Glencore PLC

Thanks for the chart TF, and yes you are quite right, amazing how it bounces when rsi hits 20.

Seems like a guaranteed banker next time it gets close to it.

I was fortunate to by at 67 when it got to that level, but sold out way to early, only to get back in again at 112p and again sell out too early.

Just getting to back to trading, after a year or so out..

Well a profit is profit.

This looks like forming a 123 low formation??, early entry could be done at a close above 116 but would have to use tight stops.Main entry comes in at a close above 140.
Im looking to go long if the gap fills at 95 with tight stops.This is only for a first attempt only.
so 2 possible areas to watch.


dl.dropboxusercontent.com/u/4899609/glen22ndoct2015.png

This chart is really intersting imho...
A few things in play here...

This is in this triangle formation atm, which is coming to the end...
Break up, bullish, down bearish..
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Could also be a inverted head and shoulders developing...a breakout is a strong reversal signal imho..
uk.advfn.com/p.php?pid=chartscreenshotsh...0%3D&symbol=L%5EGENL

The neckline's in the low 150's so some way to go for a breakout imho..


This needs to hold the 20 day moving average to be bullish imho.... below this will some lower targets in play...

Regards,
Trendfriend.

uk.advfn.com/p.php?pid=chartscreenshotsh...4%3D&symbol=L%5EGENL

This just about held on the traingle formation, the support trendline on the triangle is also where the 20 day ema is atm...
So held above both, i think this bullish... so i'm long... although it's pretty much against the trend atm..
My stop below the triangle and 20 day @ 111p

Regards,
Trendfriend.

uk.advfn.com/p.php?pid=chartscreenshotsh...E%3D&symbol=L%5EGLEN

Stopped out here this morning...
Seems to be bouncing now, but its below the 20 day ema and triangle support line....
So the chart says it should move down... not going to chase this anymore...
see where it is in a few days...

Regards,
Trendfreind.

Been watching this on a daily basis bouncing off 107/8 to 112 to 114 over the last week.

Took the plunge last week and bought at 112, a little higher than I would have liked.

Not too sure which way this will go, closed above 20 day ema which was at 114.75

Any ideas?