Watch BHP Biliton...Something is Brewing Here
• BHP Biliton just broke its 100-Day Simple & Exponential Moving Averages with potentially grave implication!
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The very last time this was broken was in July 2011 & its price went 19% down in the next 2 months.
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A similar decisive move shall bring the prices back down right at the support of its support channel as show above.
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Conclusion: This major iron ore company could be leading a more bearish tone in general commodities that spells similiar danger in equities. Indeed, a simple chart like this is sort of confirming the equities top that we are seeing now.
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Author: William Yii
William Yii
AlphaOmegaHedge
Alphaomegahedge is a financial blog that attempts to use the powerful tools of technical analysis plus the big picture of some important fundamental views in identifying major & intermediate trends of risky assets. My main focus are precious metals & miners, U.S major indices & Malaysia Equities.
Author is an equities fund manger who is currently based in Malaysia.
Rightly or wrongly, the views expressed on this blog are of author's personal opinion and shall neither serve as investment advice nor recommendation under any circumstances. All views are meant for educational purposes only.
Copyright © 2013 William Yii
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