Introduction Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with SOUTH32 Limited.

SOUTH32 LIMITED (S32) - 1D Chart Analysis

S32 Analysis: Elliott Wave Technical Overview

Mode: Motive

Structure: Impulse

Position: Wave ((c)) - navy of Wave 2 - gray

Key Details:

  • Wave ((c)) - navy of wave 2 - gray is moving lower.
  • Potential support around the 3.32 level.
  • Price must stay below the 3.87 high to maintain this outlook.
  • Invalidation Point: 2.75

South32-Limited-1D-A...


SOUTH32 LIMITED (S32) - 4-Hour Chart Analysis

S32 Analysis: 4-Hour Chart Review

Function: Major Trend (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave (i) - orange of Wave ((c)) - navy of Wave 2 - gray

Key Details:

  • Wave ((c)) - navy is developing as a Zigzag.
  • Subdividing into wave (i) - orange of wave ((c)) - navy.
  • Expected to drop lower, then wave (ii) - orange pushes higher.
  • Finally, wave (iii) - orange completes the pattern.
  • Target for wave 2 - gray is 3.32.

Invalidation Point: 3.87

Conclusion Our analysis and short-term outlook for ASX: SOUTH32 Limited aim to provide insights into current market trends. We highlight specific price points that serve as validation or invalidation signals for our wave count, enhancing confidence in our perspective. Combining these factors, we strive to offer an objective and professional view of 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:  URW Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

South32-Limited-4hr-...

Related

Adani Green Energy Elliott Wave Analysis: Stock Forecast, Price Prediction, Technical Trends & Trading Strategy

Adani Green Energy Elliott Wave Analysis: Stock Forecast, Price Prediction, Technical Trends & Trading Strategy

Elliott Wave structure of Adani Green Energy stock, highlighting its corrective wave movement and ke...

Read More >
Anticipate Future NEO/USD Price Movements: NEO Crypto Price News Today Elliott Wave Technical Analysis

Anticipate Future NEO/USD Price Movements: NEO Crypto Price News Today Elliott Wave Technical Analysis

This article provides a detailed NEOUSD Elliott Wave analysis, highlighting the current market struc...

Read More >
Copper Elliott Wave Analysis: Technical Forecast with Bullish Outlook, Support Levels & Market Trends for Smart Trading Strategy

Copper Elliott Wave Analysis: Technical Forecast with Bullish Outlook, Support Levels & Market Trends for Smart Trading Strategy

This analysis provides a Copper Elliott Wave forecast with detailed technical insights, market trend...

Read More >
Eicher Motors Share Price Analysis: Elliott Wave Forecast, Technical Insights, Price Action, Stock Trends, and Investment Strategy

Eicher Motors Share Price Analysis: Elliott Wave Forecast, Technical Insights, Price Action, Stock Trends, and Investment Strategy

Eicher Motors highlights the stock's upward momentum using Elliott Wave principles. Key technica...

Read More >
HCL Technologies Elliott Wave Analysis - HCLTECH Stock Forecast, Technical Trends, Wave Structure, and Market Outlook

HCL Technologies Elliott Wave Analysis - HCLTECH Stock Forecast, Technical Trends, Wave Structure, and Market Outlook

HCL Technologies Elliott Wave Analysis, highlighting potential stock movements, price predictions, a...

Read More >
Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 7 November 23

Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 7 November 23

Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis on 7 November 23, COST Stock Mar...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

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

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

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

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • 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