Towards the end of last month I posted on CSL. A long term, short trade opportunity. This was a trade taken in the advanced trading room. Let’s take a look at where it sits now.

To re-cap, below is the chart that was posted with the last entry on CSL. As we can see, there are 3 line of resistance holding down the weekly chart. This level was also a significant Fibonacci level to make a 4^th resistance.

Now here is the daily chart at close today.  The entry point was as highlighted in yellow. From there CSL had a 3 day run up, trying to break through the different levels of resistance but did not have enough power and on the 4th day dropped, with good volume giving it enough power to fall through the support of the short term up trend. To date there has been almost $4.00 from the entry point.

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