Kacy, the best way to assess these theories is to back-test them....
Converging usually happens on intraday charts after the volatility temporarily ends and the prices goes sideways for a while.
The bands then start to open... but in which direction the price heads can be difficult to predict.
Look at other indicators for clues.
the $31/$32 barrier & bhp in london and the us, page-83
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Last
$42.78 |
Change
0.140(0.33%) |
Mkt cap ! $217.0B | |||
| Open | High | Low | Value | Volume |
| $42.25 | $42.97 | $42.14 | $223.0M | 5.233M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 10160 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.79 | 5000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |