Get­ting ham­mered

More down­side for BHP Bil­li­ton, Telkom

Finweek English Edition - - News -

WITH STOCK MAR­KETS world­wide get­ting ham­mered, we look at a com­mod­ity that af­fects the prices of a num­ber of large min­ing stocks on the JSE, namely cop­per. We also look at the chart of an un­re­lated stock Telkom (un­re­lated – apart from ca­ble-theft, that is). Telkom has bro­ken be­low im­por­tant sup­port lev­els and is point­ing to a lower share price to come. Mean­while, more down­side in cop­per is ex­pected, which typ­i­cally points to more weak­ness in BHP Bil­li­ton (the JSE’s largest stock). Short term, at least.

Please note: For more charts by the au­thor on shares, in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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