BHP is trading at the same price as it was in January 2021 although it has paid some extremely attractive dividends along the way. Considering the market’s pricing in a recession for 2023 and lower iron ore prices we feel BHP is performing admirably and at least for now, in our opionion, the path of least resistance is back toward the $45 area.
- BHP continues to rotate between $32 and $48, a 30% trading range, our preference is it’s now time for a test on the upside.
MM remains bullish and long BHP
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