i think that the candle left yesterday was quite bearish and today confirms that movement. I had gone long on friday as it broke north of my allens pitchforks and the weekly stock had kicked up. Yesterdays candle and todays confirmation look quite bearish IMHO. A move lower wouldn't suprise me and i am well short ATM as of today. The monthly stoch is still pointing downward with room to move. I don't know which way its going to go. I think it could go either way. The whole index looks set to move up but the saying is that when everyone is most bullish is the most likely time for a dowturn.
And the other thing is that when brockerage firms put out guesstimations on future prices they are sooo often wrong. It can often be beneficial to take a contrarian appraoch, particularly with the mining companies. Just my observations .. . . have a look at the downgraded that brockerage firms put out on the resource sector just prior to this move - RIO from 28 to 38 dollars and BHP from low 8 to high 12's >35% rises.
Anyway see how you go.
kman
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Last
$114.45 |
Change
0.460(0.40%) |
Mkt cap ! $42.48B |
Open | High | Low | Value | Volume |
$113.72 | $114.51 | $112.97 | $119.2M | 1.045M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 89 | $114.45 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$114.51 | 579 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 397 | 114.400 |
1 | 34 | 114.250 |
1 | 250 | 114.200 |
2 | 197 | 114.150 |
1 | 210 | 114.140 |
Price($) | Vol. | No. |
---|---|---|
114.600 | 180 | 1 |
114.620 | 2462 | 1 |
114.680 | 250 | 1 |
114.690 | 197 | 4 |
114.700 | 310 | 1 |
Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
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