Glencore PLC

Thank you for all the replies, I am really enjoying glencore, it's been a while, (Xel has been taking all my time and money but decided to sell some and invest in Glen again) you have all been a great help, used to read Paitech and remo in the day on ill.

taking another look Glen...

This needs to hold onto the 20 day moving average at 107.75p (today), to hold onto the gains from this rebound of the lows.
i was thinking it may be a good idea to go long at the 20 day...not so sure now...
if i do go long at the 20 day, it will be with a very tight stop...
a drop below the 20 day, should see 97p gap level, and below that 65p again?!?!

Really this needs to get above the trendline and the 50 day ema, which in itself is acting like a trendline to have a bullish outlook....

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

Regards,
Trendfriend.

TF,

This is from todays III .. hope this helps..
I wanted to buy around 70p, then saw an article saying this could go down to 37p..so didnt buy.
But,I may... if I get a chance... ta G
China is still slowing down..
www.iii.co.uk/articles/272652/chart-week...-glencore-and-others

Thanks Guys,

Heres wishing the gap gets filled... tomorrow would be a good day judging by the trend today.

www.dailymail.co.uk/money/markets/articl...dity-price-drop.html

uk.advfn.com/p.php?pid=chartscreenshotsh...MlGkVAJvPchf%2F1k%3D
Taking a closer at Glen again today.. since i have done this chart this has moved below the important 20 day moving average.. and that's not good lets see how it closes..

What i was looking for on the chart today is which technical's in the past this really respects ...
It likes the moving averages, both ways, get above we get a move higher, get below, this gets dumped lower.
However look at the RSI on the chart.. look how many time sine Jan 15 this has hit the 20 Level on the RSI..
(shown by the arrows on the chart) i make it 6 times since Jan!! and when it does that we get a bounce from the the share price...
Chances are it will be 7 in due course...
By the time the RSI makes its way to 20 (still above 40 atm)... its very possible we could get a new low here...or at least a significant down move imho....

this could of course bounce before hand, but the outlook looks bearish to me imho... and certainly no buy signals i can see atm..
so its risky to take a position especially with the volatility and big gap downs, like we saw with Genel today for example...
I'm gonna be patient here and wait for that RSI...
After all trading is nothing more than a transfer of wealth from the impatient to the patient
Regards,
Trendfriend.