Northern Star Resources Ltd – NST analysis and Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

ASX: NST Elliott Wave technical analysis

Today’s Elliott Wave update for the Australian Stock Exchange (ASX) focuses on NORTHERN STAR RESOURCES LTD – NST.

According to our analysis, ASX: NST appears to be entering a short-term bearish trend, potentially dropping to the 16.86 level. There are currently no signs of a bullish market based on this forecast.

Elliott Wave technical analysis – One-day Chart (Semilog Scale)

Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave C) - orange of Wave 4)) - navy.

Details:

Wave 4)) - navy continues to decline, likely developing as an ABC-orange zigzag pattern. Wave A)B) - orange has completed, and since peaking at 22.78, Wave C) - orange is targeting 16.86. There is no bullish evidence currently.

Invalidation point: 23.78.

ASX: NST four-hour chart analysis

Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave C) - orange of Wave 4)) - navy.

Details:

No new data beyond the 1D chart. Since the 22.78 peak, Wave C) - orange is continuing lower, eyeing 16.86 as a target.

Invalidation Point: 22.78.

Conclusion

Our forecast and technical evaluation for ASX: NST offer insights into the market’s current momentum. We outline precise price markers for validation and invalidation to strengthen the reliability of our Elliott Wave count. With a structured methodology, we aim to present the most objective and professional trading outlook.

NST analysis and Elliott Wave technical 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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