Technical Analysis BHP – ASX:BHP (Bullish)

BHP is world leading resource company, who both extract and process minerals, gas and oil. Operating primarily in Australia and the Americas, their products are then sold worldwide.

Chief Executive Mike Henry has a vision of building BHP’s strength in ”future facing commodities”- minerals which the world will rely on to progress into a cleaner, greener an more technologically advanced place.  A member of the ASX 20, investors have enjoyed a steady rise over the years.

BHP is accessible for investors on the Australian Stock Exchange, London Stock Exchange and the New York Stock Exchange.

ASX:BHP – Buy and hold for long term, further expected benefit from good dividend history.

  • Support zone tested multiple times with strong rebound. Now trading well above support zone with potential for new support zone to establish around $46.
  • Continued general upward trend.
  • MACD line has begun turning back toward EMA to soon cross above, indicating a buy signal.

Chart Legend

Red/Blue – MACD line

Green – MACD (EMA)

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