Here is a NY chart of BHP. IMO BHP is looking very bearish. We are near the pointy end of a rising wedge. the reason BHP bounced in NY was that it hit the bottom of the wedge....but it will not hold long IMO. If that is not enough evidence for you then also consider the rising wedge on the DOW. Also consider that Terry Laundry is calling the 29th dec as the date that the market will turn down (his record of calls has been very good).....there is now only 3 trading days till the 29th which will be just enough days for BHP to run out of steam and break south.
I am not having a go at BHP as such. in fact i think it is a stronger prospect in a very bad market. personally i am hoping to do a "Robbbb" and catch the bottom for a nice momentum ride back up.
green green, page-6
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Last
$38.81 |
Change
-0.530(1.35%) |
Mkt cap ! $196.9B | |||
| Open | High | Low | Value | Volume |
| $38.65 | $38.86 | $38.46 | $405.6M | 10.48M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 13092 | $38.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.84 | 500 | 1 |
View Market Depth
| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |