BHP Billiton - BLT

Hi Remo,

When is it worth going short?

The best place to go short on this would be at the next major resistance. Thats around 1203.
But there are are resistance levels before this.This would be short term trades thou as it seems the trend has changed.
Ill post charts latter as got to pop out

resistance: 1034...1103(38.2fib)...1131,,,1203,,,1269(50%fib),,,1432(61.8fib)

The best place to take profits is the resistance levels and particularly the fib levels.You can see clearly how the 23.6 fib level held the initial rise perfectly(look at chart).These resistance levels are the places to short a stock but you have to monitor them closely as going against the trend can be risky.


dl.dropboxusercontent.com/u/4899609/blt28thapril2016.png

Im still long on bhp from the other day and its a free trade for me now.

News of a $43 billion lawsuit against BHP Billiton drags on the mining sector. Looks like a good short opportunity

Gone long on this at £9.32p

Interesting chart here, bottom of a channel, gapped down, broken 200 day moving average and near lots of strong support lines, one to watch.