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GLENCORE PLC

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GLN trade ideas

#GLEN comment: H&S formation is intact, fall pressure increases#GLEN topped in the beginning of this year but since then the price rally lost its power though the company announced better results compared to the previous year. Technically, the share builds a H&S formation, which has a neckline around 339. If this level is passed down then there may be further fall, which can be interpreted as a correction (ABC) formation. This is not financial advice!!! Do not make financial decisions based on this analysis.
LSE:GLENShort
by The_Quantastic
GLEN: Glencore is in a strong uptrendI'm long $GLCNF/$GLEN here. I like the outlook for Cobalt, as the EV race intensifies. Supply of this metal is constrained, and as demand surges, prices will follow, intensely. With some luck, I'm correctly calling the bottom of this pullback, which gives us a low risk to join this trend. I'm already positioned from lower levels in $VALE, and also in $BHP, and $GLEN was the missing piece for my portfolio that gravitates around this and other themes currently. Best of luck if joining me here, Cheers. Ivan Labrie.
LSE:GLENLong
by IvanLabrie
4
Glencore looks set to leave a lower top formationThe bearish divergence as is shown by the falling channel on the RSI, coupled with the fact that 50-DMA has topped out suggests the stock is more likely to leave a lower top formation followed by a bearish break from the sideways channel floor seen at 308.30. Such a move would open up downside towards 277 levels (target as per the measured height method). On the higher side, only a daily close above the 50-DMA would revive bullishness.
LSE:GLEN
by TipTVFinance