Glencore, one of the world's largest global diversified natural resource companies, manages over 150 mining, metallurgical, oil production, and agricultural facilities across more than 50 countries. The company's extensive global presence and diverse commodity portfolio make it less volatile compared to more specialized mining houses. Since the commodity cycle...
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.
If you...
This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & UMVD Indicators.
* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply &...
See link below for previous analysis.
After prolonged sideways movement, price broke below 9230 invalidating the triangle outlook.
This has prompted me to label the advance from 7920 to 12433 as wave (5).
A look at the bigger picture fits an impulse as the five wave advance from 2254 to 12433 for wave .
I am looking at the current pullback as wave and...
The stock is finding support around the R97-99 zone with at RSI which has turned up off oversold territory.
We could possibly have a leg up initially to the 200dma then the top of range at R110.
I'm happy to hold long while R95 holds on any daily close.
Glencore is in the timing for a daily cycle low, price action has carved out a symmetrical triangle that can break either way. Our guide is the previous cycle low with a price of R99.03, anytime we go below this price we know the trend has turned bearish. We also see the megaphone pattern going back to the COVID low. The support of the megaphone needs a third...
W Formation and Rectangle formation has formed since May 2023...
Now, we are definitely getting signs of upside, more than downside.
That's because the resources sector and precious metals sector is showing positive signs.
As we welcome 2024, investors will be using their bonuses and will be reinvesting in the new year which will lead to the January Effect....
Medium term view. Buy at current levels or lower. The persistent print against the overhead resistance as well as Friday's candle structure may be indicative of the potential for the share to breach it's downward trend and potentially trade higher over the medium term. The strong move higher in Copper Futures may also be supportive of the buy/long view. Some...
Glencore (GLN) describes itself as, "...one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities". The group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities. With a strong footprint in both established and emerging...
The last update on Glencore was on 03.05.2023. link below.
The stock has continued its sideways consolidation, trading in a range between 11326 and 9903.
At this stage it is difficult to conclude that wave E of (4) is complete at 9903 as wave E can still trade lower but should terminate at or above 9230.
There is no clarity on this stock so I will continue to...
As with our alert on JSE:BHG , JSE:GLN has broken out of a consolidation area. If it continues to trade higher, we will be triggered into a long position.
Glencore showing a potential W Formation.
We need the price to break above the neckline before we get further traction up.
Other indicators show strong upside to come including...
7>21 - Bullish
price >200 - Bullish
RSI>50 HIgher lows.
Target 1 for the resource company is at R136.20
ABOUT THE COMPANY
Founding: Glencore was founded in 1974 by Marc Rich, a...
Glencore price has oscillated between the blue support & upper pink resistance. On daily chart price has lost the 200DMA, per cycles it is seeking a half cycle low, a bullish move from here can bring bulls buying but the expectation is price will not breach the downward slopping resistance before turning down again. This time the blue support would not hold...
The last coverage of Glencore was on 30 September 2022, link below.
Price has continued to move generally sideways though a new peak was made at 12433.
My preferred count hinges on the interpretation of the move from 7920 to 12433 which i view as a corrective move and not a motive move.
This interpretation means that the sideways price action from 10594 is a...
Many people like to predict breakouts.
If there is one thing you learn today it's this.
Always WAIT for a strong and confirmed breakout.
There is a reason why the price hasn't breached the neckline (resistance). And that's because the fight is still on between the bulls and the bears.
Now that Glencore has broken down not only has it slanted the Cup and...
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Pre-Market Trading Plan. If you're a short term/active trader, this is how you could approach Glencore. The share has had a strong move off the lows of 9230c (16 March), testing a high of 11113c during...
JSE:GLN took a deep dive slicing through what was a potential support level. The market is showing all kinds of weakness, it's prudent to stick to sound risk and money management. For some, it may be an opportunity to pick "cheap" companies. Whatever you do, know that it can get worse.
GLN has pulled back nicely from recent highs (around 124). Currently on blue TL support (just above 100). Would like to see a bounce from here with a stop loss on a close below 95.
