Brambles Limited, listed on the Australian Stock Exchange (ASX) as BXB, is currently being analyzed using Elliott Wave technical analysis. The analysis suggests that BXB could potentially continue to rise with a v-grey wave. The major trend is seen at the Minuette degree in orange, with a motive mode and impulse structure. The position indicates that the v-grey wave is unfolding and may push up to Major Level 20.00. It appears that the v-grey wave is expanding and subdividing into wave ((3))-navy of the v-grey wave to move higher. The invalidation point for this analysis is set at 17.99.
Further analysis on a four-hour chart shows that the major trend is at the Minute degree in navy, also with a motive mode and impulse structure. Since the low at 17.32, the v-grey wave is believed to be unfolding to continue pushing higher. It is currently subdividing into wave ((1))-navy and wave ((2))-navy, both of which have completed. Wave ((3))-navy is now in progress and may push up to the high at Major Level 20.00. The invalidation point for this scenario is also at 17.99.
In conclusion, the analysis and forecast provided for ASX: BRAMBLES LIMITED – BXB aim to offer readers valuable insights into market trends and potential trading opportunities. The detailed analysis, along with specific price points for validation and invalidation signals, is intended to enhance confidence in the analysis. By combining these elements, readers are presented with an objective and professional perspective on current market conditions. This analysis is part of an ongoing effort to provide the most accurate and informative outlook on market trends for traders and investors.
