TASI Index Elliott Wave Technical Analysis
The daily Elliott Wave analysis of the TASI Index indicates the continuation of an impulsive trend, currently in gray wave 3. The overall structure suggests a bullish movement, with gray wave 2 already completed, and the market now advancing through gray wave 3. This analysis implies that the upward trend is likely to persist as part of a larger impulsive move.Within this wave count, the current position is in orange wave 3, which is a sub-wave of gray wave 3. This phase marks a strong upward push, following the completion of the earlier corrective phase (gray wave 2). The market is expected to continue rising until gray wave 3 completes, at which point it will transition into the next corrective phase, gray wave 4.For now, the upward trend remains dominant as gray wave 3 is still active. However, if the market price drops below the invalidation level of 11345.065, the current wave structure will be invalidated, and a reevaluation of the market direction will be necessary. Until then, the bullish wave scenario continues to hold.Summary:
TASI Index Elliott Wave Technical Analysis
The weekly Elliott Wave analysis of the TASI Index indicates the continuation of an impulsive trend, with orange wave 3 currently in progress. The overall structure points to a bullish movement, as orange wave 2 has been completed and the market is advancing through orange wave 3. This phase of the wave count suggests strong upward momentum, as wave 3 typically represents a significant portion of a trending move within the Elliott Wave structure.At present, the market is progressing through navy blue wave 3, a sub-wave of the larger orange wave 3. The completion of orange wave 2 has set the stage for this upward movement, with orange wave 3 now driving the market higher. Once orange wave 3 completes, the market is expected to transition into orange wave 4, which will represent the next corrective phase of this trend. However, the market remains in an impulsive upward phase for now.The invalidation level for this wave count is 11345.065. A drop below this level would invalidate the current wave structure, signaling that the impulsive wave scenario may no longer be valid. As long as the market remains above this level, the bullish trend driven by orange wave 3 is expected to continue.Summary:
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