Glencore shares under pressure
From a technical perspective, the short term price rebound is likely to fade as the Relative Strength Index (RSI, 14) struck against its resistance threshold at 70% and broke down its short term rising trend line. Prices are nearing the 20-day simple moving average which is still ascending. A final rebound towards 180p is possible before the stock price reverses down towards 153p and 130p. Alternatively, a push above 190p would call for a further rise towards the key horizontal resistance at 216p (overlap).
Source: GAIN Capital, TradingView