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 appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
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.
Comment:
Price is Below the Purple 1 Month VWAP & Cyan 100D EMA.
Comment:
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.
I hope this reverses the Down Trend and therefor invalidates the projection.
Comment:
Nice Invalidation and recovery.