Short
JSE:BHP | Look for buyers around 34000
This is a bit of a counter trend play - the longer term structure certainly remains up.
However, we've seen price drop off rapidly last week and I don't see any reason why serious buyers would step in before 34000, or thereabouts.
As such, a counter-trend short down to 34000 has my interest. At/if we see 34000, all bets are off. A failure at that level brings into question the longer term trend and will be a big worry for the bulls.
However, we've seen price drop off rapidly last week and I don't see any reason why serious buyers would step in before 34000, or thereabouts.
As such, a counter-trend short down to 34000 has my interest. At/if we see 34000, all bets are off. A failure at that level brings into question the longer term trend and will be a big worry for the bulls.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.