$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.
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.
