#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)...
CHXEUR:GLENL is showing a possible inverted H&S in D1 time-frame, that could be in line with Monthly trend continuation on the long please let me know your comments.............
I'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...
Potential area of reversal for Glencore. With expectations of low inflation, high leverage so exposed to interest rates and an reversal pattern in the making, this may be worth the shot short.
The daily chart shows a textbook topping pattern… here is the sequence – Bearish RSI divergence Breach of the rising trend line followed by sideways action Bearish breakdown of sideways channel & Now a falling channel Looks like the share price is set to take out support at 292 and test the falling channel floor around 282 levels.
The 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...
Looking like long term trend line resistance eroded but looking to sell corrective pull back.
Glencore’s brief dip below hourly rising trend line followed by a quick recovery above 186.15 (38.2% of 379.40-66.70) has kept the doors open for a re-test of 190 levels. The hourly indicators- MACD and RSI have turned sideways, leaving little room for a guess work. However, on the daily time frame RSI is losing height from the overbought territory, while MACD...
Hi Everyone, hope you are all doing well. Glencore (GLEN) appears to be in a corrective structure so we are waiting for the sell setup. Stay tuned for updates as the trade become active.
On a dip to fill gap sub 90 TP1 gap above 150 - Seeding pattern on weekly (green dashes) - Bear trend line break with confirmation of wkly seed pattern