ASX:QBE - 13 AUG, 2025 - ELLIOTT WAVE ANALYSIS

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Conclusion: Wave 2))-purple is moving lower.

Key Points: Wave 1))-purple ended at the high of 24.20, wave 2))-purple is unfolding towards 17.38 - 17.50. So there is no convincing evidence of a developing Bullish trend, instead it shows a downward move of the market.

On the other hand, I would only reconsider the bullish market view if the market moves above 24.20 quickly enough, strongly enough.

©By Hua Chi Cuong (Shane), CEWA-M | Certififed Elliott Wave Analyst - Master Level

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