\t \n\tTechnical analysis is a method of predicting price movements and future market trends by studying charts of past market activity. Since BHP<\/span> Billiton<\/span> posted a bearish technical pattern (double top) at 50.00 — the first peak at the end of April 2008 and again the second peak in April 2011– the price action has had a steady decline and temporarily stabilised<\/span> above the 34.00 support level.<\/p>\n \n\tIn the last 24 hours BHP<\/span> has dropped to a low of 31.01. At this point there is no sign of bottoming out yet.<\/p>\n \tThe weekly graph above provides further indication prices should move lower from a break of 31.00. That said the intraday price action is showing a mild correction stance since the bounce off 31.00. On the upside, above 32.50 resistance will give a temporary bullish bias to 33.00-50, 36.00-36.50.<\/p>\n \tIn the bigger picture, as seen in September 2008, the break of 31.00 saw prices tumble to a low of 20.00 before staging an aggressive bull correction. \n\tRob Clayton – Senior Technical Analyst – has been providing technical analysis on Foreign Exchange, Futures, and Interest Rate products for the past 21 years. He held many senior analyst roles including the role of Senior Technical Analyst at Westpac Institutional Bank for 12 of those years. Rob is now part of the investments team at GTL<\/span> Capital Management. Rob’s daily reports are read by institutional and professional clients in Australia, Asia, Europe and the Middle East.<\/em><\/p>\n \n\tGTL<\/span> Capital Management provides proven managed trading services and technical analysis across multiple asset classes. Utilising<\/span> over 100 years of combined trading knowledge the investments team provides a dedicated focus on absolute returns for its clients. GTL<\/span> Capital Management Pty Ltd is a wholly owned subsidiary and a Corporate Authorised<\/span> Representative (#416815) of GTL<\/span> Tradeup<\/span> Pty Ltd ACN<\/span>: 145 955 906 ASFL<\/span>: 381 349<\/em><\/p>\n \n\tFor more information please visit www.gtltradeup.com.<\/a><\/em> \n\t \n\tRisk Warning: Trading in leveraged or geared products such as derivatives and margin foreign exchange carries a high level of risk to your capital and you should only trade with money you can afford to lose. We encourage you to consider your investment objectives, your risk tolerance and trading experience when deciding to deal in GTL<\/span> Tradeup<\/span> products. We recommend you seek independent advice. It is possible to lose more than your initial invested funds when trading in geared products. Trading derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved. <\/em><\/p>\n \n\tGeneral Advice: Any advice or trading view provided by GTL<\/span> Tradeup<\/span> or GTL<\/span> Capital Management is general in nature and does not take into account any of your objectives, financial situation or needs unless specifically agreed to by a statement of advice (SOA<\/span>). For this reason, before you act on any information, you should consider the appropriateness of the information to you and if necessary seek independent advice. The Financial Services Guide (FSG<\/span>) and Product Disclosure Statements (PDS<\/span>) for GTL<\/span> Tradeup<\/span> products are available from our website www.gtltradeup.com <\/a>or by contacting us by email: sales@gtltradeup.com or by phone: +61 2 8095 7520. The FSG<\/span> and PDS<\/span> should be considered before deciding to enter into any derivative or foreign exchange transaction with GTL<\/span> Tradeup<\/span>.<\/em> Robert Clayton of GTL Management suggests a four-year pattern is offering downside risk for BHP.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[89,88],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59988"}],"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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59988"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59988\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/1_2_bhp.jpg\")
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\n\tIf this pattern is repeated, then a break of the recent low at 31.00 may point the way towards the next support level is 26.50, thereafter 20.00-22.00.
\n\t <\/p>\n
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