weekend charting elevator week 7th may, page-36

BHP chart.

BHP often moves in $8 ranges. From the April high to low is close enough to $8 drop.

The next significant support should be $36. Overnight ADR's in New York came within about 25 cents of that level, but settled at $AU equivalent of $37.65.

Price keeps dropping or coming back to around $37.50 for now.

Daily is oversold, but weekly suggests further falls possible.

50% fib of may 2008 all time high to november 2008 low is $35