Glencore PLC

uk.advfn.com/p.php?pid=chartscreenshotsh...E%3D&symbol=L%5EGLEN

Stopped out here this morning...
Seems to be bouncing now, but its below the 20 day ema and triangle support line....
So the chart says it should move down... not going to chase this anymore...
see where it is in a few days...

Regards,
Trendfreind.

uk.advfn.com/p.php?pid=chartscreenshotsh...4%3D&symbol=L%5EGENL

This just about held on the traingle formation, the support trendline on the triangle is also where the 20 day ema is atm...
So held above both, i think this bullish... so i'm long... although it's pretty much against the trend atm..
My stop below the triangle and 20 day @ 111p

Regards,
Trendfriend.

This chart is really intersting imho...
A few things in play here...

This is in this triangle formation atm, which is coming to the end...
Break up, bullish, down bearish..
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Could also be a inverted head and shoulders developing...a breakout is a strong reversal signal imho..
uk.advfn.com/p.php?pid=chartscreenshotsh...0%3D&symbol=L%5EGENL

The neckline's in the low 150's so some way to go for a breakout imho..


This needs to hold the 20 day moving average to be bullish imho.... below this will some lower targets in play...

Regards,
Trendfriend.

This looks like forming a 123 low formation??, early entry could be done at a close above 116 but would have to use tight stops.Main entry comes in at a close above 140.
Im looking to go long if the gap fills at 95 with tight stops.This is only for a first attempt only.
so 2 possible areas to watch.


dl.dropboxusercontent.com/u/4899609/glen22ndoct2015.png

Thanks for the chart TF, and yes you are quite right, amazing how it bounces when rsi hits 20.

Seems like a guaranteed banker next time it gets close to it.

I was fortunate to by at 67 when it got to that level, but sold out way to early, only to get back in again at 112p and again sell out too early.

Just getting to back to trading, after a year or so out..

Well a profit is profit.

uk.advfn.com/p.php?pid=chartscreenshotsh...MlGkVAJvPchf%2F1k%3D
Taking a closer at Glen again today.. since i have done this chart this has moved below the important 20 day moving average.. and that's not good lets see how it closes..

What i was looking for on the chart today is which technical's in the past this really respects ...
It likes the moving averages, both ways, get above we get a move higher, get below, this gets dumped lower.
However look at the RSI on the chart.. look how many time sine Jan 15 this has hit the 20 Level on the RSI..
(shown by the arrows on the chart) i make it 6 times since Jan!! and when it does that we get a bounce from the the share price...
Chances are it will be 7 in due course...
By the time the RSI makes its way to 20 (still above 40 atm)... its very possible we could get a new low here...or at least a significant down move imho....

this could of course bounce before hand, but the outlook looks bearish to me imho... and certainly no buy signals i can see atm..
so its risky to take a position especially with the volatility and big gap downs, like we saw with Genel today for example...
I'm gonna be patient here and wait for that RSI...
After all trading is nothing more than a transfer of wealth from the impatient to the patient
Regards,
Trendfriend.