Well some very interesting and wildly varying posts regarding CBA so I thought I might as well put in my two cents worth.
IMO CBA highs in the $80+ was certainly a high for the time being, but not the ultimate all time high. I consider it is about to finish an "A" wave of a larger ABC correction. The finish of the "A" wave may take it to around $72 or a little higher.
We will then get a 3 wave upwards correction that may take it back around the $78 mark. Remember this 3 waves up will have a up wave to say $76ish then a down wave to $74ish then an up wave to about the $78.
Following that IMO we will get the "C" wave which will take CBA from $78ish to around $65 but definitely lower than what this current wave finishes at. I believe that the completion of the A wave and the following B and C waves will take 3 to 4 months to complete.
When the ABC correction is all said and done with the "C" wave then it will start a long - 1.5 to 2 year journey all the way from $65 to $100.
I know that people will totally disagree with me but I can't see CBA hitting $20 unless WW3 occurs.
All the above IMO and please DYOR.
Griff
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