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Trading Setup On Watch: BHP Billiton BHG
The Friday before last (see related note, referenced) I mentioned 42200c to 42800c as a potential buy zone. On Friday we saw this range tested with a rebound and some upside follow-through.
What's key now is that both the candle structure stabilizes (i.e. a character change) and that we started to see strong bids being maintained around these levels.
Provided these conditions are met, the upside target is +46500c. The potential price path, unchanged from my related comment on 20-October, is also on the chart.
Trading Setup On Watch: BHP Billiton BHG
The Friday before last (see related note, referenced) I mentioned 42200c to 42800c as a potential buy zone. On Friday we saw this range tested with a rebound and some upside follow-through.
What's key now is that both the candle structure stabilizes (i.e. a character change) and that we started to see strong bids being maintained around these levels.
Provided these conditions are met, the upside target is +46500c. The potential price path, unchanged from my related comment on 20-October, is also on the chart.
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