National Australia Bank Limited Elliott Wave forecast [Video]

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB . We see that wave (iii)-orange of wave ((v))-navy is opening up to push even higher. The most recent Long Trade position at Trade Recommendations generated quite good profits.

ASX: NAB Elliott Wave technical analysis  

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave iii-grey of Wave (iii)-orange of Wave ((v))-navy.

Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher. Wave ((3))-navy of iii-grey continues to open, if it penetrates the 36.50 level, it will continue towards the 37.20 level. The Long position has had quite good profits.

Invalidation point: 34.83.

NAB  four-hour chart analysis

Function: Major trend (Minuette degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Wave ((5))-navy of Wave iii-grey of Wave (iii)-orange.

Details: The short-term outlook shows that wave iii-grey is opening, it is subdividing into wave ((3))-navy, and has just ended, wave ((4))-navy opened and seems to have ended. momentum, now is the time for wave ((5))-navy to continue pushing higher, aiming for a target of 36.50 or beyond, while the price must always maintain above 35.82.

Invalidation point: 35.80.

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

National Australia Bank Limited Elliott Wave forecast [Video]