16th May at $43.52 I suggested looking at the longer trend charts. Also noted that a close below $42.20 on weekly and then monthly charts would be telling.
Today BHP is dropping below 42.20 on a daily and still looks DOWN.
Sure the funds will case a rally and sell BUT do I believe the daily machinations or the charts?
Many writing here seem to repeat the trite found on the media re Greek debt. Note: Greece, Spain, Portugal, Italy etc debt is owed primarily to France and Germany and ...... so who's, in trouble?
Last year as I traveled from Changhai by train I saw express ways many incomplete, all with a few vehicles only and small truck. Village after village seemingly in the middle of nowhere with tens of tall units often (grouped in approx 10 and 5+ deep) what wed call a town etc but few people and many incomplete..... it's a bubble.
So back to the charts. The trendline from the low in 2008 has been broken....next drop and rally back to trend line and then fail.
I think the banks are in the same position and the AUD$ also. goodbye Australia.
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$38.81 |
Change
-0.530(1.35%) |
Mkt cap ! $196.9B |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 13092 | $38.80 |
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Price($) | Vol. | No. |
---|---|---|
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No. | Vol. | Price($) |
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1 | 77 | 38.780 |
2 | 523 | 38.770 |
1 | 6615 | 38.760 |
4 | 26213 | 38.750 |
Price($) | Vol. | No. |
---|---|---|
38.840 | 500 | 1 |
38.860 | 3000 | 1 |
38.870 | 180 | 1 |
38.900 | 38738 | 7 |
38.920 | 581 | 2 |
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