Insurance Australia Group Limited – IAG analysis and Elliott Wave technical forecast [Video]

ASX: Insurance Australia Group Limited – IAG\

Elliott Wave technical analysis – TradingLounge

Today's Elliott Wave analysis updates the Australian Stock Exchange (ASX) outlook for INSURANCE AUSTRALIA GROUP LIMITED – IAG. Based on our review, ASX:IAG appears to be completing a B-grey wave and is likely setting up for another downward movement. This current formation does not support a bullish trend, making long positions less favorable under present conditions.

One-day chart (semilog scale) analysis

• Function: Major trend (Minor degree, grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave C-grey.

Details:

Wave 3-orange has concluded as a complete five-wave sequence. Now, wave 4-orange is developing downward as a Zigzag labeled A, B, C-grey. Wave A-grey has finished, and wave B-grey has most likely ended as an Expanded Flat. Currently, wave C-grey seems to be pushing downward, aiming for a target around 7.79.

Invalidation point: 9.03.

Elliott Wave technical analysis – TradingLounge (Four-hour chart)

• Function: Major trend (Minor degree, grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave C-grey.

Details:

At a closer interval, the A and B-grey waves have completed. Following the 9.03 high, a decline appears to be underway as part of wave C-grey. The initial target is 7.79, with possible extended downside levels at 7.42 to 7.10. The analysis remains valid only if the price stays below the 9.03 threshold

Conclusion

Our current analysis and near-term forecast for ASX: IAG present a measured perspective on market direction. We define clear validation and invalidation levels to enhance decision-making confidence. With these technical insights, we aim to deliver the most accurate and neutral view of ASX trading scenarios.

Insurance Australia Group Limited – IAG analysis and Elliott Wave technical forecast [Video]