share price, page-69

hi all.
both the dow and the bhp adrs closed up 1.03% last night on positive signals the european union will approve aid for greece.

looks as if risk is back on the table with the june vix index gapping down hitting a low of 16.45, also the usd index gapping down to 74.64 (that move down, by the usd, should limit any possible move up today in the aus bhp sp, mongo may post a conversion price)

copper and oil both had a positive night, oil just missing my target from last week by 3c, bugger, both copper and oil daily charts are in a confirmed up trend, there is now some fib resistance at this level so a pullback is on the cards before a possible run up to break the fib resistance levels.

weekly chart. most of my weekly indictors have stopped their decline and are now trying to form a swing low, they are yet to go into a buy. looks as if the lower bollinger band and the 42.74 support fib have helped to support the sp.

daily chart. we now have good follow through from last weeks buy signal, the sp is now at a fib resistance level,44.75, we need to see the sp push through this level and head up to the very strong fib resistance of 45.59 and 45.85, the top bollinger band is also at this strong fib resistance level so some profit taking could be on the cards at that level.

just as a side interest, its interesting to see the rio sp still outperforming the bhp sp at present. the rio.l and rio.n have already hit the top bollinger band on the daily chart and not far off it on my aus sp chart.

mong.
the traders shorting bhp must be felling the pain. they could be long term holds trying to protect their position. the chart below tells me one play could be buy bhp and protect their position by selling the overall market(asx200), should be less pain and more profit.

just my 2c worth.





have a good one.

582