Morning all,
Merry Christmas and best wishes from ol' wxyz.
I had an interesting weekend talking with some very experienced and cunning syndicate traders (and it was at the beach :)).
Main point derived from the discussions:
All ords to bottom @ 2800 - 2600 next year. Almost all agreed on this.
But disagreed on the timing, some where saying rally to March then downside to 28 - 26. Others where saying the low would be at March.
Take it for what you will...?
Now to BHP business.
I mentioned earlier i would be doubling my holdings when BHP dropped below the blue ascending trendline...i have not.
Ive allocated that money for a potential short entry in ERA....for what looks to be greener shorting pastures :)
If BHP falls below the lower channel trendline, i would expect further downside. On the flip side, if BHP hits the upper channel trendline, i will be increasing my short position.
In any case the trend is still to the downside..and im starting to think BHP has had its christmas rally already with a 50% increase off the $20 low!!
Todays price action so far, is not encouraging for the bulls, but its only early days...see you at the close.
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Last
$38.64 |
Change
0.000(0.00%) |
Mkt cap ! $196.0B |
Open | High | Low | Value | Volume |
0.0¢ | $39.09 | $38.63 | $305K | 7.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | $42.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$34.78 | 318 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 42.500 |
5 | 961 | 41.600 |
1 | 643 | 41.260 |
2 | 524 | 41.000 |
2 | 394 | 40.740 |
Price($) | Vol. | No. |
---|---|---|
34.780 | 318 | 2 |
35.000 | 1850 | 1 |
35.420 | 287 | 1 |
36.710 | 40589 | 7 |
36.750 | 7763 | 3 |
Last trade - 09.58am 05/09/2024 (20 minute delay) ? |
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BHP (ASX) Chart |
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