Yeah, there is almost a similar thing happening to BHP.
According to FNArena, the 20dsma is quite important.
The last time we had the scenario of a downing MACD and a significant cross of the 20dsma, we had a long medium term downtrend in place.
Last year oil fell considerably, and we've got thumped oil over the last few days. Perhapos
From a technical perspective, we still haven't broken out of the downtrend channel as yet, although today's higher high and higher low (thus far) is a good thing.
We'd have to see the price go above 36.75 and hold with a confirmation day for me to be happy its bottomed out.
So yes, play the swings, but damn, don't get caught in the gaps.
Yeah, there is almost a similar thing happening to BHP....
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Last
$41.26 |
Change
0.150(0.36%) |
Mkt cap ! $209.2B | |||
| Open | High | Low | Value | Volume |
| $41.10 | $41.53 | $41.05 | $432.9M | 10.49M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $41.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $41.27 | 1700 | 1 |
View Market Depth
| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |