BHP tested the support on Thursday and had a small lift off that support. The daily indicators are looking quite bearish and given the growing credit problems in China, there is a good chance that we might see a test of the long term support in the week ahead. If that long term support fails, that will be extremely bearish for the ASX 200 in general because BHP makes up such a large portion of this index. We wait and see what happens now.
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