Technical Analysis BlueScope Steel ASX:BLS (Bullish)

BlueScope Steel (ASX:BLS) is a world leading provider of steel materials, products, systems and technologies. With headquarters in Australia, BlueScope has operations spread across the globe, with offices in 18 countries. With an increasing focus on climate friendly products and a sustainable future, the outlook for BlueScope Steel is looking good.


  • Strong rebound from support zone at $20
  • Strong rebound from double top pattern, now looking to break through resistance level
  • Consistently increasing closing price over the past week
  • MACD looking to cross above MACD (EMA) indicating a buy signal

Chart Legend

Red/Yellow – MACD

Blue – MACD (EMA)


This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general securities advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of a securities adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any structure cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not be distributed to retail investors outside of Australia.