BLT.L closes below its opening price unable to hold early session gains
BHP (BLT.L) Technical Analysis Report for Sep 14, 2018
Moving higher for the 3rd day in a row, BLT.L ended the week 0.75% higher at 1530.40 after gaining £10.40 (0.68%) today. Today's closing price of 1530.40 marks the highest close since September 6th. Trading £14.20 higher after the open, BHP was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was £19.40 (1.26%), that's far below last trading month's daily average range of £33.59. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
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