With today (IMO) looking a little suspiciously like the market was propped up by pumping BHP and WPL (as usual), I thought I'd analyse the monthly chart for BHP as index proxy for the most likely scenario up into month-end Friday.
Chart below.
Key points:
- BHP in no man's land at the moment (middle of uptrend channels)
- IMO likely to fall to bottom of channels at $18-$19 close Friday (possible spike low to $16ish intra week)
- Longer term - (after nice bounce to possibly $30)- 2009, 2010? - low of $12, possibly $6
Obviously if the BHP scenario above plays out then we'll see the index bottom out with a new low this week.
No guarantees - just my best guess looking at the chart.
Happy to discuss or hear alternative views or analysis of BHP monthly (or weekly) chart (as proxy for index movement)![]()
- Forums
- ASX - By Stock
- monday trading
With today (IMO) looking a little suspiciously like the market...
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,013.4 |
Change
31.000(0.39%) |
Mkt cap ! n/a |
Open | High | Low |
7,982.4 | 8,030.3 | 7,982.4 |
Featured News
XJO (ASX) Chart |