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XJO Weekend Charting and Chat - 11th May 2018, page-7

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sierra

10,957 Posts.

12/05/18

22:15

Post #: 33057790
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Originally posted by 48&34 ↑

A 300 point rise would require participation of the 4 banks. The likely scenario is that 3 banks will be minus 4-5% by the end of the week. CBA has been hammered and recovery has little chance prior to the next half yearly financial announcement in early August. And maybe not in 2018 at all, as the RC will continue to damage investor's sentiment. So I am still expecting a downside move in the short term.

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Maybe it will be the 600 point fall then?
When time aligns with price it rarely goes sideways.

Last edited by sierra: 12/05/18

XJO Value at posting: 6,116.2
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