R521 is evidently horizontal support and the anchored vwap from July 22 lows. It should now attack resistance at R568. Over R568 opens up further upside with a view for new highs
A long position has been triggered on JSE:BHG . We could see this move go all the way to the target at around the 507 level. Be mindful of the resistance level at around the 460 level.
This is NOT The year for Resources I must say. BHG is showing 3 patterns of downside to come. 1. Inverse Cup and Handle large. 2. Medium Inverse Cup and Handle and 3. Descending Triangle... If it breaches below the neckline (brim level), we can see an easy target to R325.00
JSE:BHP has broken out of a sideways consolidation area and I could see it moving up to close the gap formed on 1 September. Target would be around 45200 level.
After a nice short position, JSE:BHP seems to be struggling to break through the support level at around 42000. If the price action continues upward, I will consider entering a long position. we could potentially see a Head and Shoulders pattern forming in the coming weeks as well.
BHP Group in South Africa broke down towards the end of Feb from a rising bullish channel that was in place since early 2016. After breaking down from this channel, the stock dropped a further R100 very rapidly in the space of 2 weeks before bottoming out on high volume. The stock has spent the better part of 4 weeks regaining this massive drop, but i believe this...
JSE:BHP has broken upwards through the triangle I mentioned in my previous idea. Couple with this, it has broken a fractal level, so I am entering a long position.
JSE:BHP has formed a symmetrical triangle chart pattern. This is a neutral pattern, so it isn't indicating an up or down move as of yet. Once it breaks through either side, we will be able to enter a trade. Let's keep an eye on it for now.
JSE:BHP has failed to break out of the downward trending channel that it has been trading in and has once again bounced off the top for a downward move. We could see it continue down to the bottom of the channel, but it might also find some resistance around the 31000 level as it has before.
JSE:BHP is trading in a downward channel. It has reached the top and will most likely be heading down towards the bottom of the channel. Failing that, a break out through the top could mean a long position.
