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

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