july pivots, page-49

Agree, has been a grind for weeks and hardly worth a trade. Second test of the 61.8% Fib at $1.91 upon us.

Interestingly BHP, unlike AGO, has again broken its long-term 61.8% Fib at $31.38, fifth time on the weekly chart in recent months. All four previous weekly candles closed back above $31.38 confirming support at this level but the fifth time is looking unlikely given it will need to climb ~$1 by end of trade tomorrow (currently at $30.40). Will be looking to next weeks BHP candle for confirmation of whether this support level has failed.