Where from here with BHP.ASX ( Not London or NYSE) ? Lets look at our charts for some guidance.
First the monthly chart of BHP with the anticipated XABC CORRECTION giving us a C TARGET of $18.14. All work on the chart. Ignore top left corner studies, not relevant to this chart but rather to the next chart. Would this be the case ?
Now daily P&F 3 Box Chart, H/L, Box Size 40 cents BHP Chart below for a Tentative Bearish Price Objective taken from the 2011 top.
The Tentative Bearish Price Objective using Horizontal Count method is @ $18.72 from this chart as shown.
Therefore it may be reasonable to assume that we may see BHP trading below $19.00 over the coming days weeks.
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