0IVW trade ideas
Cobalt - Long; There is no such thing as a "cobalt mine"Cobalt occurs as a metal mining byproduct - mainly copper, zinc, etc. -, 80% of the world production is centered in the Democratic Republic of the Congo - which is neither democratic nor a republic, or a state. (It's claim to fame is perpetual genocides, an endless civil war, accompanied with abject poverty.)
70% of cobalt refining capacity accompanied with worldwide cobalt mining interests is held by China. In short, the DRC has the cobalt and China owns the DRC.
The market recently became awash with the metal and prices promptly collapsed to multi-year lows. However, ...
... what about the "EV revolution"? ... (Which, I contend, is pure fiction on the scale as it is being imagined or rather, fantasized. But that's a longer story.)
The fundamental factors - i.e. the physics/chemistry - remain the same;
Lithium, the main component in almost every kind of electricity storage apparatus - i.e. batteries - is one of the least energy dense metal in the periodic table of elements. (Look at it's electron configuration and it will be immediately clear.) A pure lithium battery would be as effective as pissing into the wind. I.e. Lithium must be alloyed with something, most commonly with cobalt.
Long story short, there are two (2) potential plays here;
1) Glencore (OTC:GLNCY) - Long; The main chart; Watch for that Double-top at $14, though!
2) China Molybdenum (OTC:CMCLF) - Long; Should one trust the Chinese? ... (Might care to factor that in!)
GLN - Short looking goodThe bearish engulfing on JSE:GLN seems to be playing out quite well so far. Along with that, the stochastic and MACD have both turned downwards, so once the EMA's cross in a downward direction, the momentum strategy will also be triggering and alert on this one.
GLENCORE PLC ORD GLEN/USD HIGH PRECISION TRADINGLONG GLEN/USD 1 day Shopping ✅
Entry Point: USD 510.0
Target : USD 640.0
Stall Brake : USD 498.0
Speculation is extremely risky and must be executed with money that we are willing to lose or touch the stop loss.
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Trading is the only trade in which the only one responsible for our actions is oneself, our worst enemy is oneself, here there is no one to blame, this is not a collective work, the only one who presses the sell button buy and knows how much to invest and where to stop losses is you, and only you, so always remember that.
Important note: THE LEVEL OF LEVERAGE, the alert for taking early profits, the adjustment of the stop loss and the closing of forced operations are not made by this means.
And also always remember to have control over your losses, focus on this and you will lose.
Comment: WARNING!!!!
I AM NOT A FUTURIST, I DO NOT MAKE PREDICTIONS.
I AM A 100% MARKET OPERATOR, I WORK BASED ON MY EXPERIENCE, CONSISTENCY AND MY TRADING PLANNING.
GLENCORE SHARE will be dumped Glancore shares are going to be dumped by investors. Technical indicators of a brutal massive sell-off of Glencore share price. Glencore activities are criminal
TAKE PROFIT Reached Glencore - R120.00 TAKE PROFIT REACHED after two months of holding this trade - Glencore.
There was a super Diamond Formation that told us it was heading to a target of R120.00
It touched beautifully today after the long hold and seems to show more upside to come.
I'm out of this trade for now..
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We show both winners and losers as I've been in the markets since 2003 and it all comes with the territory.
GlencoreJSE:GLN recently broke above R103, following retest of the breakout level, JSE:GLN has broke above a new high. Bullish.
GLN C&H Trade Pattern Continuation BreakoutGLN After a Consolidation Faze
Glencore has broken out and Cup & Handle Trade Pattern Continues
GLENCORE ShortA potential short position has triggered on JSE:GLN based off our 3 momentum indicators, the stochastic, the MACD and the crossing of the two EMA's.
If triggered our target will be down at the R82 level. This coincides nicely with a strong support level from earlier this year and late last year.
Glencore broken outGlencore has broken out from an ascending triangle. 50DMA trading well above the 200DMA and both moving averages turning upwards showing nice underlying strength in the share. Stop loss below horizontal breakout.
Glencore breakoutJSE:GLN trading volume has increased since the lat JSE:GLN chart we shared. A breakout with volume, perfect.
Glencore new ATH?JSE:GLN is attempting to print a new all time high. The stock previously flirted with R106/share but never traded above this level. A close above R106 will be interesting.
Glencore buying the hedgeCHALLENGE TRADE IDEA:
MARKET: Glencore (GLN)
TAKE PROFIT: R120.00
REASON: Bullish Diamond formation with rising lows on RSI.
What are your thoughts?
Glencore Diamond Diamond formation
Higher probability for upside
Target R120.00
Concerns:
If price breaks below the Diamond, it will crash hard to R76.
But right now the signs are pointing up.
$JSEGLN - Glencore - Sideways Consolidation A Triangle?Glencore has had a sterling run from the March 2020 bottom at R22,54.
The bull run ran out of steam at R105,94 and is currently trading in a sideways consolidation.
From an Elliott Wave perspective, sideways consolidations are normally triangles, especially in a fourth wave position after a strong third wave.
The key level to watch is R79,20 and a break below this level will invalidate the triangle outlook.
Glencore is basically flat in USD this year!Check out the price of Glencore in USD. It's basically flat. How come? Their business is in USD and their business is booming. Trading will keep doing incredibly well, Coal is on fire (check out Whitehaven a pure play in OZ). It trades sub 5x EBITDA, yield close to 5%, and could be debt free in 12 months... No brainer buy in my mind.
GldncoreGlencore reached our previous target and passed it, currently back tracking I think Glencore next support is @R68/R65. Where the bulls might take charge.
Glencore JSE:GLN may be pulling back to the R80 area of value. For holders, it'll. be good if it can find support there. Otherwise it could be the beginning of its declining phase, that will be bad for holders.
Glencore Short Weekly ChartGlencore put in a double top back in March and April and since price has fallen 28%. Looking at Fib levels on the weekly chart price has now retraced 50% and has put in a hanging man candlestick on the weekly chart. The RSI is also dropping along with volume - making a short set up lucrative for the coming days/week.
Couple this with the fact that the UK 100 has had a great run recently coming off the lows with a consistent move higher. We are now however approaching all time high resistance where the market has U-Turned five times already this year. Indicating that we are in for a U-Turn back to the 200-period average. This impending reversal of the overall UK market will give strength to short positions in this market in the coming weeks. Of course, we don’t know for sure that it will reverse it could break out to new all-time highs but probabilities are in our favour. I do however foresee a bullish run for another week until price has retraced 100%.
Glencore downward moveJSE:GLN sins are finally catching up with the share price in the JSE, after admission of guilt in US & Europe. The stock was weak last week, it's trading below key MAs. I expect JSE:GLN to continue to push lower, resources stocks are weak, there's enough downward momentum in the sector, that can help JSE:GLN to break the horizontal support.
Glencore Short IdeaGlencore has held up well and been a decent performer over the recent bear market. However the chart looks like this trend could be about to reverse. Double top here on the daily with a potential head and shoulders pattern forming. Decent R:R ratio.
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Glencore ShortJSE:GLN is showing downward momentum with the stochastic, MACD and EMA's all crossing in a downward direction. The price gapped down this morning which kicked us into a short position.
