\n\tTechnical analysis is a method of predicting price movements and future market patterns\/trends by studying charts of past market action. In this CBA<\/span> example, the “Double Top” is a bearish reversal pattern and is identified by two peaks of similar height, followed by a break below the level of the recent recorded support line. In this example, the daily graph has held to a relatively strong uptrend that originated from $49.00 (i), back on 1st<\/span> June’2012<\/span>. Recording its first peak at $58.00 (ii), on 31 July’ 2012, the price fell and respectively held at $56.00 (iii).<\/p>\n \n\tStaging another strong advance, the price re-challenged $58.00 (iv), and after the third candle day a rejection has now been confirmed. In essence, if this is a true “double top” pattern then the immediate target holds towards $56.00. This level is the key to this formation. The measured breakout holds vertically from the highest peak to the support line. From the break you then measure the projection which gives you an objective of $54.00 (v).<\/p>\n \n\t \n\tRob Clayton – Senior Technical Analyst – has been providing technical analysis on Foreign Exchange, Futures, and Interest Rate products for the past 21 years. He held many senior analyst roles including the role of Senior Technical Analyst at Westpac Institutional Bank for 12 of those years. Rob is now part of the investments team at GTL<\/span> Capital Management. Rob’s daily reports are read by institutional and professional clients in Australia, Asia, Europe and the Middle East.<\/em><\/p>\n \n\tGTL<\/span> Capital Management provides proven managed trading services and technical analysis across multiple asset classes. Utilising<\/span> over 100 years of combined trading knowledge the investments team provides a dedicated focus on absolute returns for its clients. GTL<\/span> Capital Management Pty Ltd is a wholly owned subsidiary and a Corporate Authorised<\/span> Representative (#416815) of GTL<\/span> Tradeup<\/span> Pty Ltd ACN<\/span>: 145 955 906 ASFL<\/span>: 381 349<\/em><\/p>\n \n\tFor more information please visit www.gtltradeup.com\/managed.html.<\/a><\/em> \n\t \n\tRisk Warning: Trading in leveraged or geared products such as derivatives and margin foreign exchange carries a high level of risk to your capital and you should only trade with money you can afford to lose. We encourage you to consider your investment objectives, your risk tolerance and trading experience when deciding to deal in GTL<\/span> Tradeup<\/span> products. We recommend you seek independent advice. It is possible to lose more than your initial invested funds when trading in geared products. Trading derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved. <\/em><\/p>\n \n\tGeneral Advice: Any advice or trading view provided by GTL<\/span> Tradeup<\/span> or GTL<\/span> Capital Management is general in nature and does not take into account any of your objectives, financial situation or needs unless specifically agreed to by a statement of advice (SOA<\/span>). For this reason, before you act on any information, you should consider the appropriateness of the information to you and if necessary seek independent advice. The Financial Services Guide (FSG<\/span>) and Product Disclosure Statements (PDS<\/span>) for GTL<\/span> Tradeup<\/span> products are available from our website www.gtltradeup.com <\/a>or by contacting us by email: sales@gtltradeup.com or by phone: +61 2 8095 7520. The FSG<\/span> and PDS<\/span> should be considered before deciding to enter into any derivative or foreign exchange transaction with GTL<\/span> Tradeup<\/span>.<\/em> Robert Clayton of GTL Management suggests technical signals point to a pullback in the Commonwealth Bank price.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[90,91],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60393"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=60393"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60393\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=60393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=60393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=60393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\t![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/0_6_CBA.jpg\")
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