National Australia Bank Limited Elliott Wave forecast [Video]

Peter Mathers TradingLounge

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 NAB.ASX looking to push higher with wave (iii)-orange.

ASX: NAB Elliott Wave technical analysis

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

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

Details: Wave (ii)-orange seems to have just finished as an Expanded Flat, and wave (iii)-orange seems to be unfolding to push higher. While price must remain above 34.67 to maintain this view.

Invalidation point: 34.67.

ASX: NAB Elliott Wave technical analysis

Function: Major trend (Minuette degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Wave ((2))-navy of Wave (iii)-orange.

Details: Wave (ii)-orange just ended at the 34.67 low and wave (iii)-orange is unfolding to push higher. It is subdividing into wave ((1))-navy itself, and it has ended, wave ((2))-navy looks to be unfolding to push a bit lower, then wave ((3))-navy will return to push higher.

Invalidation point: 34.67.

NAB four-hour chart analysis

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]

Author

Peter Mathers

TradingLounge

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

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