I agree with your sentiments in regards to a hold of the $40.40 level as being bullish. But a move to $45-$46 thats a big call my friend, do you have a time frame on that one?
A hold of $40.40 and a strong close above the $42 mark, then, and only then i would be considering a move to $45 - $46 as being feasible.
Personally i would be surprised if BHP closes above $42-$43 anytime soon.
I cant see a move to $45 -$46 when punters started jumping ship on mass at $42, Fridays volume confirms this puppy is coming in for landing....
What we witnessing at the moment is a classic bear trap rally, sentiment has changed only momentarily, further falls in commodities/metals prices/oil is inevitable.
Friends take a position at your own peril!
BHP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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