glencore / chart / base metals

I think in the next 4 weeks we will abandon the trading range and see a higher SP.

interesting read:

http://resourceinvestingnews.com/29735-glencore-poised-to-fully-acquire-congolese-copper-cobalt-miner-katanga-analysts-say.html

Chart: buy
Price and moving averages
Price and moving averages has closed above its Short term moving average. Short term moving average is currently above mid-term; AND above long term moving averages. From the relationship between price and moving averages; we can see that: This stock is BULLISH in short-term; and BULLISH in mid-long term.
Bollinger Bands
BTR.AX has closed below upper band by 14.9%. Bollinger Bands are 60.6% narrower than normal. The narrow width of the bands suggests low volatility as compared to BTR.AX's normal range. The bands have been in this narrow range for 3 bars. This is a sign that the market may be about to initiate a new trend.

Base Metals:
Kitco News) - Deutsche Bank says the recently strong base-metals “may be getting ahead of itself,” yet corrections could be limited. Industrial metals have been underpinned by supportive economic indicators in the U.S., ideas China will avoid a “hard landing” in its economy, short covering and stated intentions by the Federal Open Market Committee to keep U.S. interest rates at low levels until late 2014. “We expect that, once again, the market is getting ahead of itself, ignoring the seemingly obvious macro risks which remain, particularly Europe,” Deutsche Bank says. “However we expect that given investor confidence that monetary authorities remain firmly entrenched in the background to support the global financial system, a correction may be limited.”