IAG Elliott Wave technical forecast [Video]
By: bitcoin ethereum news|2025/05/05 13:45:01
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IAG Elliott Wave technical analysis Today’s Elliott Wave update covers the Australian Stock Exchange (ASX) and INSURANCE AUSTRALIA GROUP LIMITED – IAG. Our analysis indicates that ASX:IAG is finalizing a B-grey wave and is setting up for another decline. At this stage, there are no clear signs of a bullish trend developing, making it risky to consider a long setup. Function: Major Trend (Minor Degree, Grey). Mode: Motive. Structure: Impulse. Position: Wave c)) – navy of Wave B – grey. Details: Wave 3) – orange has completed a full five-wave structure. Currently, wave 4) – orange is developing lower as a Zigzag pattern, labeled A, B, C – grey. Wave A – grey has completed, and wave B – grey is advancing higher as an Expanded Flat pattern. The c)) – navy of wave B – grey is anticipated to reach around 8.25–8.46 levels. Invalidation point: End of Wave b)) – navy. Function: Major Trend (Minor Degree, Grey). Mode: Motive. Structure: Impulse. Position: Wave c)) – navy of Wave B – grey. Details: Zooming in, from the 7.420 level, wave B – grey is developing as an Expanded Flat, indicating a sideways movement with low momentum. Wave b)) – navy appears more complex than wave a)) – navy, and wave c)) – navy is stronger than both previous subwaves, a typical feature of a Flat pattern. Prices are likely to rise towards 8.25–8.46 levels before the end of wave B – grey and the start of a wave C – grey decline. Conclusion Our analysis offers insights into ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG’s current trends, equipping readers with key price levels to validate or invalidate the wave count. This structured approach strengthens the confidence in our market outlook. Our goal is to deliver a professional and objective market view. Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). IAG Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/iag-elliott-wave-technical-forecast-video-202505050507
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