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CBA Update

Posted on the 25th Nov calling Top for the 28th Nov so we were only one day off the Top coming in the following Monday. Trend has been down off that point and continues to look quite weak. The page below presents some of the pat swings and it is interesting to note that quite a few lows were made in the month of Dec at different dates . If price continues to move down we could be Low on the 2nd Jan 2023 then up till around the 14th Jan which is the market section I am looking to trade . From the 25th Nov Top into the 2nd Jan projected Low = 39 days which balances against the 2013 swing which measures 34 days so there is a good chance that we are running quite close to this time period . The other three swings were shorter in duration but still provide us with some good information to work with . Notice each swing has the percentage decline listed which should help us to determine the potential price amplitude into the 2nd Jan Low . Currently we are down around 4.2% off the 25th Nov Top which balances against the 5th Dec 2017 Low but the Time period has not ran out yet so there is a good chance that we could move lower . Previous swings measure 7.5% and 6.1% and 9% so I have projected these figures off the 25th Nov Top which give two targets of 102.55 and 101.01 so if we move down into these levels and make Low on the Cycle date we can determine if we are balancing against any of these previous ranges which should be a strong technical confirmation as Low. The 2nd Jan is 90 Deg from the 3rd Oct Low so we could be running out a higher Low Cycle so keep an eye on 99.25 which is 90 Deg in longitude from the High price.

Original Post from the 25th Nov

Looks like we could be Top today or Monday. Will update diagrams and calculations very soon. Keep an eye on the 15th Dec we could make Low into this point . It would be wise to let this down move playout and wait for the 15th Dec to draw closer then if the market is moving down into this point we should be able to calculate one or two price targets - if 15th Dec turns out to be low we could be up till the 6th Jan. I may look at taking a three month atm call option if this trade sets up as expected .

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