200dMA (yellow line) now lost and more importantly the POC for the past couple of years - this is important. You can see CBA is heading down into a volume void too - so things could escalate quickly if price drops further.
They say the biggest moves come from failed breakouts (fake-outs) or failed breakdowns (fake-downs).
Currently CBA has had a significant move south since the fake-out a few weeks ago. Long holders will want to see the breakdown of the 200dMA and POC as a fake-down as there may be a significant move north again if this plays out.
However with both SPX (ES1) and NDQ (NQ1) both just losing their 200dMAs in futures trading it's looking a little ugly (but big night ahead)
Get your popcorn ready as this next week or two should be immense
CBA Daily .
CBA Price at posting:
$97.88 Sentiment: None Disclosure: Not Held
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