Will Glencore turn, or will it continue to rise towards 341p?

• Breakout above 319p; Now trading 321p (at time of writing).
• Could they recover to prior highs of 341p?
• Shares -1.2% from 2019 highs; +19.8% from 2019 lows; +10.4% year-to-date
• Miners benefiting from dovish Fed update pushed USD lower to boost commodities
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Glencore – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 341p. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 321p. To do this, you need £2,000.

Let’s assume the Glencore trend continues to highs of 341p (+6.2%). Your profit would be £620, 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 breaks lower, falling 3% and it hits your stop-loss. Your loss would be £300.

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