BHP chart a bit worrying. Making its 6th touch on lower trend...

BHP chart a bit worrying. Making its 6th touch on lower trend line, will not be pretty if that breaks.

Commodities are still priced for strong global growth and not many signs of that around atm. Even emerging stars like Brazil GDP down 2.7% from 7.5% last year. Could this happen even to China? Chinese leadership signalling its not pushing for growth at any cost, trading partners in Japan and Europe close to, or already in recession, trade tensions with US growing. Copper, iron ore, coal have had a bit of froth blown off last year or so, but still at multiples of what they traded at a decade ago, with demand reportedly soft.

Still XJO is fairly cheap, perhaps AUD will bear the brunt of any downside and domestic stocks help support the index. Chance of a relief rally on Greece in short term, but not sure that fixes much.