A nice break by Glencore around the 3940 levels could see this one extend to the 4600 levels
Lots of mining stocks have been on a decent run since March and many had a good move yesterday. This count suggests that they may be approaching an interim top.
Market Sentiment Bullish, Overall target 4278 price area, I am expecting for the market to move up in a diagonal sequence. Find resistance at current area and retest support at 3635, then advance to 4278.
Expecting resistance at 3930 to force market to retest support at 3635, buy and target take profit @ 4270.
Fractal ready, impulse + three wave correction. On a minor frame we have also a bullish structure, that may represent a unique long opportunity
Have a great day
Glencore stock price potentially could re-test its previous support level, with recent price creating a higher-high. IF bullish sentiments still remain the same on the re-test, then a buy opportunity may likely occur below 128 N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Previous idea developing... long opportunities could be on the table, soon...
When I look at long-term charts for stocks, I'm often looking for is the ability to double my money, sell half and recycle my capital in something else which will work hard to grow. Key levels above. Definitely worth tracking over the next few weeks.
A smaller redistribution trading range, after the larger distribution trading range (see posts below), has formed. After an upthrust (UT) and last point of supply (LPSY) the markdown is set to continue.
The blue zone was defended on the weekly since 17 December and the bulls seem to want to take this stock higher. Il take this trade and target the monthly tenkan zone (yellow zone) Entry: 4455 SL: 4320 TP: 4793 Risl management is critical
Glencore more likely to have found an intermediate bottom. A re-test of a support at 230 may likely take the stock price upward... N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Glencore stock is still being distributed by large interests and there is no sign of a recovery. After a redistribution range price is ready to take the next step down.