Once again, CSL has retraced back to the 50 weekly moving average after a recent high. In the past, the 50 moving average has become an excellent accumulation zone for investors. Could we see history repeating itself here?
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Also, an unconfirmed double bottom and triangle are forming on the weekly chart.
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If the asx200 pullbacks 1-2% in the next few days, CSL could struggle to get past the big psychological price level of $300.