Sunday, February 28, 2010

Monthly Chart Update : BHP : Feb2010



Elliot Count :


If the count is correct the excruciating climb from the
crisis induced bottom and current price which I believe
has topped, is a corrective, counter rally. A substantial rally,
but still a slow climb with a lot of corrective top spikes. A
substantial rally because it has climb almost to the last peak.

whats to be seen from now, is a multi -month descend to complete
Wave "Z". Now that we have "Y" completed.

Volume :
From X to Y counter rally, although price was increasing, albeit
substantially from 20s to 40s, Price increases.

Prices Increases on Declining volume.
Bearish Divergent.

Stochastics :
Stochastics has put in 2 tops.
One in the beginning of Y and the other at the termination.

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