National Australia Bank Limited Elliott Wave forecast [Video]

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: Since the low at 34.67, wave (iii)-orange is unfolding to push higher, which itself is subdividing into waves ((1)),((2))-navy and currently wave (1)-orange. Wave (2)-orange will soon unfold to push a little lower, and finally wave (3)-orange will return to push higher.

Invalidation point: 35.70.

NAB one-day chart

NAB four-hour chart analysis

Function: Major trend (Minuette degree, orange). 

Mode: Motive. 

Structure: Impulse. 

Position: Wave (2)-orange of Wave ((3))-navy of Wave (iii)-orange. 

Details: Wave ((3))-navy is unfolding to push higher, it itself subdivides into wave (1)-orange, price has pushed higher, so it may end soon, and wave (2)-orange will push lower a bit, finally wave (3)-orange will return and continue its work to push higher, aiming at the target at the upper edge of the Channel. 

Invalidation point: 35.70.

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]