BHP Billiton Limited (ASX:BHP) Downward Trend
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 25.09.
The projected upper bound is: 25.48.
The projected lower bound is: 22.91.
The projected closing price is: 24.20.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with BHP BLT FPO) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with BHP BLT FPO) and the first line is white and the second is black (which is not the case with BHP BLT FPO) then this suggests that the downtrend should continue.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 29.7873. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 39.29. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 33 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -67. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 14 period(s) ago.
Rex Takasugi – TD Profile
BHP BLT FPO closed up 0.350 at 24.220. Volume was 32% below average (neutral) and Bollinger Bands were 52% wider than normal.
Open High Low Close Volume___
24.000 24.260 23.900 24.220 6,098,290
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 24.69 25.93 22.78
Volatility: 42 32 38
Volume: 8,408,459 8,033,827 9,154,531
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
BHP BLT FPO is currently 6.3% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect moderate flows of volume out of BHP.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on BHP.AX and have had this outlook for the last 17 periods.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.