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
-0.990(2.50%) |
Mkt cap ! $196.0B |
Open | High | Low | Value | Volume |
$38.88 | $39.09 | $38.63 | $377.3M | 9.726M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 2476 | $38.63 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$38.65 | 42365 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 2476 | 38.630 |
8 | 12506 | 38.620 |
12 | 4097 | 38.610 |
64 | 28320 | 38.600 |
1 | 550 | 38.590 |
Price($) | Vol. | No. |
---|---|---|
38.650 | 42365 | 3 |
38.660 | 21563 | 2 |
38.670 | 18859 | 1 |
38.680 | 18980 | 1 |
38.690 | 19032 | 1 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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BHP (ASX) Chart |