Hi all,
For anyone interested, this chart shows CBA for the last 10 years. The chart clearly shows a 5-wave impulsive advance right up to $34.94.
The 5-wave impulse down from $34.94 to $23.05 could be the start of a correction - in which case the lower line is the target (ie, $17 ~ $18). It could also be the start of a larger impulse down, in which case the downside target will be way below the lower line.
Whatever the downward movement from the peak of $34.94 is, corrective or impulsive, it will resume when the current 3-wave upwards correction from $23.05 finishes. When this correction finishes, the downside for CBA will be substantial and lengthy.
Regards,
Ultrafart.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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2 | 1130 | 127.200 |
1 | 40 | 127.000 |
1 | 79 | 126.580 |
1 | 25 | 126.500 |
Price($) | Vol. | No. |
---|---|---|
127.690 | 200 | 1 |
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