how much lower, page-21

Simonne, I never short indices, stocks and most especially BHP, lol.

Anything can happen, but my number one rule in charting is that chart patterns do not necessarily have to play out.

I'm expecting a bounce, which is why I have bought. I could be totally wrong.... weekly indicators are saying sell.... and the dailies are giving mixed messages.

The first chart at the bottom of this post show that the price does not have to hit the lower channel line to rally--- on 2 of 5 occasions it did, on 3 other times it rallied from above the line.

The 5/3 stochastic is at oversold, the point from where the rallies have occured.

The 14/3 stoch however has a little further to fall, but previous rallies have occured without it hitting oversold.

RSI is also at rallying levels.

We have had essentially 6 days of falls from the Feb 10 high--- a rally should be imminent.

The Dow has a turn date tonight, has fallen for 6 days, and that fits in with my expectations for a bounce.

The second chart shows that price has been supported by the 50 day moving average since November, and has fallen through only a couple of times. It's on the 50 day ma now.

Again --- I could be totally wrong, but that is how I see it.