Glencore PLC

Thanks F4T.

Probably going against technicals... but gone long as gap has slowly been filled

Not convinced whether this will bounce well.. hey ho lets see how it goes.

yep gap has mostly been filled....

watch ftse, drop below 6250, and i think 6000 very quickly imho...
If going long here, keep stops tight....95 or 95.5p not below imho...

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

Regards
Trendfriend.

Seems like a lot of dumping going on here so have closed my long..

sp96.38

I bought a few at 98.8 chief and sold them for 97.6 not long thereafter. Just doesn't seem to be much of an appetite for it. TF's 95.5 stop as per his post below already hit…..

agree..

not sure why? being hit more than others and especially on the back of solid consolidation in the last few weeks.

My earlier buy was purely TA-based (well; as per my limited knowledge of TA!) thinking it would bounce off the gap. But then I watched the none-bounce and wondered non-TA-wise if the global commodities slowdown allied with $45 brent AND worries that there could soon be little or no meaningful equity left in GLEN owing to its debt burden weren't making it just too risky to hold in the short term.
It just tried a bounce off the 93s it hit on coming out of auction but even this doesn't look to have much legs. Maybe the gap is now more overhead resistance than support!