After the 2020 dump and recovery to new all time highs in Nov 2021, price could move sideways/down for some time e.g. until late 2024/early 2025, until a new uptrend. This is if it fails to push past $110 to new all time highs in the short term, in a scenario similar to 2008-2009.
Key levels are around 110.19, 93.60, 77, 60.42 such that:
1) Above 110.19 and...
elliot wave theory suggests that CBA
is done. interest rates will continue to rise
in 2024. Not because the central bankers want it
but they have no choice.
CBA, Australia's Biggest Bank, is currently breaking down below a trend line after previously confirming Bearish Divergence on the monthly MACD and RSI, and the nearest strong support level is all the way down at around the levels of $40–$22.
This may be the ultimate sign that we are about to see a significant greater move down of the global financial sectors...
CBA on its final 5th wave.
money printing has helped the banks
maintain solvency. if only every business could
get a bailout/backstop. Im expecting an unexpected event
no one is talking black swan for years now.
I pay $15 for a sandwich. but rising rates will not stop
inflation and printing money will not save the banks
this time.
Gold is the economic indicator...
Everyone seems concerned by a run on the banks of late. Then the question came, is this an isolated event? Is this a US banking crisis? Or is there evidence for contagion?
The answer was surprising. Silicon Valley Bank had indeed printed a strong bearish divergence with sell signal back in December 2021. Are other banks doing similar?
First contender is the...
First of all we are in an uptrend and we will not go against this trend because we are above the vwap indicator. However, we could have a continuation of this uptrend if and only if we break the resistance line with strength by a large green candle and followed by large green volume. On the other hand, we could also have a reversal of the trend, ie a downtrend....
CBA has formed a large rising wedge with declining volume, RSI has now hit oversold. Go figure which way this will go. They're going to have to take on COL's catchphrase DOWN DOWN, PRICES ARE DOWN.
CS will trigger a chain reaction
CBA will feel it too.
its all in the fibonacci levels.
loans to home buyers have hit saturation levels.
no one left to to feed the ponzi....
debt brings consumption forward... and tomorrow is now today.
time to pay the piper.
in OO programming., we call the destructor to clean up
~cleanup();
based on the current situation with bonds and interest rates, cba will correct. reflecting a correction in house prices. I think the correction will be mild to medium (15-25% from here) putting CBA down to about $62 a share or lower reflecting increase in bad debt, lower consumer sentiment.
it will be held low throughout 2023 as the market finds its feet (XJO...
