Trading idea for Glencore PLC (LSE)

Glencore PLC (LSE)

#GLEN

The trend is upward. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversold conditions. The stock is trading between the 365 EMA and the 135 EMA.

Trading idea:

Buy upon the formation of an upward pattern where wave (A) breaks the trendline of the truncated downward pattern.

Place the stop-loss below the local low of the truncated downward pattern.

Target levels: 5.8870; 6.0780.