I'll leave the BHP chart to Deeg, but I'll throw in a couple of charts that may be of some help. For anyone else that may be interested, here's LYC, ARU and the XMM, their index. Both are REE stocks. A couple of LYC posters were befuddled as to why ARU was up 10+% on Friday but their beloved LYC was down on good news.
As you will notice, I've marked the close of the August 9 shake-out bar on all charts. The close is the line in the sand, so to speak. If things are sitting above it, it's all sweet and dandy, for now... Below, and it's in a really vulnerable spot. Unfortunately I have no volume on indexes, but you can still see what's happening.
I'll leave the explanation of accumulation, as Deeg has done so previously, and very well I might add. Just my thoughts for this the Fathers Day Weekend. Even though I'm not one..
