Will Glencore break support, or will it rise again to 343p?

• Shallow rising support since mid-march
• Bounced 4 times to trade 313p (at time of writing)
• Will the pattern repeat itself, rising back to recent highs of 343p?
• Shares -8.7% from 2019 highs; +16.8% from 2019 lows; +7.6% year-to-date.
• 29 Apr: Mining shares positive after rebound in China Industrial Profits growth
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Glencore – An Example

Let’s say you like the Glencore range, you think it’s heading back up to 343p again. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 313p. To do this, you need £2,000.

Let’s assume Glencore rises back to April highs of 343p (+9.5%). Your profit would be £950, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Glencore falls 3% and hits your stop-loss. Your loss would be £300.

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