#FTSE #Nasdaq We previously reviewed Glencore back in January, suggesting the day the share price closed above the 571p level would justify drooling for the sharer price future. May has been interesting, the share price finally closing above our target level and better still, attaining a series of “higher highs”. This tends imply Glencore has a cunning plan with, perhaps, a new future about to unwind through a puddle of traders drool! But first, we need tell you about a Black Cat.
The dog introduced a new bark to her repertoire, justifying looking out to the garden in an attempt to discover whatever new bird had invaded the lawn. Instead, there was a cat, sitting in a perfect cat posture, up at our log cutting area. Calling my wife to come look, she said “That is really big, don’t let Penny (the dog) out.”. The dog was happy to bark, showing no ambition to run into the garden, and the cat stood up, stretched itself, then walked away. Later, when along at the beach for our evening walk, I bumped into a local shepherd and told him about the massive cat, the size (roughly) of a one year old Labrador. Apparently the animal is something of a local celebrity, even blamed for killing the occasional lamb at this time of year. He wanted the sighting reported to a farmer who’s made it his mission to stuff the extremely big cat. To expand, we’re used to oddball animals but this thing was different, roughly twice the size of a typical wildcat (another garden visitor) and capable of leaving a Maine Coon in the shade of a fur ball. My wife did take a snapshot of the cat, discovering her mobile phone was unable to capture an image of something 50 metres away without spending time setting up the shot.
Perhaps the cat is the reason our usual gang of deer are choosing to avoid destroying everything in the garden.
As for Glencore, traders are probably drooling like the cat over a free meal, their share price looking exceedingly attractive at present. We’re devotees of the “higher high” method for picking sure things (no such thing) and Glencore certainly ticks quite a few boxes for optimism. The share price shall doubtless relax again toward the 571p level, so perhaps it’s worth watching on the basis the company shall indeed dig themselves further higher highs. The price would need close below 571p before we’d lose optimism for the longer term.
Currently, above 615p looks capable of triggering further share price growth to an initial 649p with our secondary, if exceeded, now at a longer term 795p and perhaps beyond. Whether its the price of Gold, Silver, or Copper, things certainly seem to be heading in Glencore’s favour at present. All they need do is announce an AI has replaced their board of directors and the share price shall doubtless go utterly mad. After all, everyone involved with the stock market truly believes anything which involves AI is the way forward… Okay, we’re cynical, knowing it’s an AI bubble but completely uncomfortable in pointing out where it will burst. Nvidia should obviously be the lead indicator but equally, it could be a minnow which presages any collapse.
If Glencore intend any drama, below 542 risks triggering reversal to an initial 476p with our longer term secondary, if broken, an eventual “bottom” ideally just above 390p.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:25:01PM | BRENT | 9527.9 | |||||||||
| 11:28:04PM | GOLD | 4488 | |||||||||
| 11:29:33PM | FTSE | 10380.5 | 10285 | 10231 | 10112 | 10370 | 10588 | 10707 | 10826 | 10432 | |
| 11:38:26PM | STOX50 | 6098 | ‘cess | ||||||||
| 11:45:24PM | GERMANY | 25108.6 | |||||||||
| 11:49:01PM | US500 | 7614.7 | Success | ||||||||
| 11:52:11PM | DOW | 51327.3 | |||||||||
| 11:55:25PM | NASDAQ | 30665.5 | 30446 | 30353 | 30236 | 30535 | 30712 | 30795 | 30972 | 30547 | Success |
| 11:58:11PM | JAPAN | 67384 | 66700 | 66319 | 65892 | 66940 | 67600 | 67973 | 68782 | 67290 | ‘cess |
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AAL Anglo American** **LSE:EMG MAN** **LSE:GLEN Glencore Xstra** **LSE:IQE IQE** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:STAN Standard Chartered** **LSE:TERN Tern Plc** **
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Updated charts published on : Anglo American, MAN, Glencore Xstra, IQE, Scottish Mortgage Investment Trust, Standard Chartered, Tern Plc,
LSE:AAL Anglo American. Close Mid-Price: 4225 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. Further movement against Anglo American ABOVE 4239 should imp ……..
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View Previous Anglo American & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 292 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Further movement against MAN ABOVE 292.8 should improve acceleration towa ……..
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View Previous MAN & Big Picture ***
LSE:GLEN Glencore Xstra. Close Mid-Price: 615 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. All Glencore Xstra needs are mid-price trades ABOVE 615p to i ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 55.9 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Continued trades against IQE with a mid-price ABOVE 60.1p should improve ……..
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View Previous IQE & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 1545 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. All Scottish Mortgage Investment Trust needs are mid-price tr ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 2063 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. All Standard Chartered needs are mid-price trades ABOVE 2072p ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TERN Tern Plc. Close Mid-Price: 1.375 Percentage Change: + 0.00% Day High: 0 Day Low: 0
All Tern Plc needs are mid-price trades ABOVE 1.375 to improve accelerati ……..
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View Previous Tern Plc & Big Picture ***