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Northern Star Resources Ltd Elliott Wave forecast [Video]

Peter Mathers TradingLounge

ASX: NST Elliott Wave technical analysis

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: NST one-day chart

Function: Major trend (Intermediate degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange.

Details: 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: NST Four-hour chart analysis

Function: Major trend (Minor degree, grey).

Mode: Motive.

Structure: Impulse.

Position: Wave (iii)-orange of Wave ((iii))-navy of Wave 3-grey.

Details: 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.

Northern Star Resources Ltd Elliott Wave forecast [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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