ASX: SOUTH32 LIMITED – S32 Elliott Wave Analysis TradingLounge (1D Chart)

Greetings, today’s Elliott Wave analysis for the Australian Stock Exchange (ASX) SOUTH32 LIMITED – S32 focuses on the continued downward movement as part of the (Y)-orange wave.

ASX: SOUTH32 LIMITED – S32 Elliott Wave Technical Analysis

ASX: SOUTH32 LIMITED – S32 1D Chart (Semilog Scale) Analysis

Function: Major Trend (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave ((v))-navy of Wave A-gray

Details: Wave ((iv))-navy has likely completed as an Expanded Flat at the 3.17 high. Currently, wave ((v))-navy is in progress, pushing lower with a target near the 2.79 low. To maintain this bearish outlook, the price must stay below the 3.17 high.

Invalidation Point: 3.17

ASX: SOUTH32 LIMITED – S32 Elliott Wave Analysis TradingLounge (4-Hour Chart)

ASX: SOUTH32 LIMITED – S32 Elliott Wave Technical Analysis

ASX: SOUTH32 LIMITED – S32 4-Hour Chart Analysis

Function: Major Trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (i)-orange of Wave ((v))-navy

Details:
Wave ((v))-navy is progressing downward and subdividing into wave (i)-orange. After wave (i)-orange completes, wave (ii)-orange is expected to retrace higher before wave (iii)-orange resumes the downtrend toward the 2.79 low target.

Invalidation Point: 3.17

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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Conclusion:

Our Elliott Wave analysis for ASX: SOUTH32 LIMITED – S32 highlights short-term trends and key price levels, providing traders with clear actionable insights. The price levels mentioned serve as confirmation or invalidation points for our wave count, strengthening the reliability of our analysis. This structured approach gives traders a professional, data-driven perspective on the current market movements.