Immediate targets 58, 52. Invalidation at 97.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels...
It is a strange looking B Wave if it is actually one, but we can see a divergence on the horizon. Even if this is an upward Wave C, which it can be, we are still looking at a bearish scenario. All in all, there might still be a "bump" of one kind or another before we travel South on this one.
We are not in the business of getting every prediction right, no one...
So far ASX:BHP has been going strong from support price approximately $36.00, showing signs of trend reversal but it could be a counter trend move.
I am expecting a price correction here.
from here I expect price moving down to $38.00 , and then $37.00 levels.
finally if It gets down to $36.00 levels would offer good buying opportunity and that is where...
JSE:BHP close today resting right at the neckline of a textbook H&S. I wish it were not so, as I'm positioned for a bounce, but alas resources are not giving off good vibes at the moment, not good at all :-(
