I think the All Ords holds the key to what comes after today, for BHP and the general market.
The All Ords have gone almost nowhere since the High of 3575 on 25th November. Hit 3590 today and falling.
Should it hit a Low anywhere near or under 3500 today and Close on or near that Low, then downside could easily continue.
On the XAO chart, my Projection Osc hit a low of 6.95% on 10th October.
Another Stochastic SELL arrow popped up on 7th November and
on 18th November the next low dropped to 3.25%.
It looks like it's "still in the grip" of the last Stochastic Sell signal and next HIGHER Projection dip should show at the next LOW in the All Ords.
So far, the peak in the Projection Osc on 25th November (85.5%)is lower than the last one on the 5th of October (98.5%).
A negative move in the All Ords tomorrow would almost confirm this outlook.
I think the All Ords holds the key to what comes after today,...
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Last
$40.86 |
Change
0.650(1.62%) |
Mkt cap ! $207.2B | |||
| Open | High | Low | Value | Volume |
| $40.65 | $41.02 | $40.32 | $321.8M | 7.877M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1456 | $40.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.87 | 1230 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |