The bullish scenario here is the same as the Dow and Nasdaq.
The ASX is not as big but the same waves apply in this instant.
If we are in Green Wave 3 of Wave (C) then a break of the magenta line would be confirmation.
Please Note: All ideas are best effort at the time of posting and are subject to change at anytime due to the fractal nature of patterns. I use AriasWave methodology which is NOT Elliott Wave. I will only change view when there is enough evidence.