BHP 1.74% $44.58 bhp group limited

it's a buy, page-12

  1. 7,728 Posts.
    That rectangular pattern from August to now looks like a continuation flag, where price consolidates in a range --$4 here, half of BHP's famous $8 range-- and then....continues in the same direction: UP.

    I could be wrong, but it looks very much like the previous, late March to May flag. Three attempts at a high, the last mildly succeeded, pulled back and went on to make the June high at the 161.8% fib extension.

    Were that to be repeated now, we pull back, then go to 161.8% fib at $42.40.

    The circled top right corner of the previous pattern looks identical to the last 3 trading days of now, too: price gaps up to make a new high, falls back slightly the next day.

    Moving averages and indicators are pretty much at the same formation both times, too.

    Chart with and without the clutter:


 
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