TRENDING:

GBP/USD

XAU/USD

CSX Corp. (CSX) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

CSX Elliott Wave technical analysis – Daily chart

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {v} of 3.

Direction: Upside in wave {v}.

Details: Expecting continuation higher into wave {v} of 3, with wave {i} equality near $35.

CSX Elliott Wave technical analysis – One-hour chart

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (iv) of {v}.

Direction: Upside in wave (v).

Details: Anticipating one more upward leg in wave (v); potential extension likely as wave (iii) exceeded wave (i).

This analysis provides a technical overview of CSX Corp. (CSX) based on Elliott Wave Theory across two key timeframes.

CSX daily chart – Elliott Wave overview

On the daily chart, CSX continues its upward momentum through wave {v} of 3. This wave is progressing toward the $35 level, aligning with the size of wave {i}. The structure remains impulsive and suggests a strong bullish trend. Wave {v} usually completes the third wave in an Elliott Wave cycle, which is typically the most powerful segment, signaling potential further gains.

CSX one-hour chart – Elliott Wave breakdown

In the 1-hour chart, CSX is currently forming wave (iv) of {v}, likely setting up the final upward move in wave (v). Because wave (iii) extended beyond wave (i), wave (v) could also continue longer than average. This indicates a possibility of additional upside momentum following the short consolidation phase, possibly pushing the stock price past the $35 benchmark.

CSX Corp. (CSX) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD rebounds after falling toward 1.1700

EUR/USD gains traction and trades above 1.1730 in the American session, looking to end the week virtually unchanged. The bullish opening in Wall Street makes it difficult for the US Dollar to preserve its recovery momentum and helps the pair rebound heading into the weekend.

GBP/USD steadies below 1.3400 as traders assess BoE policy outlook

Following Thursday's volatile session, GBP/USD moves sideways below 1.3400 on Friday. Investors reassess the Bank of England's policy oıtlook after the MPC decided to cut the interest rate by 25 bps by a slim margin. Meanwhile, the improving risk mood helps the pair hold its ground.

Gold stays below $4,350, looks to post small weekly gains

Gold struggles to gather recovery momentum and stays below $4,350 in the second half of the day on Friday, as the benchmark 10-year US Treasury bond yield edges higher. Nevertheless, the precious metal remains on track to end the week with modest gains as markets gear up for the holiday season.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid bearish market conditions

Bitcoin (BTC) is edging higher, trading above $88,000 at the time of writing on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are following in BTC’s footsteps, experiencing relief rebounds following a volatile week.

How much can one month of soft inflation change the Fed’s mind?

One month of softer inflation data is rarely enough to shift Federal Reserve policy on its own, but in a market highly sensitive to every data point, even a single reading can reshape expectations. November’s inflation report offered a welcome sign of cooling price pressures.

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.