BHP GROUP LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

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Change:	-
Volume:	-

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Type:	Stocks
Ticker:	BHP
ISIN:

BHP GROUP LTD. - 1H - Technical analysis published on 07/22/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

50%

33%

My opinion

Bearish under 56.49 USD

My targets

54.95 USD (-1.20%)

53.50 USD (-3.81%)

My analysis

The bearish trend is currently very strong for BHP GROUP LTD.. As long as the price remains below the resistance at 56.49 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 54.95 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 53.50 USD as an objective. Crossing it would then enable sellers to target 51.82 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

7.1

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

The BHP GROUP LTD. price is 55.62 USD. The price is lower by -0.05% since the last closing and was traded between 55.38 USD and 55.80 USD over the period. The price is currently at +0.43% from its lowest and -0.32% from its highest.

55.38

55.80

55.62

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. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:

MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

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

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	51.82	53.50	54.95	55.62	55.68	56.49	57.75
Change (%)	-6.83%	-3.81%	-1.20%	-	+0.11%	+1.56%	+3.83%
Change	-3.80	-2.12	-0.67	-	+0.06	+0.87	+2.13
Level	Major	Minor	Major	-	Minor	Minor	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	54.36	54.73	55.19	55.56	56.02	56.39	56.85
Camarilla	55.42	55.50	55.57	55.65	55.73	55.80	55.88
Woodie	54.41	54.75	55.24	55.58	56.07	56.41	56.90
Fibonacci	54.73	55.05	55.24	55.56	55.88	56.07	56.39

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	50.73	52.92	54.28	56.47	57.83	60.02	61.38
Camarilla	54.67	55.00	55.33	55.65	55.98	56.30	56.63
Woodie	50.33	52.71	53.88	56.26	57.43	59.81	60.98
Fibonacci	52.92	54.27	55.11	56.47	57.82	58.66	60.02

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51.18	53.43	55.26	57.51	59.34	61.59	63.42
Camarilla	55.97	56.34	56.72	57.09	57.46	57.84	58.21
Woodie	50.97	53.33	55.05	57.41	59.13	61.49	63.21
Fibonacci	53.43	54.99	55.95	57.51	59.07	60.03	61.59

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):	32.25
MACD (12,26,9):	-0.5200
Directional Movement:	-26.73
AROON (14):	-42.86
DEMA (21):	55.48
Parabolic SAR (0,02-0,02-0,2):	55.93
Elder Ray (13):	-0.39
Super Trend (3,10):	56.44
Zig ZAG (10):	55.59
VORTEX (21):	0.7700
Stochastique (14,3,5):	27.33
TEMA (21):	55.36
Williams %R (14):	-67.95
Chande Momentum Oscillator (20):	-0.89
Repulse (5,40,3):	-0.1500
ROCnROLL:	2
TRIX (15,9):	-0.1300
Courbe Coppock:	4.16

MA7:	57.03
MA20:	57.60
MA50:	58.16
MA100:	57.76
MAexp7:	55.70
MAexp20:	56.17
MAexp50:	56.97
MAexp100:	57.41
Price / MA7:	-2.47%
Price / MA20:	-3.44%
Price / MA50:	-4.37%
Price / MA100:	-3.70%
Price / MAexp7:	-0.14%
Price / MAexp20:	-0.98%
Price / MAexp50:	-2.37%
Price / MAexp100:	-3.12%

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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