Mineral Resources Limited – MIN Elliott Wave technical analysis [Video]

MIN Elliott Wave technical analysis

ASX-listed MINERAL RESOURCES LIMITED (MIN) is the subject of our updated Elliott Wave analysis. Our view suggests a strong upside potential as the major Wave 4 correction has likely ended. We now anticipate the beginning of Wave 5. This analysis outlines target zones and critical invalidation levels.

One-day chart (semilog scale) analysis

• Function: Major Trend (Intermediate Degree, Orange).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3 (Orange) of Wave 5 (Navy).

A significant corrective wave has finished at the 14.05 low, setting the stage for a renewed motive wave moving higher. The next potential price target lies between $50.00 and $80.00. For the bullish view to stay valid, prices must remain above the 14.05 level. A drop below 18.47 doesn’t cancel the bullish setup but implies a longer Wave 2 (Orange) phase, which may lead into Wave 3 (Orange) progressing higher.

Invalidation point: 14.05

Four-hour chart analysis

• Function: Major Trend (Intermediate Degree, Orange).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3 (Orange).

Looking at the 4-hour chart, Wave 1 (Orange) completed as a five-wave structure, bottoming at 14.05. Wave 2 (Orange) followed with a Double Zigzag correction and finished at 18.47. This indicates that Wave 3 (Orange) is starting a new upward move, aiming at 53.28. The move under 18.47 shows a longer correction for Wave 2 but does not invalidate the bullish forecast.

Invalidation point: 14.05.

Conclusion

This technical forecast for MINERAL RESOURCES LIMITED (MIN) includes trend analysis, short-term projections, and key price zones that either confirm or challenge the Elliott Wave count. Our aim is to support traders with objective, professional insights based on wave theory and price behavior.