I have been following the progress of BHP here on my blog. I mentioned that the double head and then failure of the support at the bottom of the long term distribution should see the stock head to towards the GFC low. It looks like that is a very real possibility.
BHP weekly chart
WPL weekly chart showing a double bottom but the bounce ran into the flat kijun and was rejected. It will be interesting to see what it does when it comes back to test the long term support again. Lets see out of interest what happens.
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