broken down, page-10

hi all.
so where is support????????????
i have 2 main fib support lines, one at $39.46 the other $36.37.
if we find support at around the $39.46 area, then a trend up to close gap 2 could be on the cards. that move will also be supported by the lower support line.
one concern i have is the macd has broken support.
the 2rd chart i posted on the 16/1/2010, you can see the bearish divergence in the macd on the weekly aus200 chart, this diverence is now in play
i feel the bull run from march 09 until now has finished and we could be going into a EW corrective wave pattern.
my weekly bhp chart looks to be in better condition than the aus200chart, which makes me think BHP could out perform in a overall down trending market.
DYOR. that is my 2c worth.

have a good one.

582