Insurance Australia Group Limited Elliott Wave forecast [Video]

ASX: Insurance Australia Group Limited – IAG

Today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX), specifically INSURANCE AUSTRALIA GROUP LIMITED – IAG.

Our current outlook identifies ASX:IAG as still being in a corrective wave structure, with expectations for a slight move lower, potentially setting the stage for a rebound.

One-day chart (semilog scale) breakdown

• Trend Function: Major trend (Primary degree, navy).

• Mode: Motive.

• Wave Structure: Impulse.

• Current Position: Wave B-grey of Wave (4)-orange.

Details:

Wave (4)-orange continues its downward progression following the end of Wave (3)-orange. The decline may persist toward the 38.2% Fibonacci retracement level. Wave A-grey has already completed, and Wave B-grey is advancing slightly higher.

• Invalidation point: 7.40.

ASX: Insurance Australia Group Limited – IAG

Four-hour chart breakdown

• Trend Function: Major trend (Intermediate degree, orange).

• Mode: Motive.

• Wave structure: Impulse.

• Current position: Wave ((c))-navy of Wave B-grey.

Details:

Focusing on Wave B-grey, this wave appears to be forming a Flat, labeled ((a))((b))((c))-navy. The ((B))-navy wave has ended, and ((c))-navy is moving upward, potentially targeting the range of 8,063 to 8,271. However, a move below the 7.400 mark would indicate the start of Wave C-grey, suggesting a downward move.

• Invalidation point: 7.40

Conclusion

This analysis of ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG offers a contextual overview of the current market structure, combined with a near-term forecast. Specific price levels serve as confirmation or invalidation points for the wave count, improving the reliability of the analysis. Our goal is to deliver a clear, objective, and professional insight into market direction.

Insurance Australia Group Limited Elliott Wave forecast [Video]