A squeeze of the bollinger bands is invariably the prelude to a correction upward or downward. In the present case, it is likely to be a downward correction. The squeezed indicator (in red) in the bbands is far from the bottoming bearish zone. It is likely that it will get there, assuming the pattern persists (circles). The two Fibonacci clusters (dark black dots in the first window) suggest 203-185 are possible price targets. Lastly, as I wrote before, all good things come in threes (numbered trendline 1,2,3..?). We may witness, hopefully, a price action bottom then. But, as always, there's no guarantee.
CSL Price at posting:
$280.67 Sentiment: None Disclosure: Not Held
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