weekend charting spring 3r & 4th september, page-39

Hi dgoransson

Please can you look at BHP. It seems that SM are likely to bring price down again to test for supply in the area of $35/$36 (a very high volume bar, on the 9 Aug 2011 daily chart, closing near the top of a very wide spread bar). So presumably that was SM absorbing all the supply and if the test for supply (ie. low volume down bars into the area of $35/$36 showing supply is falling/drying up ) is successful then there should be a high probability that prices should move up from that level. Can you please chart BHP & comment if the above reasoning is on the right track?

Thanks in advance (I'm a VSA novice trying to learn from you, Mitta, Funky, Jako, Adsy, etc. & really appreciate your charts & TA)

Regards,
Confucius