Will Glencore break support, or will it rise again to 341p?

• Rising support since Christmas;
• 3 bounces and breakout to trade 303p (at time of writing).
• Will the pattern repeat, the shares climbing back towards 341p?
• Shares -26.8% from 2018 highs; +13.8% from 2018 lows; +4.4% year-to-date.
• 1 Feb: Glencore ramps up core Copper and Zinc Output
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Glencore – An Example

Let’s say you like the Glencore chart and you think the price is heading back towards 341p again. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 303p. To do this, you need £2,000.

Let’s assume Glencore rises back to 341p (+12.5%). Your profit would be £1250, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Glencore falls 5% and hits your stop-loss. Your loss would be £500.

This is provided for information purposes only. It should not be taken as a recommendation.