Mate, were looking at a potential double top. Might not eventuate, but damn, it won't be pretty if it does. Price targets when it breaks the neck line would be in the low 20's. Although I can't see that as a probable possibility - we need to be aware that until it breaks above 40, its going to continue to be sold down...
Say the fed reduces rates next tuesday, but only by a quarter, I'd say the market won't respond well...
The risk is that they will only reduce it by a quarter or none, and that will cause a market dump.
A cut of 50 points would be what would stabilise the market, and allow it to possibly move higher.
From a technical point of view, BHP is in another downtrend unfortunately.
Mate, were looking at a potential double top. Might not...
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Last
$42.70 |
Change
-0.380(0.88%) |
Mkt cap ! $216.5B | |||
| Open | High | Low | Value | Volume |
| $42.91 | $43.15 | $42.66 | $398.1M | 9.282M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 16374 | $42.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.73 | 600 | 1 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |