ASX: WOODSIDE ENERGY GROUP LTD (WDS) - Elliott Wave Technical Analysis

ASX: WOODSIDE ENERGY GROUP LTD - WDS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WOODSIDE ENERGY GROUP LTD - WDS. We ascertain that wave ((iv))-green is evolving as a Triangle Correction, and its wave (c)-purple may continue to rise a bit further. And after the entire Triangle Correction concludes with wave ((iv)), wave ((v))-green will return to push lower.

ASX: WOODSIDE ENERGY GROUP LTD - WDS Elliott Wave Technical Analysis  

ASX: WOODSIDE ENERGY GROUP LTD - WDS 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minute degree, green)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-green

Details: The short-term outlook suggests that wave ((iv))-green has been initiated, with expectations of it forming a corrective Triangle pattern. Therefore, it can be inferred that wave ((iv)) will likely continue to move sideways for some time before wave ((v))-green resumes to push lower.
Invalidation point: 33.08

WDS-1day-ASX-chart-2...


 

ASX: WOODSIDE ENERGY GROUP LTD - WDS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: WOODSIDE ENERGY GROUP LTD - WDS Elliott Wave Technical Analysis

ASX: WOODSIDE ENERGY GROUP LTD - WDS 4-Hour Chart Analysis

Function: Counter trend (Minuette degree, purple)

Mode: Corrective

Structure: Triangle

Position: Wave (c)-purple

Details: The shorter-term outlook further describes the detailed subdivisions of wave ((iv))-green as a Triangle Correction. Waves (a) and (b)-purple have been completed, and now wave (c)-purple is unfolding. Typically, wave (c) exhibits a common retracement ratio compared to wave (a) within a Triangle Correction, and the target for this ratio is around 31.36. Therefore, we can expect wave (c) to rise to test that resistance level.

Invalidation point: 33.08

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: FORTESCUE LTD – FMG aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

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

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: ASX: FORTESCUE LTD – FMG

TradingLounge Once Off SPECIAL DEAL: Here > 1 month Get 3 months.

WDS-4Hr-asx-chart-27...

Related

Comprehensive Elliott Wave Analysis for Leading NASDAQ Tech Stocks and S&P 500

Comprehensive Elliott Wave Analysis for Leading NASDAQ Tech Stocks and S&P 500

tay ahead in the financial markets with our expert Elliott Wave Analysis tailored for NASDAQ Tech St...

Read More >
Elliott Wave Analysis of AAVE (AAVEUSD): Downtrend Continuation, Support and Resistance Levels for Crypto Swing Traders

Elliott Wave Analysis of AAVE (AAVEUSD): Downtrend Continuation, Support and Resistance Levels for Crypto Swing Traders

Elliott Wave analysis examines AAVE/USD price trends, identifying a downtrend continuation within a ...

Read More >
Gain Valuable Insights into Potential Market Movements JPMorgan Equity Premium Income ETF – JEPI Elliott Wave Technical Analysis

Gain Valuable Insights into Potential Market Movements JPMorgan Equity Premium Income ETF – JEPI Elliott Wave Technical Analysis

This JEPI Elliott Wave analysis provides an in-depth look at the current stock market trends, highli...

Read More >
Valuable Forex Trading Strategies For U.S. Dollar / Swiss Franc Currency Pair with USDCHF Elliott Wave Technical Analysis

Valuable Forex Trading Strategies For U.S. Dollar / Swiss Franc Currency Pair with USDCHF Elliott Wave Technical Analysis

This article provides a thorough USDCHF analysis based on Elliott Wave theory, covering daily and 4-...

Read More >
ADANI PORTS and SEZ Indian Stocks Elliott Wave Technical Analysis: Share Price Insights, Market Trends, and Forecasts

ADANI PORTS and SEZ Indian Stocks Elliott Wave Technical Analysis: Share Price Insights, Market Trends, and Forecasts

Elliott Wave analysis of ADANI PORTS, focusing on key technical insights, price predictions, and pot...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on