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BHP Chart warning of reversal

BHP Billiton Ltd (Australia) shows a cycle of 600 days cycle. It has come to kiss the trend line every 600 days since year 2000. So it has now, but this time from below the trend line. My guess is it will move down from here.

"Do your own homework. I only give ideas"
Cheers
 

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Re: Uranium companies on the ASX?

in regards to BHP

BHP's Olympic run stalledBARRY FITZGERALD
October 7, 2009 - 12:55PM
Production at Australia's biggest underground mine, BHP Billiton's Olympic Dam operation in outback South Australia, has been hit by a mechanical failure in the biggest of its two haulage shafts.

The mine last year hauled close to 10 million tonnes of copper, uranium and gold ore to the surface for treatment.

The value of its production was $1.8 billion (193,000 tonnes of copper, 4000 tonnes of uranium and 108,000 ounces of gold).

The production setback comes as BHP gets close to making a decision on converting Olympic Dam from an underground mine to one of the worlds biggest open-cut operations at a cost of $15-$20 billion.

The breakdown in the Clark shaft means that BHP will struggle to continue to haul the massive volumes of ore - from depths of below 400 metres - required to keep the surface treatment plant and processing facilities at full capacity.

BHP is still assessing the time it will take to return the Clark shaft to production and has told the stock exchange that it was unclear what impact the incident would have on production. A secondary haulage shaft is now being used.

BHP told the exchange that the mechanical failure occurred at 10.30pm yesterday. The haulage system used at Olympic Dam is fully automated, and no-one was injured in the incident.

''A full investigation is underway to determine the cause of the failure and the extent of the damage,'' BHP said.

''The safety of our workforce will take priority in determining any re-start of haulage operations,'' it said.

Safety at BHP operations has come under scrutiny following five deaths at its iron ore operations in the Pilbara in the June year, prompting an independent review under West Australian safety legislation.
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thankyou have a niceday
 
Just contemplating the situation with one of the heavier traded stocks on the ASX. BHP have had a strong bounce off of a precision support level of $20. What is more noticeable is the declining volume accompanying the rising share price. To me BHP is in no-mans-land with continued uptrend lacking supporting volume. The 100 share buyers aren't making much impact. Volume is much less than the previous bull run. Rising price and falling volume. Just an observation as I familiarise myself with AB. $30 before $50 -- who knows.

Blurry so have to click on image twice.
 

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bhp looks like its trading in a fairly constant channel. To my eyes resistance would be at approx 38$ at the moment, but from day to day the bottom of that channel appears to be trending up. I sold out of paladin which has been trending down and bought into bhp today as it appear to be trending up. Have I read that chart right?
 
As mentioned on the XAO banter thread this is what I'm looking for from BHP as a short set up.

For the trade to set up to my liking and provide me with an entry I want to see an attempt to fill the gap but price to fail around $41 (but the set up will still be valid if the gap is closed but we need to see a very weak close on the bar that closes the gap).

1st target would be around $38 but we could fall to around $36.50 if this plays out because this stock can move quickly in either direction once it gets some momentum up.

2nd chart has some other examples of Island reversals in BHP over the last 6 months or so - some of them probably test the boundaries of a true island reversal but don't be a dick for a tick. They all have the same basic principle, a gap in the direction of the trend and then a gap in the opposite direction, some have had attempts at filling gaps but they all signal a reversal of sorts of the latest wave. It also shows that when BHP has a break away gap it normally provides a decent movement in that direction.
 

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Can anyone tell me where BHP is going?? I truely thought that it would have reversed by now. I didn't think it would break $42 resistance. Does that mean it will become a resupport?? What do people think?? Or will there be a major correction tomorrow??
 
nomore4s said:
For the trade to set up to my liking and provide me with an entry I want to see an attempt to fill the gap but price to fail around $41 (but the set up will still be valid if the gap is closed but we need to see a very weak close on the bar that closes the gap).
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As a bit of a follow up to this post.

A trade was never taken due to the set up never presenting the way I wanted. The gap was filled and while we did see a weakish close it wasn't weak enough for me to justify a short entry, so I stood aside.
 
Nearly 2 months since a comment on the big Australian. Does anyone else see 3 peaks and a domed house over the last few months??

It possibly means a retracement to $36 or even $32.

brty
 

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BHP Billiton has been forced to suspended production of nickel briquettes at its Kwinana refinery after running out of hydrogen.

With the onsite hydrogen plant broken and the usual back-up supplies from BP unavailable, BHP had no choice but to close down refinery operations on Monday.

It was not clear last night how long the refinery would remain shut and what impact it would have on this year's production targets for BHP's Nickel West unit.
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http://au.news.yahoo.com/thewest/a/...o-suspend-kwinana-nickel-refinery-production/


Iam currently short BHP on a technical basis for better or for worse .

nice low % loss on MY definative stopout point give or take a gap thats been known to happen ..............

position sizing
 
Rumours in the UK (UK FT, The Times and Daily Mail) expect BHP Billiton to bid for the gas company, BG Group: http://www.bg-group.com
http://www.ft.com
Rumours of this possible takeover have been long running and have been repeated again this week.

Following on with the BHP interest in the Falkland Islands. The following article gives a little more information; remembering BHP is interested is in Falkland Oil and Gas: http://www.desirepetroleumshares.co...e-result-of-the-first-well-is-due-within-days

Disclaimer: I have interests in all companies mentioned above, including all the explorers in the Falkland Islands.
 
With the present expectations on iron ore prices and increasing bullishness in the UK (note article by UK Daily Telegraph tipping BHP (LSE:BLT) yesterday); BHP Billiton looks set to continue on its upward path.
 
noirua said:
Rumours in the UK (UK FT, The Times and Daily Mail) expect BHP Billiton to bid for the gas company, BG Group: http://www.bg-group.com
http://www.ft.com
Rumours of this possible takeover have been long running and have been repeated again this week.

Following on with the BHP interest in the Falkland Islands. The following article gives a little more information; remembering BHP is interested is in Falkland Oil and Gas: http://www.desirepetroleumshares.co...e-result-of-the-first-well-is-due-within-days

Disclaimer: I have interests in all companies mentioned above, including all the explorers in the Falkland Islands.
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I hope they will. BG Group just signed a monster csg deal with china to sell our gas. I'd love to see qgc back into australian hands. My only disapointment is BHP didn't go straight for qgc.
 
noirua said:
noirua said:
BHP Billiton's Falkland Island enterprising interests could be major, even for the big Aussie: http://www.fihplc.com/investmentinfogl/index.php?section=3
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Rockhopper Exploration has reported an oil strike off the Falkland Islands. This is not an area that BHP has an interest as theirs is with Falklands Oil and Gas Limited.

This strike does look positive for BHP as they are involved in the area already.

Something to look at with old Henry causing problems on home shores.

(I have an interest in all the companies exploring in the Falklands)


NB. BHP shares are rising in London. **** Hope you're not fast asleep.
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Well how things can change in a matter of minutes as BHP suddenly reverses to drop 5% from its days peak in London to finish just 0.7% down on the day.

Maybe there is no commercial oil in the areas covered by Falklands Oil and Gas Limited. On the other hand it could be a massive strike only beaten by Saudi Arabia.

Having been clobbered by the 'Great Lord' Henry it may be difficult for investors to look outside of Australia.
 
BHP shares have risen 3% on the LSE. The way for the big guy to avoid some of Henry's tax is to put more efforts into the Falkland venture reported to have around 3 billion barrels of oil around the Falkland Islands.
Avoiding new expensive ventures in Australia may be the name of the game if Henry wants most of the profits.
 
noirua said:
BHP shares have risen 3% on the LSE. The way for the big guy to avoid some of Henry's tax is to put more efforts into the Falkland venture reported to have around 3 billion barrels of oil around the Falkland Islands.
Avoiding new expensive ventures in Australia may be the name of the game if Henry wants most of the profits.
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A link to one of the explorers off the Falkland Islands that augers well for BHP who have interests in the area and a tie-up with Falklands Oil & Gas: http://www.businessweek.com/news/20...od-quality-oil-in-falklands-islands-find.html

(disclaimer: I have an interest in BHP, Falklands Oil & Gas, Desire Petroleum and Rockhopper Exploration)
 
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