Ive been watching CBA for a long time and had some nice buys out of the bottom of that box ($48-49) up to the horizontal resistance at $54. It did extend out of that range in mid june in what I thought could be the move up to all time highs (~$60) but it just didn't have the legs. Another entry at $48-49 sounds good, but if it falls through here it will be another opportunity for a short (as per september 2008). Wait for it to turn.
2 comments:
Great charting as usual, will keep my eye on for an entry soon I think...cheers Mr Burns
Ive been watching CBA for a long time and had some nice buys out of the bottom of that box ($48-49) up to the horizontal resistance at $54. It did extend out of that range in mid june in what I thought could be the move up to all time highs (~$60) but it just didn't have the legs. Another entry at $48-49 sounds good, but if it falls through here it will be another opportunity for a short (as per september 2008). Wait for it to turn.
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