S&P/ASX 200 Elliott Wave Analysis Trading Lounge Day ChartS&P/ASX 200 Elliott Wave Technical Analysis
Details:
Gray wave 2 appears completed, and gray wave 3 is now in progress.
Market Analysis OverviewThis analysis evaluates the S&P/ASX 200 index using Elliott Wave theory on a daily chart, identifying a bullish trend with an impulsive mode.Key Wave Structure:
Next Market MovementsThe upward trend is expected to continue with gray wave 3 advancing further. This impulsive phase signals additional gains as the bullish momentum strengthens.Invalidation LevelA critical invalidation level is set at 8,066.9. If the index drops to this level, the current wave count and bullish outlook will no longer hold, necessitating a reassessment of the trend and potential adjustments to trading strategies. This benchmark is essential for risk management and position monitoring.ConclusionThe Elliott Wave analysis indicates the S&P/ASX 200 index is in a bullish phase, with gray wave 3 unfolding:
Overall, the index is expected to sustain its bullish trajectory, presenting opportunities for further gains as gray wave 3 develops.S&P/ASX 200 Elliott Wave Analysis Trading Lounge Weekly ChartS&P/ASX 200 Elliott Wave Technical Analysis
Details:
Gray wave 2 appears completed, and gray wave 3 is now in progress.
Market Analysis OverviewThis analysis evaluates the S&P/ASX 200 index using Elliott Wave theory on a weekly chart, emphasizing a bullish trend in an impulsive mode.Key Wave Structure:
Next Market MovementsThe bullish momentum is expected to continue with gray wave 3 advancing further. Upon its completion, the market is likely to transition into gray wave 4, a corrective phase.Invalidation LevelThe invalidation level for this wave structure is 8,066.9. If the index falls to this level, the current wave count and bullish outlook would be invalidated, requiring a reassessment of trading strategies. This benchmark is essential for monitoring risk and validating the trend.ConclusionThe Elliott Wave analysis confirms the S&P/ASX 200 index is in a bullish phase, driven by gray wave 3:
The analysis forecasts further gains within gray wave 3 before transitioning to the corrective phase of gray wave 4. This insight provides a valuable guide for traders to align their strategies with the broader market trend.Technical Analyst : Malik AwaisMore By This Author:
