Elliott Wave Technical Analysis - CSX Corporation
CSX Elliott Wave Analysis Trading Lounge
CSX Corp., (CSX) Daily Chart
CSX Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Complex
POSITION: Wave Y of (4).
DIRECTION: Bottom into wave Y.
DETAILS: Looking for completion into wave Y, to ideally break the bottom of wave {a} and reach equality of Y vs. W at 27$.
CSX Corp., (CSX) 1H Chart
CSX Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Complex
POSITION: Wave (iv) of {c}
DIRECTION: Downside into wave (v).
DETAILS: Looking for further downside into wave (v) as we seem to be completing a triangle in wave (iv) right around MG2 of30$ at 32-33$.
This Elliott Wave analysis of CSX Corp., (CSX) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.
* CSX Elliott Wave Technical Analysis – Daily Chart*
CSX Corp. (CSX) is currently in a complex corrective pattern, unfolding in wave Y of (4). This correction is expected to complete soon, potentially breaking the low of wave {a}. We are targeting a move down to the equality level of Y vs. W, which lies around $27, marking the potential bottom of this correction.
* CSX Elliott Wave Technical Analysis – 1H Chart*
On the 1-hour chart, CSX is approaching the final stages of a triangle formation in wave (iv) of {c}. We expect a further downside movement into wave (v) once this triangle completes. The price is hovering around the MG2 level at $32-33, and the next move should push lower, potentially marking the final leg of this corrective phase.
Technical Analyst : Alessio Barretta
More By This Author:
Elliott Wave Technical Forecast: Newmont Corporation
Elliott Wave Technical Analysis: Australian Dollar/U.S. Dollar - Thursday, Feb. 13
Elliott Wave Technical Analysis - DAX Index
At TradingLounge™, we provide actionable Elliott Wave analysis across over 200 markets. Access live chat rooms, advanced AI & algorithmic charting tools, and curated trade ...
more