I don't follow charts, but do recognise that they can provide insights of the future inclination of the market, ie of investor inclination.
I'd have thought however that with BHP we could expect to see higher lows due to the pricing that has come through in coking coal, iron, oil and copper in particular.
I don't believe the strength of copper or poo is adequately factored into the sp price, so until I see frightners about two or more of the above four commodities, I am going to take the view that no matter low strong the inclination for the sp to follow some pattern, that investors will resist this and support the sp well above the last low at 34, perhaps it was Thursdays low, but I will endeavour to have some purchasing reserve if we try 37/38 ish. Meanwhile I am tempted to top up if we trade below 41 Monday.
Apologies in advance if this sounds like garbage to the ta people.
EL
BHP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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