##{"id":59777,"date":"2012-04-11T11:47:33","date_gmt":"2012-04-11T01:47:33","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/04\/11\/bhp-shares-break-below-key-technical-support\/"},"modified":"2012-04-11T11:47:33","modified_gmt":"2012-04-11T01:47:33","slug":"bhp-shares-break-below-key-technical-support","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/04\/11\/bhp-shares-break-below-key-technical-support\/","title":{"rendered":"BHP Shares Break Below Key Technical Support"},"content":{"rendered":"<p>\n\t<span>BHP<\/span> <span>Billiton<\/span> ((<span>BHP<\/span>)) shares are on the verge of carving out a negative signal on price charts, reports the <span>TechWizard<\/span>. Over the past six months technical support at $34 has managed to withstand selling pressures and keep the <span>BHP<\/span> share price above support. Alas, today (Wednesday) the share price has finally tumbled below $34. The consequences? The Wizard believes closing below the $34 mark might well trigger more selling as it marks a deterioration of the technical picture for the Big Australian.<\/p>\n<p>\n\tMaking matters worse is the Wizard believes there&#039;s no genuine technical support to be found until the $28 mark, suggesting <span>BHP<\/span> shares might be in for a rough ride in the short to medium term.<\/p>\n<p>\n\tAll in all, for the shares to decisively change the current bearish picture <span>BHP<\/span> shares will have to rise above $36 (20 Moving Average), reports the Wizard. At this point in time there&#039;s no indication whatsoever this might be achieved, hence why the Wizard sticks with a hands-off view for now.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/BHP_Wizard_supportApril2012.jpg\" style=\"width: 670px;height: 343px\" \/><\/p>\n<p>\n\tThe <span>TechWizard<\/span> is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au. All views expressed are the <span>TechWizard&#039;s<\/span>, not <span>FNArena&#039;s<\/span> (see our disclaimer).<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span><span>apologise<\/span><\/span><em>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BHP Billiton shares have broken key technical support to the downside and the TechWizard believes rough times are likely to persist.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[23,89,88],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59777"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59777"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59777\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}