JSE:BHP | Look for buyers around 34000
Updated
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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