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AsimMirza786

Wait for entry position at $73.00

COMMONWEALTH BANK OF AUSTRALIA (ASX:CBA)  
AsimMirza786  
ASX:CBA   COMMONWEALTH BANK OF AUSTRALIA
Trend Analysis commonwealthbank asx200
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trendanalysis commonwealthbank asx200
looks like at the moment the price is between support and resistance .

the overall trend is positive getting support from MA50&200 which is positive sign.

I will wait for entry around 73.00 - 72.50, apparently looks like market is going to close around 73.500.

these are my own notes, by no means advise to anyone. please do your own research before entering into any trade.

Comments

AsimMirza786
I think I should wait and see if it falls below the historic 72.300 support level, if this happens it will also fall below the upwards trend channel giving support at 71.900.
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AsimMirza786
it touched 72.27 and currently bouncing up to 72.40.
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AsimMirza786
looks bit uncertain, bit sceptic to enter into any trade at ~ $72.80, I think I am going to wait for trend confirmation.
Next support is at $72.30 it would be a good entry point, see how it touches this support level.
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