Just an update to see how this chart is tracking. No backtest of the broken wedge pattern as I thought, not surprising really!
The thick blue channel has been broken and is now being backtested. MACD and Histogram still trending down and stochastics are flatlining on the bottom. I've thrown some of Robbbs arrows on the chart to guage the depth of the fall. The brown range is the first range down from the May 2008 top. If this backtest fails the brown range down and a test of LT support at 36 and the bottom of the thin blue channel looks to be the money?
I think Robbb was waiting for a higher low as confirmation of a bottom, still waiting........
pure speculation as always.
Rhodes
BHP Price at posting:
$37.60 Sentiment: None Disclosure: Not Held
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