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Mining share Glencore trade view: Neighbour
Joe Neighbour from Central Markets explains his trade on Glencore, the mining share.
Miners took a beating yesterday after Anglo and BHP downgraded their growth forecasts. Buyers stepped back in mid-afternoon and the mining shares bounced. Glencore held key support and closed above this level with a hammer candle. Uptrend looks solid and Neighbour is looking to place a stop underneath the low seen yesterday.
Neighbour plans to buy Glencore at market with a stop at 167p. The target is 225p.
01:05 minutes
Tags: glencore, joe neighbour, mining, saxo bank, saxo tv, saxotv, trade idea, trade view, tradingfloor.com
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