BHP Billiton, is a trade that we are currently short on from 1408, utilising our absolute return strategy - Trend Following.
The chart shows lower highs and breaks to the DS of key horizontal & ascending TL support levels, which the market has failed to hold and has in turn broken further to the downside, after watching the pair consolidate within an equidistant...
Daily chart pattern – Two year long falling trend line has been breached
RSI eyeing bullish break
Money flow index suggesting further gains
Prices thus appear on track to test next major hurdle seen directly at 1156.27 levels (38.2% Fibo of 2014 high – 2016 low).
Bullish invalidation is see only if prices see a day end close...