Insurance Australia Group Limited – IAG analysis and Elliott Wave technical forecast [Video]
Today, we update our Elliott Wave analysis for the Australian Stock Exchange (ASX) featuring INSURANCE AUSTRALIA GROUP LIMITED – IAG. Currently, ASX:IAG is nearing the completion of a B-grey wave and is setting up for another downward movement. There is no indication of a Bullish trend emerging, and it remains risky to consider a Long position at this stage.
ASX: Insurance Australia Group Limited – IAG one-day chart (semilog scale) analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave c))-navy of Wave B-grey.
Details:
Wave 3)-orange has finalized as a five-wave structure, and wave 4)-orange is unfolding lower in a Zigzag labeled A, B, C-grey.
Wave A-grey…
