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By tradinglounge · Posted
ASX: SOUTH32 LIMITED – S32 Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Today's Elliott Wave analysis provides an update on the Australian Stock Exchange (ASX) SOUTH32 LIMITED – S32. We observe S32 continuing to decline within 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, grey) Mode: Motive Structure: Impulse Position: Wave ((v))-navy of Wave A-grey Details: The ((v))-navy wave seems to be pushing lower. However, if the price rises above 3.17, it would signal that the ((v))-navy wave concluded earlier than anticipated, completing the five-wave sequence (Wave A-grey). At that point, a larger corrective wave (Wave B-grey) would unfold, pushing prices higher. Invalidation point: 3.17 ASX: SOUTH32 LIMITED – S32 Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: SOUTH32 LIMITED – S32 4-Hour Chart Analysis Function: Major Trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave (ii)-orange of Wave ((v))-navy Details: Wave ((iv))-navy appears to have completed as an Expanded Flat. Now, Wave ((v))-navy seems to be unfolding and pushing lower. However, there is weakness in this count, with recent price action nearing the 3.17 level. Should the price exceed this point, a reassessment of the situation would be necessary. Invalidation point: 3.17 Conclusion: Our analysis and forecast for ASX: SOUTH32 LIMITED – S32 offer insights into the ongoing market trends, guiding traders on how to capitalize on these movements. We provide clear price points as validation or invalidation signals for our wave counts, strengthening confidence in our analysis. Combining these factors allows us to present an objective and professional perspective on the current market conditions. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source: Tradinglounge.com – Get your trial here! -
By CryptoSaint · Posted
Let’s take a closer look at Ethereum’s recent market performance and what traders are expecting next. Current Ethereum Price & Market Overview Current Price: $2,364.72 Market Cap: $9.42 billion Ethereum price has been moving within a defined range, holding support at $2,250 and facing resistance at $2,490. Traders are closely watching these levels to gauge the next move. Ethereum’s Performance vs Bitcoin Ethereum hasn’t seen as much enthusiasm around spot ETFs as Bitcoin. Data from Glassnode highlights that: Bitcoin ETFs account for 8% of the spot volume. Ethereum ETFs contribute just 1% of the spot volume. This indicates that while both cryptocurrencies have ETFs, Bitcoin is clearly benefiting more from their introduction. Macro Impact on Ethereum: Inflation and Interest Rates Recent inflation data came in higher than expected, dampening hopes for a 50-basis-point rate cut at the upcoming FOMC meeting. Initially, this economic news affected the entire crypto market. Ethereum briefly dropped, but it managed to bounce back to the mid-$2,300s by market close. Bitcoin also recovered and was trading just shy of $58,000, though it's still down 0.47% for the week and 1.89% since the start of September. Traders Are Bullish on Ethereum According to CoinGlass, there’s growing confidence in Ethereum’s upward momentum: 58.15% of top traders are holding long positions, while 41.85% are short. The Long/Short ratio is currently at +1.392, which signals a bullish outlook. This data suggests that traders believe Ethereum is poised for an upside rally in the coming days. Rising Open Interest Signals Positive Momentum Another key indicator of bullish sentiment is the increase in Ethereum futures open interest: Open interest has gone up 2.3% in the last 24 hours. This marks the fourth consecutive day of rising open interest, indicating that more traders are betting on higher prices. Analyst Predictions: Is $4,400 Next? Crypto analyst Kaleo has shared an optimistic forecast for Ethereum. According to him, the current price patterns indicate a possible move up to $4,400. He sees the formation of a local bottom as a strong indicator of this potential rally. What’s Next for Ethereum? Support Level: $2,250 Resistance Level: $2,490 With bullish sentiment among traders and a positive technical setup, Ethereum could be gearing up for a significant rally. Keep an eye on the key support and resistance levels as the market continues to evolve. Final Thoughts Ethereum has shown resilience despite recent economic headwinds. With traders leaning towards long positions and open interest on the rise, the outlook appears positive for the cryptocurrency. Stay tuned for further developments, as a breakout could be on the horizon. -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, NEO / U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is likely to have ended and prices are resuming the uptrend. NEO / U.S. dollar(NEOUSD)Trading Strategy: It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend. NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, NEO / U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is likely to have ended and prices are resuming the uptrend. NEO / U.S. dollar(NEOUSD)Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend. NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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Guest David Cotterell
Can you advise the timeframe for transfer into LG account?
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