Scentre Group (ASX: SCG) is currently showing potential for a bull market with wave 3-grey of SCG.ASX. The major trend is in the intermediate degree, orange, with a motive impulse structure. Wave 1-grey has just finished, and wave 2-grey is expected to push lower. If the price drops below 3.14, the entire situation will need re-evaluation. However, if it pushes higher than the end of the ((b))-navy wave, it suggests that the 3-grey wave is unfolding.
On the four-hour chart analysis, the major trend is in Minute degree, navy, with a motive impulse structure. Wave 1-grey has ended, and wave 2-grey is unfolding as a Zigzag labeled ((a))((b))((c))-navy. Wave ((c))-navy is continuing to push lower, with a potential break below 3.28 indicating an increase in Bear market weight. Pushing above the end of wave ((B))-navy suggests that wave 3-grey is ready to unfold.
In conclusion, the Elliott Wave analysis of ASX: SCENTRE GROUP – SCG aims to provide readers with insights into current market trends and how to capitalize on them effectively. Specific price points act as validation or invalidation signals for the wave count, enhancing confidence in the perspective. By combining analysis, forecast, and short-term outlook, readers are offered an objective and professional perspective on market trends.
