Short term view - GLENCORE PLC : The resistance has been reached, it causes the fall.
The previous significant trough has been broken. The trend now is neutral. Should prices move back above this level, we would face a false signal.Arguments :
- The major support has been breached.
- The resistance has been reached, it causes the fall.
- Prices are breaking below the moving average.
Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
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