Technical Summary: The stock of BHP has almost made a full recovery to its highs from 5 years ago. Interestingly this is still below the stocks all time highs from 2011. The stock however appears to be in recovery mode on the back of a recent appreciation in the price of oil. In the one year chart there is a nice trend from the bottom left of the screen to the top right. On its way the stock has provided a couple of logical buying opportunities either from a breakout or from buying a “dip”. At the current juncture the stock appears to be consolidating after becoming overextended. Judging from the current price action this has the potential to develop into a buying opportunity if a solid base can form.