It is a strange looking B Wave if it is actually one, but we can see a divergence on the horizon. Even if this is an upward Wave C, which it can be, we are still looking at a bearish scenario. All in all, there might still be a "bump" of one kind or another before we travel South on this one. We are not in the business of getting every prediction right, no one...
History says it will. I expect next years rate hike will lead to a rally in PM's and commodities, as it did back in early 2016.
Fundamentally sound - both BHP and RIO Iron ore prices testing key trend line support on longer-term charts Weekly BHP is testing 0.618 and RIO 0.5 FIBs Gold miners NST and NCM testing support but need more confirmation as they are sensitive to USD fluctuations. Possible trading options: Leaps Put sell
BHP breaking out to the upside soon? The chart pattern is showing an uptrend bull flag.
The Natural Resources sector - here represented by BHP (in green) and Rio Tinto (RIO, in orange) - does not generally act as an early indicator against the broader market (here represented by the DJIA in gray, and the NASDAQ in black)... only possibly during the fall in their share prices over Jul and Aug of 2018.
JSE:BHP close today resting right at the neckline of a textbook H&S. I wish it were not so, as I'm positioned for a bounce, but alas resources are not giving off good vibes at the moment, not good at all :-(
BHP GROUP LIMITED long short month
1- Trend analysis: Higher prime numbers mean we are in an uptrend. When the bands are moving upward direction, the market has a Bullish Direction. Lower and lower prime numbers mean we are in a downtrend. (If the bands are moving Downward direction) 2- Volatility: Narrower bands mean stock price is less volatile. Wider bands indicate share price is volatile. 3-...
In this special idea I apply the AriasWave methodology to a stock by incorporating the main pattern in Global Markets. See related idea below for the DOW JONES to understand this pattern. I will post an idea shortly for the FTSE 100. Using the AriasWave framework and the main pattern which a TYPE-2 ZIG ZAG I apply careful and precise wave analysis to this...
$MGX up up and beyond with Ironore price near record since 2010
It doesn't get more beautiful than this. neckline outlined in dotted line with clear, concise left and right shoulder. 100% measured move at $58. long the throwback if possible.
It looks like H&S formation is being completed in #BHP. That potentially gives a hefty 40+% upside towards April 2011 high.
Time to go long on Mining stocks. $RIO $BHP and $FMG all have bullish chart patterns in play for next month and early 2021.
The Head & Shoulders that was alerted a few weeks ago played out quite nicely, but didn't quite reach it's target. At it's bottom, it formed a bullish engulfing candle pattern which is an upward move signal. The stochastic and MACD are confirming an up, so if it breaks today's high, I will enter long.
JSE:BHP has formed a Head and Shoulders pattern and has broken through the neckline on its way downwards. If the pattern plays out, we could see a move down to the target at around the 28900 level
POLITICAL AND MARKET CONTEXT Specialized on silver production that is a basic raw material of photovoltaic solar panels. Renewable energy consumes up to 30% of world silver production. If Trump wins, price of metal might still rising due to his monetary (inflationary) policies. If Biden wins, BHP will be a huge player as a raw material supplier of a...
When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart. So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not...
Technical looking very strong leading into earnings. Additionally, fundamentally BHP will be paying healthy dividends and benefit from be in the right part of the resource cycle. For example, Iron ore is now virtually back to GFC price highs.