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By tradinglounge · Posted
ASX: SOUTH32 LIMITED – S32 Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) SOUTH32 LIMITED – S32. We see S32 continuing to push lower with (Y)-orange wave. ASX: SOUTH32 LIMITED – S32 1D Chart (Semilog Scale) Analysis Function: Counter trend (Minor degree, grey) Mode: Corrective Structure: Double Zigzag Position: Wave B-grey of Wave (Y)-orange Details: Since the high at 4.02 wave (Y)-orange is unfolding as a zigzag. Wave A-grey has completed, and wave B-grey is unfolding to push higher, targeting around the high at 3.50. After wave B-grey is completed, wave C-grey could return to push lower. While price must remain below the high at 4.02 to maintain this view. Invalidation point: 4.02 ASX: SOUTH32 LIMITED – S32 4-Hour Chart Analysis Function: Counter Trend (Minor degree, grey) Mode: Corrective Structure: Zigzag Position: Wave ©-navy of Wave B-grey Details: The shorter 4H chart, shows that the B-grey wave is unfolding to push higher, which itself is developing as a Zigzag, labeled ((a)),((b)),((c))-navy. Basically the ((c))-navy wave is almost done, it can continue to push higher, aiming for the nearest target at 3.31, breaking through this level will continue towards the target around 3.50. While price must always stay above 2.91 to maintain this view. Invalidation point: 4.02 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: SOUTH32 LIMITED – S32 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 the 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 : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Ripple / U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid level: Details: the five-wave Increase of wave III Ripple / U.S. dollar(XRPUSD)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. Ripple / U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Ripple / U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid level: Details: the five-wave Increase of wave III Ripple / U.S. dollar(XRPUSD)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. Ripple / U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Stock Market Indices Overview Explore key indices including S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200, all analyzed using Elliott Wave Technical Analysis. Market Insights Following the Fed’s recent rate cut, we've identified a peak in major indices and many individual stocks, presenting a prime opportunity to enter long positions. For optimal entry prices, consider waiting until late Thursday afternoon or Friday morning, aligning with Bullish Weekly Cycle patterns. Tune into tomorrow’s video for potential setups on long trades at more favorable price levels. Stay Updated Subscribe to our newsletter and follow our expert insights to stay informed on the latest Elliott Wave developments and seize trading opportunities. Video Chapters Elliott Wave Analysis Comprehensive analysis for major indices: 00:00 SP 500 (SPX) 10:11 NASDAQ (NDX) 13:03 Russell 2000 (RUT) IWM ETF 15:27 DAX 40 (DAX) 19:39 FTSE 100 UKX (UK100) 21:53 S&P/ASX 200 (XJO) 28:41 End Analyst Peter Mathers TradingLounge Source: tradinglounge com Federal Funds Rate Update The Federal Reserve has slashed interest rates by 50 basis points to 5%, aiming to stimulate economic growth and support businesses. This significant rate drop can lower borrowing costs, boost consumer spending, and enhance investment opportunities. Stay updated on how the Fed’s decision impacts markets and your finances. Contract Month Expiration Most major U.S. equity index futures, including S&P 500 (ES), Nasdaq-100 (NQ), and Dow Jones (YM), expire on the third Friday of their respective contract months. For September, the futures will expire on the third Friday of September.
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