A price action above 55700 supports a bullish trend direction.
Further bullish confirmation for a price action above 57900.
The profit target is set at 60200.
The stop-loss level is set at 54200.
Remains above its 200-day simple moving average.
Remains a risky trade.
JSE:BHG failure to trade above R606, for now, and the potential lower high at R560 means that the stock is bearish for now. R520 potential support level can still save JSE:BHG , otherwise the stock will continue to trade lower. R520 is a level of interest for short/long.
BHP + commodity prices will rise in the coming
years. The month chart shows an inverse H +S formation.
which is a very reliable pattern.
BHP will hold up the ASX200 when the banks get smashed.
a nations real wealth is its commodities not
paper currency. BHP still on its 5th wave blow off .
Inv Cup and Handle (Bearish) formed which the price broke below.
Price>200 - Bullish This is conflicting which shows sideways movement.
Target R451.27
Low prob trade due to SMC Read below
SMC
The price is at the moment in an Order Block (Sell Side Liquidity) Look at previous levels of supports (it's all around here at R514.70.)
This is where Orders get the long...
There is a triple negative divergence with BHP and the RSI and Stochastic RSI on the 3 monthly timeframe. BHP is forming a long term rising wedge on the log charts. We should get a reversal to the downside before the move up.
As you see on the chart we will have a big probability to have an uptrend after the breakout with force the resistance line by a big green candle with a large green volume. So, in other hand we could have a reversal trend after the breakout with force the support line and the vwap indicator by a big red candle with a large red volume.Thanks!
Target reached for Billiton from the falling pennant at R598.37
21>7 >200 - This tells us mixed feelings where the price could be moving sideways for the next few weeks.
RSI>50 - Still bullish bias
Wait for the next setup and breakout.
Nice Bullish engulfing as BHP retests the previous resistance. The level held for support Stock looking great for a run higher. Still carries the risk of retracing the 50 day EMA. As it has run quite a distance away from it
BHP Group (BHG) | Medium Term Near Overbought + Testing Prior Swing Highs | IN late October the idea was to buy BHG on a pullback to between 42200c and 42800c. The share retraced to test 42600c and has since seen a strong rally to test ATH’s on Friday. This is also the swing highs extending back to the peak of 01 April 2022 which may be encourage short term...
According to Reuters, "China Energy places an order to import Australian coal, sources say". If China's economy opens up, its construction industry will undoubtedly intensify. This will increase the demand for Coal. Additionally, as China lifts the ban on Australian coal, the biggest Australian Coal exporting company will most likely benefit from this shift,...
Now +30% from original long idea on 01 November (see attached). Update: Approaching overbought & near tail-end of short term 'excess phase' + trading more than 2.5 it's std deviation over 200 days.
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BHG price is close to upper resistance, price can have a short-term pullback before attempting new highs on a weekly basis. The RSI4 is close to being overbought while it has been 21 weeks since a low on the share.
The expectation is for price to make a swing high on the weekly chart & begin a downtrend which can allow the RSI to cool, price is then expected to...
