It’s of little use to look to the BHP chart or fundamental drivers for price action in times of market extremes imo. It is also pointless trying to name bottoms for BHP ie. $20 or $12 as has been stated.
It is better to focus on market action of DJIA and SPX and extrapolate reasoning for market sentiment and price action.
The DJIA and SPX charts show that we are likely to retest the low and it is clear that there is some unfinished business on the downside. I expect to see the low hold and subsequent market turn. I am bullish on this market and expect to see a longer term setup develop.
This is only my view and I am always interested in seeing what other traders are thinking.
bhp getting hammered , page-27
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Last
$38.45 |
Change
-0.460(1.18%) |
Mkt cap ! $195.0B | |||
| Open | High | Low | Value | Volume |
| $39.00 | $39.07 | $38.28 | $323.2M | 8.359M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1696 | $38.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.46 | 24810 | 1 |
View Market Depth
| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |