ASX: Scentre Group (SCG) Elliott Wave Technical AnalysisTradingLounge (1D Chart)Greetings, our latest Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) with Scentre Group (SCG). We observe that wave ((ii)) – navy has concluded, and wave ((iii)) – navy may be set to advance.ASX: Scentre Group (SCG) Elliott Wave Technical Analysis1D Chart (Semilog Scale) Analysis
Details: Wave ((ii)) – navy seems to have ended sooner than anticipated at a low of 3.14, and wave ((iii)) – navy is now poised to climb higher. I will monitor SCG for a potential Long Trade Setup shortly. The invalidation point stands at 3.14.
ASX: Scentre Group (SCG) Elliott Wave Technical AnalysisTradingLounge (4-Hour Chart)ASX: Scentre Group (SCG) 4-Hour Chart Analysis
Details: Wave ((ii)) – navy appears to have bottomed at 3.14, with wave ((iii)) – navy unfolding into wave (iii) – orange. This further subdivides into wave i – grey, which seems to be concluding, followed by wave ii – grey potentially dipping slightly lower, before wave iii – grey drives higher. The invalidation point is 3.19.
Conclusion
Our analysis and forecast provide insights into the contextual trends and short-term outlook for ASX: Scentre Group (SCG). We aim to guide readers on effectively leveraging these trends. We specify key price points that serve as validation or invalidation signals for our wave count, bolstering confidence in our analysis. This approach strives to offer an objective and professional view of market trends.Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation)More By This Author:Elliott Wave Analysis: Commodities, Bitcoin, Bonds, Forex
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