login
Open Free Account

Resources

Technical Trade Note on BHP Billiton (BIL) - 21 September 2018

/
Technical-Trade-Note

It has been a month since my previous note on BHP Billiton, after hitting our target price the price action has moved significantly lower.

The price is currently testing the 31274c resistance line once again as seen in the chart below, it has been testing this line for some time now.

Here is an update on the charts.

Screen Shot 2018-09-21 at 11.34.13

Chart Source: Bloomberg

I am looking to enter once again if we get a daily close above the resistance level with my first target at 32263c per share. Technically the share price is trading above the 50-day simple moving average once again which supports the move higher.

Trade: BHP Billiton (BIL)

  • Entry (Buy): 31417c
  • Stop loss: 30493c
  • Target price: 32263c

Screen Shot 2018-09-21 at 11.38.02

Chart Source: Bloomberg

 

Trade Now!

 

gt247 Partnership Affiliate Program

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.

SEARCH ALL RESEARCH