BHP GROUP LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	BHP
ISIN:

BHP GROUP LTD. - 1H - Technical analysis published on 01/19/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Neutral

Underlying: Strongly bearish

Technical indicators

61%

11%

28%

My opinion

Bearish under 61.38 USD

My targets

59.68 USD (-1.18%)

58.42 USD (-3.26%)

My analysis

With a strongly bearish trend, the price of BHP GROUP LTD. is trying to inflate a little while more or less stagnating in the short term. Is the price preparing for a rebound or a bearish rally recovery? Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 61.38 USD remains possible. It would be possible for traders to only trade short positions (for sale) on BHP GROUP LTD. as long as the price remains well below 61.38 USD. The next bearish objective for sellers is set at 59.68 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 58.42 USD. In case of crossing, the next objective would be the support located at 54.89 USD.

In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

2.7

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 60.39 USD. The price registered a decrease of -0.15% on the session with the lowest point at 59.72 USD and the highest point at 60.41 USD. The deviation from the price is +1.12% for the low point and -0.03% for the high point.

59.72

60.41

60.39

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by BHP GROUP LTD.:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of BHP GROUP LTD. indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the strongly bearish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Near support of channel

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	54.89	58.42	59.68	60.39	60.47	61.38	64.04
Change (%)	-9.11%	-3.26%	-1.18%	-	+0.13%	+1.64%	+6.04%
Change	-5.50	-1.97	-0.71	-	+0.08	+0.99	+3.65
Level	Intermediate	Intermediate	Major	-	Minor	Major	Intermediate

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	59.13	59.41	59.94	60.22	60.75	61.03	61.56
Camarilla	60.26	60.33	60.41	60.48	60.55	60.63	60.70
Woodie	59.27	59.47	60.08	60.28	60.89	61.09	61.70
Fibonacci	59.41	59.72	59.91	60.22	60.53	60.72	61.03

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	59.05	61.04	62.15	64.14	65.25	67.24	68.35
Camarilla	62.41	62.69	62.98	63.26	63.54	63.83	64.11
Woodie	58.61	60.82	61.71	63.92	64.81	67.02	67.91
Fibonacci	61.04	62.22	62.96	64.14	65.32	66.06	67.24

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	54.29	57.42	62.86	65.99	71.43	74.56	80.00
Camarilla	65.95	66.74	67.52	68.31	69.10	69.88	70.67
Woodie	55.46	58.00	64.03	66.57	72.60	75.14	81.17
Fibonacci	57.42	60.69	62.71	65.99	69.26	71.28	74.56

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):	41.75
MACD (12,26,9):	-0.4700
Directional Movement:	-12.04
AROON (14):	42.86
DEMA (21):	59.75
Parabolic SAR (0,02-0,02-0,2):	59.72
Elder Ray (13):	0.09
Super Trend (3,10):	60.85
Zig ZAG (10):	60.39
VORTEX (21):	0.9400
Stochastique (14,3,5):	80.45
TEMA (21):	60.03
Williams %R (14):	-11.11
Chande Momentum Oscillator (20):	0.52
Repulse (5,40,3):	0.5700
ROCnROLL:	-1
TRIX (15,9):	-0.1500
Courbe Coppock:	0.18

MA7:	61.89
MA20:	65.36
MA50:	63.12
MA100:	59.90
MAexp7:	60.23
MAexp20:	60.48
MAexp50:	61.79
MAexp100:	63.23
Price / MA7:	-2.42%
Price / MA20:	-7.60%
Price / MA50:	-4.33%
Price / MA100:	+0.82%
Price / MAexp7:	+0.27%
Price / MAexp20:	-0.15%
Price / MAexp50:	-2.27%
Price / MAexp100:	-4.49%

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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