ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NORTHERN STAR RESOURCES LTD – NST. We see NST.ASX continuing to push higher.ASX: NORTHERN STAR RESOURCES LTD – NST 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Intermediate degree, orange)Mode: MotiveStructure: ImpulsePosition: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orangeDetails: Wave ((ii))-navy appears to have ended, and wave ((iii))-navy is unfolding to push higher, targeting the high at 18.00-20.00, while price must remain above 15.50 to maintain this view.Invalidation point: 15.50
ASX: NORTHERN STAR RESOURCES LTD – NST 4-Hour Chart AnalysisFunction: Major trend (Minor degree, grey) Mode: MotiveStructure: ImpulsePosition: Wave (iii)-orange of Wave ((iii))-navy of Wave 3-greyDetails: It seems like wave (iii)-orange is continuing to push higher to complete its role. It will go up and aim for a target around the 19.37 high, while price must remain above the 16.48 high, because wave (iv)-orange cannot overlap there.Invalidation point: 16.48
Conclusion:Our analysis, forecast of contextual trends, and short-term outlook for ASX: NORTHERN STAR RESOURCES LTD – NST 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).More By This Author:Elliott Wave Technical Analysis: Australian Dollar/U.S. Dollar – Tuesday, Oct. 22
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