GLENCORE PLCShort
GLN.JSE Glencore Diversified Miner 1W FIB Study.
Updated
Glencore - a Diversified Miner has recently broken to the downside of the Trading Range.
This is expected due to the weakness in the overall Commodity Market Cycle.
Using the Fibonacci Levels from High to Low, I see a possible retracement to the 50% Level.
As always, please get a few outside Expert's Advice before taking Trade or Investment decisions.
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Regards Graham.
This is expected due to the weakness in the overall Commodity Market Cycle.
Using the Fibonacci Levels from High to Low, I see a possible retracement to the 50% Level.
As always, please get a few outside Expert's Advice before taking Trade or Investment decisions.
If you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
Note
Price is Below the Purple 1 Month VWAP & Cyan 100D EMA.Note
The recent surge in the Copper Price seems to have boosted Glencore's Profitability.I hope this reverses the Down Trend and therefor invalidates the projection.
Note
Nice Invalidation and recovery.Trade active
Please Note the date of this Idea, as it is old.
The stock did trade up to +-R115 where I sold.
However I am keeping an eye on this one to look for a new entry point.
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