wave ended at 253.04.
  • A ((iii)) - Navy wave may be emerging from this level.
  • Key Breakout Level: A move above 282.20 would confirm the bullish outlook and signal strong upside potential.
• Invalidation Point: 253.04

Conclusion

Our analysis and forecast offer a comprehensive perspective on ASX: CSL LIMITED (CSL). We identify market trends, key price levels, and potential entry points to help traders make informed decisions.

By providing specific price points as validation or invalidation signals, we enhance the confidence in our wave count. Combining these technical elements, our goal is to present an objective and professional outlook on CSL’s market trends.

Elliott Wave Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation)

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