Tradingfxdaily.com
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
Tradingfxdaily.com
No Result
View All Result
Home Forex

BHP Group to explore new territory of $53 per share?

tradingfxdaily by tradingfxdaily
August 15, 2022
in Forex
0
BHP Group to explore new territory of $53 per share?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

January 31, 2023
Dollar Slips, Euro Approaches Parity Ahead of ECB Meeting By Investing.com

Dollar hits one-week high on caution ahead of central bank meetings By Investing.com

January 31, 2023

This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.

In addition to BHP’s results, the miner announced an AU $8.4 billion to acquire OZ Minerals (ASX: OZL) last week. As OZ Minerals have already rejected the take-over offer, additional rounds of bids will likely follow over the next week or two.

The monthly chart indicates that BHP is currently in a bullish trend and has tested a key resistance just above $48 a share twice in the past month and a half.

BHP is currently trading inside a parallel channel, and it looks like it might be about to bounce from the support, in confluence with the 50-DMA.

Fibonacci extension levels indicate that the price might reach an all-time high of $53, if bullish fundamentals continue.

ASX: BHP 1M, with 50-Day moving average and Auto Fib Extension Indicators

From the perspective of the daily time frame, BHP looks a little more vulnerable with the suppression of Iron Ore prices, one of its primary exports. It was only last month that the mineral rebounded from a multi-month low, from $101 USD/T to $110 USD/T but is still contending with the dark clouds hanging over the Chinese construction sector. However, Iron Ore is mor eon the side of oversold rather than overbought according to the RSI indicator.

Iron Ore Futures 1D compared to ASX:BHP, with RSI Indicator

Source link

Share76Tweet47

Related Posts

Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

by tradingfxdaily
January 31, 2023
0

USD/JPY Price, Chart, and AnalysisUSD/JPY has seen modest gains in JanuaryThey’ve taken it through a previously dominant downtrendHowever it’s still...

Dollar Slips, Euro Approaches Parity Ahead of ECB Meeting By Investing.com

Dollar hits one-week high on caution ahead of central bank meetings By Investing.com

by tradingfxdaily
January 31, 2023
0

© Reuters By Geoffrey Smith Investing.com -- The dollar hit its highest level in a week in early trading in...

Richmond Fed manufacturing index for May -9 vs. +9 estimate

The @Newsquawk European FX Update || Dollar defies bearish month end dynamics into FOMC

by tradingfxdaily
January 31, 2023
0

EUROPEAN FX UPDATE: Dollar defies bearish month-end dynamics into FOMCDXY The Buck bounced further amidst another downturn in broad risk...

GBP/USD grinds lower and braces to 1.2500 after mixed US economic data

GBP/USD remains depressed near 1.2300 mark, multi-day low amid stronger USD

by tradingfxdaily
January 31, 2023
0

GBP/USD turns lower for the third successive day amid notable USD demand. The prevalent cautious market mood is seen underpinning...

Euro Steadies Ahead of Crucial Fed and ECB Meetings This Week. Higher EUR/USD?

Euro Steadies Ahead of Crucial Fed and ECB Meetings This Week. Higher EUR/USD?

by tradingfxdaily
January 31, 2023
0

Euro, EUR/USD, US Dollar, Fed, ECB, China PMI, AUD/USD. Crude Oil - Talking PointsEuro support eased as markets look toward...

Load More
  • Trending
  • Comments
  • Latest
Short SPX: Top Trade Opportunities

Short SPX: Top Trade Opportunities

April 5, 2022
The Top 5 Metaverses to Look Out for in 2022

The Top 5 Metaverses to Look Out for in 2022

March 26, 2022
What is Leverage in Forex? Forex Leverage Explained

What is Leverage in Forex? Forex Leverage Explained

April 19, 2022

Larry Fink says globalization is over — Here’s what it means for the markets

March 26, 2022
Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

March 28, 2022
Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

0

In a Less-Globalized World, Be Careful Where You Park Your Plane

0
Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

0

Larry Fink says globalization is over — Here’s what it means for the markets

0
Natural-Gas Industry Gets Boost as Biden Shifts Stance

Natural-Gas Industry Gets Boost as Biden Shifts Stance

0
Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

January 31, 2023
Black woman who fought enslavement honoured with Canada Post stamp – National

Black woman who fought enslavement honoured with Canada Post stamp – National

January 31, 2023
What Is the Internal Revenue Code? Definition & History

What Is the Internal Revenue Code? Definition & History

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023
Ukraine willing to be neutral, says Russia wants to split nation By Reuters

Australia deploys more experts, equipment to search for lost radioactive capsule By Reuters

January 31, 2023
Tradingfxdaily.com

Tradingfxdaily.com is your Forex, Stock News, World News, Crypto Currency News, Business News & NFT News Website. We provide you with the latest breaking news and videos straight from the Trading industry.

  • Home
  • About us
  • Contact Us
  • Privacy Policy

© 2022 - All Right Reserved. tradingfxdaily.com

No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar

© 2022 - All Right Reserved. tradingfxdaily.com

EURUSD=X 
$1.08  -0.22%  
EURCAD=X 
$1.46  0.29%  
EURJPY=X 
$141.24  -0.16%  
GBPUSD=X 
$1.23  -0.29%  
EURNZD=X 
$1.68  0.40%  
AUDUSD=X 
$0.6999  -0.89%  
CADUSD=X 
$0.7437  -0.45%