BHP GROUP LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

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Volume:	-

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Type:	Stocks
Ticker:	BHP
ISIN:

BHP GROUP LTD. - Daily - Technical analysis published on 10/06/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

33%

My opinion

Bearish under 58.41 USD

My targets

53.13 USD (-5.66%)

50.27 USD (-10.74%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 58.41 USD remains possible. It is advisable to trade BHP GROUP LTD. with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 58.41 USD. The next bearish objective for sellers is set at 53.13 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 50.27 USD. In case of crossing, the next objective would be the support located at 42.37 USD. PS: if there is a bullish break in the resistance located at 58.41 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

3.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BHP GROUP LTD. rating 56.32 USD. On the day, this instrument gained +1.79% with the lowest point at 55.53 USD and the highest point at 56.44 USD. The deviation from the price is +1.42% for the low point and -0.21% for the high point.

55.53

56.44

56.32

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this BHP GROUP LTD. chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. An assessment of moving averages reveals a bullish signal that could impact this trend:

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : Daily

On the 18 technical indicators analysed, 6 are bullish, 6 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:

MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Upside gap

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	42.37	53.13	55.92	56.32	58.41	61.42	69.29
Change (%)	-24.77%	-5.66%	-0.71%	-	+3.71%	+9.06%	+23.03%
Change	-13.95	-3.19	-0.40	-	+2.09	+5.10	+12.97
Level	Intermediate	Major	Major	-	Major	Major	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	54.39	54.62	54.98	55.21	55.57	55.80	56.16
Camarilla	55.17	55.22	55.28	55.33	55.38	55.44	55.49
Woodie	54.45	54.65	55.04	55.24	55.63	55.83	56.22
Fibonacci	54.62	54.85	54.99	55.21	55.44	55.58	55.80

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	52.74	53.84	55.36	56.46	57.98	59.08	60.60
Camarilla	56.16	56.40	56.64	56.88	57.12	57.36	57.60
Woodie	52.95	53.95	55.57	56.57	58.19	59.19	60.81
Fibonacci	53.84	54.84	55.46	56.46	57.46	58.08	59.08

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	50.27	52.56	54.72	57.01	59.17	61.46	63.62
Camarilla	55.66	56.06	56.47	56.88	57.29	57.70	58.10
Woodie	50.21	52.53	54.66	56.98	59.11	61.43	63.56
Fibonacci	52.56	54.26	55.31	57.01	58.71	59.76	61.46

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	50.55
MACD (12,26,9):	-0.2400
Directional Movement:	-0.82
AROON (14):	-85.71
DEMA (21):	55.86
Parabolic SAR (0,02-0,02-0,2):	57.62
Elder Ray (13):	-0.02
Super Trend (3,10):	58.50
Zig ZAG (10):	56.32
VORTEX (21):	0.8400
Stochastique (14,3,5):	25.19
TEMA (21):	55.81
Williams %R (14):	-54.63
Chande Momentum Oscillator (20):	-1.19
Repulse (5,40,3):	1.1200
ROCnROLL:	-1
TRIX (15,9):	-0.0300
Courbe Coppock:	5.05

MA7:	55.92
MA20:	56.52
MA50:	56.46
MA100:	57.27
MAexp7:	55.79
MAexp20:	56.14
MAexp50:	56.60
MAexp100:	57.12
Price / MA7:	+0.72%
Price / MA20:	-0.35%
Price / MA50:	-0.25%
Price / MA100:	-1.66%
Price / MAexp7:	+0.95%
Price / MAexp20:	+0.32%
Price / MAexp50:	-0.49%
Price / MAexp100:	-1.40%

Quotes : - 15 min delayed data - NYSE Stocks

This member declared not having a position on this financial instrument or a related financial instrument.

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