#FTSE #NK225 Swiss company, Glencore Plc, an abbreviation of ‘Global Energy Commodity Resources’ are a pretty core component of the FTSE 100. The company are seriously big, the UK hosting their Oil & Gas head offices and they’re rated as the worlds largest commodity traders. A visit to the company Wikipedia page is highly recommended, their history being utterly fascinating with allegations of corruption almost on a par with the UK’s political classes.
However, given the plethora of fields in which Glencore are active, it’s actually a little surprising how relatively placid the share price has been over the last 10 years. With the company achieving a new all time high in January this year, the share price reaching 584p, we’re curious whether some further good times may be on the horizon, especially as the share price has now broken through its immediate downtrend and appears to be on the edge of challenging its prior highs.
Trading around 498p currently, the immediate situation suggests above 501p should trigger an attempt at 525p next with secondary, if exceeded, at 579p. We suspect this shall prove quite important, once again taking the share price into “all time high” territory where we’re able to calculate the potential of a visit to 693p as a logical Big Picture ambition on this cycle.
If things intend go horribly wrong, the share needs below 422p to trigger panic, entering a reversal cycle which should hopefully complete at 297p. Early warning of trouble shall be the price closing below 480p but for now, we’re inclined toward optimism for Glencore’s future.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:36:07PM | BRENT | 84.6 | |||||||||
| 9:38:16PM | GOLD | 2004.96 | |||||||||
| 9:40:24PM | FTSE | 7919.29 | 7878 | 7862 | 7843 | 7893 | 7920 | 7928 | 7939 | 7906 | |
| 9:42:38PM | STOX50 | 4401.7 | |||||||||
| 9:44:43PM | GERMANY | 15906.94 | Success | ||||||||
| 9:46:49PM | US500 | 4156.87 | ‘cess | ||||||||
| 9:56:03PM | DOW | 33977 | ‘cess | ||||||||
| 9:59:05PM | NASDAQ | 13092 | ‘cess | ||||||||
| 10:01:42PM | JAPAN | 28650 | 28557 | 28516 | 28440 | 28649 | 28744 | 28786 | 29244 | 28560 | Success |
18/04/2023 FTSE Closed at 7909 points. Change of 0.38%. Total value traded through LSE was: £ 4,621,350,278 a change of -3.08%
17/04/2023 FTSE Closed at 7879 points. Change of 0.1%. Total value traded through LSE was: £ 4,768,055,555 a change of -13.28%
14/04/2023 FTSE Closed at 7871 points. Change of 0.36%. Total value traded through LSE was: £ 5,498,351,712 a change of 11.26%
13/04/2023 FTSE Closed at 7843 points. Change of 0.24%. Total value traded through LSE was: £ 4,941,877,578 a change of -0.83%
12/04/2023 FTSE Closed at 7824 points. Change of 0.5%. Total value traded through LSE was: £ 4,983,460,119 a change of -24.23%
11/04/2023 FTSE Closed at 7785 points. Change of -100%. Total value traded through LSE was: £ 6,576,655,503 a change of 0%
6/04/2023 FTSE Closed at 7741 points. Change of 0%. Total value traded through LSE was: £ 4,283,125,901 a change of 0%
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:AFC AFC Energy** **LSE:AZN Astrazeneca** **LSE:BDEV Barrett Devs** **LSE:EZJ EasyJet** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:IDS International Distribution** **LSE:ODX Omega Diags** **LSE:TERN Tern Plc** **
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Updated charts published on : AFC Energy, Astrazeneca, Barrett Devs, EasyJet, Glencore Xstra, British Airways, International Distribution, Omega Diags, Tern Plc,
LSE:AFC AFC Energy Close Mid-Price: 19.4 Percentage Change: -3.00% Day High: 20 Day Low: 18.04
If AFC Energy experiences continued weakness below 18.04, it will invaria ……..
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View Previous AFC Energy & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 12040 Percentage Change: + 1.83% Day High: 12390 Day Low: 11860
Target met. In the event of Astrazeneca enjoying further trades beyond 12 ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BDEV Barrett Devs. Close Mid-Price: 489.1 Percentage Change: + 0.35% Day High: 490.1 Day Low: 484.4
All Barrett Devs needs are mid-price trades ABOVE 490.1 to improve accele ……..
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View Previous Barrett Devs & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 519.2 Percentage Change: + 1.60% Day High: 532.6 Day Low: 515
Continued trades against EZJ with a mid-price ABOVE 532.6 should improve ……..
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View Previous EasyJet & Big Picture ***
LSE:GLEN Glencore Xstra. Close Mid-Price: 498 Percentage Change: + 1.84% Day High: 501 Day Low: 490.6
All Glencore Xstra needs are mid-price trades ABOVE 501 to improve accele ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 150.4 Percentage Change: + 0.07% Day High: 154.5 Day Low: 150.15
Target met. Continued trades against IAG with a mid-price ABOVE 155 shoul ……..
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View Previous British Airways & Big Picture ***
LSE:IDS International Distribution. Close Mid-Price: 251.4 Percentage Change: + 1.86% Day High: 251.7 Day Low: 246.4
Further movement against International Distribution ABOVE 251.7 should im ……..
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View Previous International Distribution & Big Picture ***
LSE:ODX Omega Diags Close Mid-Price: 2.5 Percentage Change: -7.41% Day High: 2.7 Day Low: 2.45
Weakness on Omega Diags below 2.45 will invariably lead to 2.28p with sec ……..
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View Previous Omega Diags & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 5.75 Percentage Change: -11.54% Day High: 6.5 Day Low: 5.5
In the event Tern Plc experiences weakness below 5.5 it calculates with a ……..
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View Previous Tern Plc & Big Picture ***