South 32: Long Term Trend Analysis

Lester Davids
Oct 31
2 min read

Research Notes October 2025 > https://www.unum.capital/post/roct2025

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South32 has completed a deep, multi-year structural decline and is currently in a powerful Long-Term Recovery. Current Price: 3588c.

Comprehensive Summary

South32's monthly chart confirms a pronounced recovery that is supported by STRONG and positive momentum, indicating robust institutional buying. The current rally is aggressively testing the key pivot zone that acted as strong support from 2018–2020. The immediate bullish momentum is structurally sound and the objective is to clear the major overhead ceiling to confirm the next multi-year expansion phase.

Multi-Timeframe Momentum Analysis

Momentum is highly compressed and bullish, reflecting the strength of the recovery: the Ultra Short-Term momentum (84.69) is at the upper band of the STRONG tier and sloping upwards, indicating aggressive buying conviction is driving the current price, and is approaching the Overbought threshold (85). The Short-Term momentum (70.33) is also firmly in the STRONG tier and sloping upwards, confirming solid, multi-month buying pressure. Mid-Term and Base Term momentum are both in the NEUTRAL tier but are sloping upwards, reinforcing that the primary long-term trend remains structurally sound and recovering.

Key Actionable Zones

The immediate upside target is the Short-Term Resistance zone of 4000c - 4200c (the 2023 high). The crucial low-risk buying opportunity is the Mid-Term Support/Pivot (3000c - 2800c), which must hold to maintain the recovery structure. The major Long-Term Breakout required to confirm a new bull market is a sustained monthly close above 5300c.