Short term view - GLENCORE PLC : The moving average is capping prices.
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 62% retracement has been passed.
- The moving average is capping prices.
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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