Glencore PLC

Spot on!

Hi F4T, you could well be right.....and a surprise rally here, but i think in this market it's safety first. I just want to see more strength before i would be convinced....maybe it's just me
(These charts are from mid day yesterday)
The weekly seems to show failure at the 20 day ema.


The daily shows it failed (so far anyway) at two trendlines.


Could this be range bound for now?

Until we do get a higher high, maybe short into strength is still the right trade, but wdik..

Regards,
Trendfriend.

Haven't posted for a long time but have been successfully trading this in that period. It is interesting from a technical perspective, hence this post:




We had a nice inv H&S, the head being a higher low, so I was waiting for the left shoulder to develop (& RSI backtest), which it did nicely.
I have added some upper targets as follows, but expect a retrace first. At minimun a backtest of the neckline:

- inv H&S target of 114.50
- Elliot wave max target of 121
- 61.8% fib is conservative

As to the retrace:
1. backtest of neckline at 91 ish
2. gap close at 86
3. 50% retrace (from 106.60) at 88, which is nicely between the two

Weekly highlights recent divergences.





Should be some nice volatility this week with their production report on Thursday and annual results on 1st March.

F4T

Looks like a one day wonder to me tbh.
That's a short term trendline, needs to close above this and the 20 day(around 91/91.5p area) for push to 50 day sma.
close below, and back to the lows imho..... all miners and oilies look under pressure atm...but what do i know!
ATB...Regards,
trendfriend.

Is this now in an uptrend move?

Anybody watching this.

Bought back in yesterday....not too sure to exit or see if it breaks 99p resistance.