BHP Billiton has had a solid bullish run since the start of 2016. After falling to a low of R136.30, the share price has steadily risen, reaching a recent high of R326.73. But the mood on the stock might just have changed...
If you look at the short-term trend-line, you can clearly see it's been broken. Where it found support before, it has now found...
BHP for the last two years has been quite the bullish pick of the ASX, after it's bear run from late 2014 it was an obvious investment for the long haul trader.
Now into late 2018, we can see that price is currently retesting structure at the range of DEC 2013 and JUL 2014. Currently ranging in the structure zone as displayed, accompanied by an RSI divergence,...
Comparing BHP billiton to Gold, Copper, and Oil - aka the "reflation" commodities. Note how there is a decent correlation that has completely diverged in the past few months. Billiton probably going to head downward
- Consolidating market : but within a Bullish market
- Coming down into an area of interest of support
- looking for T1 at 35's
- Stops below 31's
- Note: Its interesting to see these moves are made between 1-2 months apart.
Testing basic Renko system.
Enter Long when:
- 2 green bricks (top of 2nd brick + 5% brick size)
- Top of 2nd brick is above 10EMA
- bottom of 1st full brick under 10EMA -5% brick size
- 2 red bricks (bottom of 2nd brick - 5% brick size)
- close under 10EMA
Enter Stop Exit R Profit R...
I am short this one at 1032 let us see a move towards the flag as looking aewsome i am not seeing any kind of bull volume so staying in short is a good idea
Let me know if u have similar or other views about it.
Hi Everyone, there is a sell setup playing out here for BHP on the London Stock Exchange.
We are waiting for the break of the lower trend line and then will watch it on a lower time frame for a retest and rejection.
There is also a potential for it to bounce up to the top trend line where there would be another opportunity to sell although that would be higher risk.
Weekly chart shows
Falling trend line breached
Trades above 23.6% Fibo of July 2014 high-Jan 2016 low) = 932.85
Confluence of trend line support (rising+larger falling) seen around 880. Correction could run into fresh demand around 880 levels.
Another scenario - Rebound from 23.6% followed by a break above 1039 (last week's high) would open doors for a test...