BHP BILLITON | Heading Towards 16.00 ???
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.
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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, we have a strong reason to believe that price has completed its pullback and is headed on back down to the low of JAN 2016.
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A break and close over the trend-line would place us in an ideal position to short the stock.
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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, we have a strong reason to believe that price has completed its pullback and is headed on back down to the low of JAN 2016.
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A break and close over the trend-line would place us in an ideal position to short the stock.
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