BHP trade ideas
commodities boom comingBHP + commodity prices will rise in the coming
years. The month chart shows an inverse H +S formation.
which is a very reliable pattern.
BHP will hold up the ASX200 when the banks get smashed.
a nations real wealth is its commodities not
paper currency. BHP still on its 5th wave blow off .
BHG showing downside to come but with a LOW probability - SMCInv Cup and Handle (Bearish) formed which the price broke below.
Price>200 - Bullish This is conflicting which shows sideways movement.
Target R451.27
Low prob trade due to SMC Read below
SMC
The price is at the moment in an Order Block (Sell Side Liquidity) Look at previous levels of supports (it's all around here at R514.70.)
This is where Orders get the long (buyers) out of the market which sells their positions and the Big Guys buy which pushes the price up.
With price above 200SMA and with the Order Block - It's for this reason the long trade is a LOW probability one. WHich I'm probably going to leave alone as there can be chop in the next few days.
Buy ideaAs you see on the chart we will have a big probability to have an uptrend after the breakout with force the resistance line by a big green candle with a large green volume. So, in other hand we could have a reversal trend after the breakout with force the support line and the vwap indicator by a big red candle with a large red volume.Thanks!
BHGBHP Group (BHG) | Medium Term Near Overbought + Testing Prior Swing Highs | IN late October the idea was to buy BHG on a pullback to between 42200c and 42800c. The share retraced to test 42600c and has since seen a strong rally to test ATH’s on Friday. This is also the swing highs extending back to the peak of 01 April 2022 which may be encourage short term sellers to come out of the woodworks. Would I be a buyer here? No. Would I be a sellers here? No, instead I would look for an overshoot of the highs and failure to hold as a signal to sell/reduce.
China's ban on Australian Coal is about to end.According to Reuters, "China Energy places an order to import Australian coal, sources say". If China's economy opens up, its construction industry will undoubtedly intensify. This will increase the demand for Coal. Additionally, as China lifts the ban on Australian coal, the biggest Australian Coal exporting company will most likely benefit from this shift, Glencore and BHP.
BHG: Consolidation before Moving for Top ResistanceBHG price is close to upper resistance, price can have a short-term pullback before attempting new highs on a weekly basis. The RSI4 is close to being overbought while it has been 21 weeks since a low on the share.
The expectation is for price to make a swing high on the weekly chart & begin a downtrend which can allow the RSI to cool, price is then expected to challenge for the upper resistance of the megaphone pattern. Ideally this share is for those already holding or looking for points to take profit.
BHGA comment from the client group. For more research insights, including trade ideas, get in touch today.
Trading Setup On Watch: BHP Billiton BHG
The Friday before last (see related note, referenced) I mentioned 42200c to 42800c as a potential buy zone. On Friday we saw this range tested with a rebound and some upside follow-through.
What's key now is that both the candle structure stabilizes (i.e. a character change) and that we started to see strong bids being maintained around these levels.
Provided these conditions are met, the upside target is +46500c. The potential price path, unchanged from my related comment on 20-October, is also on the chart.