via StockCharts.com"
Overview :
BHP : Mining Conglomerate : Has formed a Head and Shoulder pattern.
And as if on cue it has broken out of the neckline at $86. Dropped by about
the distance from Head to Neckline to $72. Which actually formed the
termination of mini Wave iii.
Awaiting clearer signal as to whether $86 would be the resistance also
the neckline that was broken. Prices will test neckline before falling.
Strategy :
Await Reversal Signal from hereabout and especially the retest of the neckline.
Punching through the neckline upwards of $86 would negate this Elliot Wave
Count.
Bias is to await for reversal and Short from $86 thereabouts.
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