BHP Billiton Limited (ASX:BHP) Short Term Downward Trend
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
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: 26.23.
The projected lower bound is: 23.54.
The projected closing price is: 24.89.
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.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 92.4486. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 47.05. 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 35 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 13. This is not a topping or bottoming area. The last signal was a buy 2 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 16 period(s) ago.
Rex Takasugi – TD Profile
BHP BLT FPO closed down -0.220 at 24.900. Volume was 89% below average (consolidating) and Bollinger Bands were 30% wider than normal.
Open High Low Close Volume___
24.860 24.920 24.810 24.900 972,261
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 24.59 25.91 22.84
Volatility: 43 33 38
Volume: 8,359,377 8,192,353 9,175,569
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 9.0% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 19 periods.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.
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