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Technical Trade Note Glencore PLC [JSE:GLN] 15 May 2018

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Barry Dumas
Glencore-Technical-Trade-note

Technical trade note Glencore PLC (GLN) (15/05/2018)

Glencore PLC (GLN) is setting up for a buy if we can get a close above 6492c per share. The technical setup looks great and we can see an inverse head and shoulders pattern forming which is signalling a reverse in the price to the upside.

Full trade summary and chart below:

Trade: Glencore PLC (GLN)

  • Entry (Buy): Close above 6542c
  • Stop loss: 6076c
  • Target price: 7025c

Screen Shot 2018-05-15 at 15.35.05

 Source: Bloomberg

 

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