Screen Shot 2017-03-20 at 1.31.13 pm

BHP Billiton has almost doubled since its Jan 2016 multi-year low, so does it still have strong legs left for more upside?

Looking at its fib retracement from the 2011 price top, it hit its 61.8% rectracement level & is now testing its 2016 recovery support trendline. A higher risk trade now would be long it back to its 61.8% level, but a stronger price action would be to see it clear that level & therefore clear to try & test the 50% level, around $31-32.


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