CBA Weekly Chart Outlook 13/03/2017.

 MAJOR TREND of CBA is UP. In the medium term on the other hand, CBA is stuck in a trading range (TR). Boundaries of this TR are marked with Blue support (@ $81) and resistance(@ $86) lines. Us technicians, watch the boundaries of this TR and carry out our analysis accordingly on any retest.

Prior studies are left on the chart which has no relevance to the current analysis.

I have closed my position with CL1 which may be in a distribution after a failed follow through and a BEARISH WEEKLY PIVOT of last week. On board with MTR again, which had given me an extra Grey hair or two. It would be nice to catch another SPRING with MTR like it was with CBA. But no way of knowing at this stage.

cbaweekly13032017

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