TreggsWell the XJO's Broadening Wedge lower trendline has been...

Treggs

Well the XJO's Broadening Wedge lower trendline has been broken, not tested this morning. It really, really needs to hold this level or look out below!

Sparkler

I promised a RIO chart to go with the BHP - this one's a daily. Not convinced about what to do with RIO - would have advocated a short position down to about the $110 - $115 level but today's decline has stuffed the risk/reward ratio for that. It's already declined plenty. I suggest no position and let's see if it can bounce off the rising trendline from August 07 to take a long position there.

Rio and BHP hold the key to XJO's immediate future imo.