Look at this chart. Look at the number of times CSL has hit the resistance line and ask yourself where the SP is likely to go. There is a pattern, obviously. 270 is where it may drop with the possibility of a bounce back, before heading back down to 243 where there is a gap. The bounce is not very likely, however. Why? Note that there were no gaps in the in previous instances at the bottom resistance line, and the SP bounced back hard at the middle resistance line, before falling again to the bottom resistance line. This time around is different, there is a big gap at the bottom resistance line (see arrow). Because of this gap, the SP will likely break through the middle resistance-support line and head straight for the gap, imo. Either way, the SP is heading for 243-245, given the price action pattern over the last 5 years.
(20min delay)