ASX: BHP GROUP LIMITED - BHP Elliott Wave Technical Analysis TradingLounge

Greetings! Today's Elliott Wave analysis provides an updated view of the Australian Stock Exchange (ASX) for BHP GROUP LIMITED - BHP. The analysis indicates that ASX: BHP has completed wave ((ii))-navy, and wave ((iii))-navy appears to be unfolding with potential for further upward momentum.

ASX: BHP GROUP LIMITED - BHP 1D Chart (Semilog Scale) Analysis

Function: Major Trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iii))-navy of Wave 3-grey

• Details:

  • Wave ((ii))-navy likely concluded as a Zigzag labeled (a)(b)(c)-orange at 39.61.
  • Wave ((iii))-navy is now trending higher, with targets around 50.00.

• Invalidation point: 39.61

ASX: BHP GROUP LIMITED - BHP 4-Hour Chart Analysis

Function: Major Trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ii-grey of Wave ((iii))-orange

• Details:

  • Since the 39.61 low, a diagonal structure has completed as wave i-grey.
  • Wave ii-grey might dip slightly lower before wave iii-grey resumes its upward trajectory.

• Invalidation point: 39.61

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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Conclusion

Our analysis and forecast provide a comprehensive view of ASX: BHP GROUP LIMITED - BHP. We aim to highlight key market trends and actionable insights, helping readers navigate current opportunities effectively. Specific price points are identified as validation or invalidation signals for the wave count, increasing the reliability of our perspective. By integrating technical accuracy and market context, we deliver a professional and objective outlook for ASX: BHP.