ASX: REA GROUP LTD – REA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REA GROUP LTD – REA. We identified that wave 2-red may have just ended, and wave 3-red could push much higher.ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave 3-red
Details: The short-term outlook suggests that the 2-red wave appears to have recently completed as a Double Zigzag correction, and the 3-red wave may be ready to push higher. Further upward movement would confirm this outlook.Invalidation point: 140.50 
ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis TradingLounge (4-
Hour Chart)ASX: REA GROUP LTD – REA Elliott Wave Technical AnalysisASX: REA GROUP LTD – REA 4-Hour Chart AnalysisFunction: Major trend (Minuette degree, purple)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-purpleDetails: The near-term outlook suggests that the 2-red wave has concluded in the form of a Double Zigzag pattern at the low of 172.49, allowing for the possibility of the 3-red wave to resume and push higher. Currently, it is subdivided into the (i) and (ii)-purple waves, and it appears that the (ii)-purple wave has recently ended. The (iii)-purple wave may now be unfolding to push higher.
Invalidation point: 172.49 
Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REA GROUP LTD – REA 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.More By This Author:Elliott Wave Technical Analysis – NEO Crypto Price News
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