S&P/ASX 200 Technical Analysis Elliott Wave
Technical Analysis Elliott Wave XJO BHP FMG RIO IRON ORE
ASX200 Technical Analysis: Impulse Pattern. Elliott Wave 3

Trading Levels: 6000 support

Trading Strategy: Long trades above 6000 Expecting this week to be bullish

 

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD retreats from four-month highs after higher Unemployment Rate

AUD/USD retreats from four-month highs after higher Unemployment Rate

The AUD/USD snapped its three-day winning streak, trading around 0.6680 after the higher-than-expected Aussie Unemployment Rate on Thursday, which rose to 4.1% in April from the previous reading of 3.9%. 

AUD/USD News

USD/JPY trims losses below 154.50 following Japan’s GDP data

USD/JPY trims losses below 154.50 following Japan’s GDP data

USD/JPY trims losses near 154.45 during the Asian session on Thursday. The softer US CPI inflation data has exerted some selling pressure on the US Dollar. However, the major pair recovers modestly following the recent weaker-than-expected Japan’s Gross Domestic Product in the first quarter of 2024. 

USD/JPY News

Gold rally continues with buyers eyeing $2,400 as inflation recedes

Gold rally continues with buyers eyeing $2,400 as inflation recedes

Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high of $2,390 after data revealed by the US Bureau of Labor Statistics showed inflation is ebbing, increasing the odds for a Federal Reserve rate cut in 2024.

Gold News

AI tokens see heavy gains following crypto market recovery

AI tokens see heavy gains following crypto market recovery

Following the crypto market recovery after the release of the US CPI data, AI tokens posted huge gains on Wednesday. Several factors may be the reason for renewed investor interest in these tokens.

Read more

Dow Jones Industrial Average soars 350 points, sets new all-time high as rate cut hopes surge

Dow Jones Industrial Average soars 350 points, sets new all-time high as rate cut hopes surge

The Dow Jones Industrial Average clipped into a fresh all-time high on Wednesday, gaining almost nine-tenths of a percent during the US market session after US Consumer Price Index inflation slipped further back.

Read more

Majors

Cryptocurrencies

Signatures