Swiss Market Index Elliott Wave Analysis – Trading Lounge Day ChartSwiss Market Index Elliott Wave Technical Analysis
The Swiss Market Index (SMI) is currently in a bullish trend, as analyzed using Elliott Wave Theory on the daily chart. The market is in an impulsive phase, defined by the progression of orange wave 3 within the broader navy blue wave 3 structure. The completion of orange wave 1 has initiated orange wave 3, signifying strong upward momentum.Orange wave 3 is a pivotal phase in the Elliott Wave sequence, often characterized by dynamic and extended price movements within an impulsive trend. Upon its progression, the market is expected to transition into the next corrective phase, adhering to the natural alternation of impulsive and corrective waves within the larger structure.An invalidation level has been established at 11,245.31. Should the price fall below this threshold, the current wave structure will no longer hold valid, requiring a reassessment of the analysis. This level serves as a critical benchmark for confirming or invalidating the ongoing bullish trend.Summary:
Swiss Market Index Elliott Wave Analysis – Trading Lounge Weekly ChartSwiss Market Index Elliott Wave Technical Analysis
The Swiss Market Index (SMI) is currently in a bullish trend, as identified through Elliott Wave Analysis on the weekly chart. The market is progressing through an impulsive phase, marked by the development of orange wave 3, which forms part of the broader navy blue wave 3 structure. The completion of orange wave 1 has initiated the strong upward momentum of orange wave 3.Within the Elliott Wave framework, orange wave 3 is a pivotal phase, often characterized by dynamic and extended price movements in a bullish trend. This wave reflects the sustained strength of the market and plays a significant role in the broader impulsive structure. As orange wave 3 advances, it establishes the groundwork for potential corrective phases or continued impulsive moves in alignment with the overall bullish trend.An invalidation level has been defined at 11,245.31. If the price drops below this threshold, the current wave interpretation will be invalidated, requiring a reevaluation of the wave structure. This level is a critical benchmark for ensuring the reliability and accuracy of the analysis.Summary:
Technical Analyst: Malik Awais
