The Australian Stock Exchange (ASX) is currently being analyzed through Elliott Wave analysis, focusing on UNIBAIL-RODAMCO-WESTFIELD – URW. The analysis suggests that URW may have completed wave 2-grey and is now in the process of unfolding wave 3-grey to push higher. The analysis is broken down into various details, such as the function, mode, structure, and position of the waves within the Elliott Wave theory. Wave 3-grey is expected to subdivide into wave ((i))-grey, followed by wave ((ii))-grey, and finally wave ((iii))-navy. The analysis also provides an invalidation point at 5.46, beyond which the current view would be considered invalid.
The analysis also delves into the one-day chart of URW, focusing on the major trend at a minute degree, navy level. Wave 2-grey has been deemed completed, with wave 3-grey currently unfolding. The wave is expected to subdivide into wave ((i))-navy and eventually wave ((ii))-navy before pushing higher with wave ((iii))-navy. Price must remain above 5.46 to maintain this view, and a Long Trade Setup is anticipated once wave ((ii))-navy ends. An invalidation point is provided at the same level of 5.46, serving as a crucial marker for the current analysis.
The four-hour chart of URW is also analyzed within the context of Elliott Wave theory, focusing on the major trend at a minute degree, navy level. The analysis suggests that wave 2-grey has concluded, and wave 3-grey is now in progress to push higher. This wave is expected to subdivide further, with wave ((i))-navy currently ongoing and wave ((ii))-navy anticipated to follow. Price movement below 5.86 signals the unfolding of wave ((ii))-navy to push lower, followed by wave ((iii))-navy to push higher. The importance of price remaining above 5.46 to maintain the current view is emphasized, along with the outlook for a Long Trade Setup post wave ((ii))-navy completion.
In conclusion, the analysis of ASX: UNIBAIL-RODAMCO-WESTFIELD – URW through Elliott Wave theory aims to provide readers with valuable insights into the current market trends and potential trading opportunities. By highlighting specific price points for validation and invalidation of the wave count, the analysis offers a structured and objective perspective on the market dynamics. The forecast provided in the analysis seeks to empower readers to make informed decisions and capitalize on market trends effectively. Overall, the analysis aims to present a professional and reliable outlook on the market for traders and investors to consider in their decision-making process.
