more gann45 hocus pocus, page-7

I wasn't quite finished there!...

Next is ANZ. I've been expecting ANZ to go below $8 because of the lower double top for some time now and it finally looks like being a short capitulation away from that target. The chart is also quite an education on support/resistance points and dimishing retracements in a bear trend. (Fwiw I have similar views regarding CBA to others on this thread and all banks are in pretty much the same boat.)




by the way if anyone has tips on converting gif images to jpeg without messing up the colours I'd be interested to hear!
Next is WOW... as the chart indicates it has retraced 38% of the bear so it could conceivably retest the high but in my opinion the rally was too slow (more than 90 days) and the 50% retrace of the bear was the the first of several (future) downtrend retracements.... give it a couple of months and it should start to resemble WES chart imo.




And last is bhp. I posted this chart a week or so ago but the only change is that it rallied 1% more and then fell away from resistance. I've posted most of my thoughts regarding resource stocks previously and see this one going below $10 in the near future... The target is a bit harder to pick than the banks though.