BUY SETUPWe have a triangle pattern in development and I expect a breakout to upside as continuation move.
Target 311 is confluence of weekly resistance and price action pattern.
GLEN trade ideas
Glencore – 186.15 is a strong supportGlencore’s brief dip below hourly rising trend line followed by a quick recovery above 186.15 (38.2% of 379.40-66.70) has kept the doors open for a re-test of 190 levels.
The hourly indicators- MACD and RSI have turned sideways, leaving little room for a guess work. However, on the daily time frame RSI is losing height from the overbought territory, while MACD has turned bearish.
Thus, the odds of a corrective move to 180.00 are high. A violation there could yield drop to 170.00.
On the higher side, a day end closing above 192.00 would open doors for 200+ levels.
go up due to recent commodity going up, will it ends here?go up due to recent commodity going up, will it ends here?
Glencore Gap HoppingOn a dip to fill gap sub 90 TP1 gap above 150
- Seeding pattern on weekly (green dashes)
- Bear trend line break with confirmation of wkly seed pattern
Glencore: Target 0Glencore 2021 bond just below Aug lows!!! GLN CDS skyrocketing. IG rating not justifiable any more. Either delisting from markets or default.
GLNCF Glencore PLC - Daily - Sell Short Here - Max Resistance Rally back to high volume resistance at 2.05.
Also, 2.05 is the price level with the most TIME as well and is nearly a 100% rally from the low at the end of September.
The CCI(11) is overbought, of course, since it just rallied 9 days from 1.07 to 2.076, a full 1.00 move.
Risk 10% to 2.25
Target -20% to -25% to 1.60-1.50
Tim
10/9/2015 10:15AM EST
