#Brent #DAX Starting a new week by reviewing our previous reports certainly provides an easy way to clear the mental fog of a lazy weekend. While we tend not review our FTSE for FRIDAY (in case an apology is needed!), Fridays song and dance managed to step on all the wrong notes. Confusing would be an understatement.
The funny thing though, it was not just the FTSE which self immolated. Japan retained some dignity but of course, when the Nikkei opens in the early hours of Monday, it will probably follow the rest of the world in adopting a chaotic stance to market moves.
The problem we experienced, broadly speaking, related to our initial upward targets. Most markets hit and slightly exceeded these targets. But as the day progressed, rather than attempt higher travel, markets instead opted to race downward faster than the media attempting to take the worst possible meaning from anything said by Trump, Corbyn, or Johnstone.
Our suspicion remains of some coming reversals, hopefully nothing severe. And doubtless surprise recovery toward the middle of August.
As for Ethereum (prior report link), the fake coin indeed reached our initial bounce target of 227, even exceeding it slightly and hitting 237. The recovery situation can be refined slightly as movements above 237 should now bring an initial 251 dollars. If exceeded, our secondary is at 271 dollars. If triggered, the market needs below 209 to cancel the rise potentials. Please remember, from a bigger picture stance, we suspect it intends hit 95 dollars eventually!
Cairn Energy hasn’t really done anything interesting yet but near term, any drift below 152p should find a bottom by 143.75p, a point at which we’d hope for a rebound. This potential is enhanced, due to its previous drip to this level back in June.
A G Barr, once pride of Scotland, allowed us to issue a warning (link here) for the future, if the share closed a session below 616p. The share price has now closed below this trigger twice and now just awaits a drip below 600p and it shall doubtless fulfil the next part of our outlook, a trip down to 498p. While we’re fond of our warning, “if it ain’t going down, it’s going up”, only 4 sessions have elapsed since the severe drop. The share requires above 712p just to give a slight hint a further drop is not on the immediate cards.
It remains worth keeping an eye on as we do anticipate a rebound, should 498p make an appearance.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
7:07:58PM |
BRENT |
62.72 |
61.68 |
61.385 |
60.76 |
62.71 |
63.24 |
64.075 |
65.07 |
62.23 |
‘cess |
|
7:09:27PM |
GOLD |
1425.57 | |||||||||
|
7:11:39PM |
FTSE |
7493.51 |
Shambles | ||||||||
|
7:24:57PM |
FRANCE |
5547.7 |
‘cess | ||||||||
|
7:27:13PM |
GERMANY |
12215 |
‘cess | ||||||||
|
7:41:38PM |
US500 |
2969 |
2968 |
2945.5 |
2921 |
3000 |
3007 |
3016 |
3032 |
2972 |
Shambles |
|
7:44:43PM |
DOW |
27103 |
‘cess | ||||||||
|
9:04:30PM |
NASDAQ |
7807.87 |
Shambles | ||||||||
|
9:08:57PM |
JAPAN |
21263 |
Success |