Hi Folks
Up way too early again. To fill in time thought I would play with the charts again
Last week I posted a graph about the history of gap filling for the LIT eft.
It occurred to me that so much about the LIT eft is dominated by China, obviously.
So I thought I would take a look at other miners whose trade is dominated by dealing with China, out of interest. With BHP 56% revenue from China and FMG 88% from China.
I was more than a bit surprised about how similar the charts are when compared to PLS since 2022. So I included charts for PLS, FMG and BHP.
I can hear the "Yeh-But's" already. There dealing with different commodities? Yes. However the market price they are selling into is determined by China,
The BHP and PLS charts seem to rhyme allot.
The trend this year seems common across all three companies. Pay particular attention to the directions of the 10WMA and the 40WMA and how the 10WMA crossed below the 40WMA in all three.
Food for thought.
cheers Lies
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8 | 603338 | 2.740 |
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5 | 58153 | 2.710 |
Price($) | Vol. | No. |
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