Brent for 22/10/2019

#GOLD #SP500 When we reviewed Brent last month in an utter panic, due to “the Saudi thing”, we’d glued on our usual caveat, saying ‘to justify concern in another direction, the price of Brent requires drip below 56.50 dollars’. Guess what? In the period since, Brent managed to hit 56.1 dollars, filling the first requirement to open the taps of doom.

Increasingly with the markets we’re opting to play things a little safer, introducing something we call movement weights. This nonsense, long used in-house, essentially provides the first calculation which will signal whether a drop (or gain) is real. In the case of Brent, the situation now is of weakness below 56.1 being capable of provoking reversal down to an initial 53.78 dollars. In itself, a fairly insignificant movement but, should 53.78 dollars break, we’d take this as a triggering motion which should provide real reversal.

Thus, now below 53.78 looks capable of entering a cycle down to an initial 48 dollars. Secondary, if broken, calculates at 46 and firmly takes the black stuff into a region where it’s entirely possible 40 dollars should provide an eventual bounce level.

When we apply similar logic to demand confirmation movement in the other direction is viable, the stuff now needs exceed 63.8 to confirm any trend break is genuine. Recovery such as this should trigger moves to an initial 67.5 with secondary, if bettered, at 70.5 dollars. This sort of thing takes the price into a region where a longer term 77 looks possible – something very liable to be game changing from a big picture perspective. We’ve pencilled 90 dollars as an eventual target!

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:31:02PM	BRENT	58.87									‘cess
10:42:07PM	GOLD	1485.12	1481	1477.5	1471	1491	1496	1500.5	1507	1483	Sorry
10:43:59PM	FTSE	7169.42
10:45:54PM	FRANCE	5651.7
10:48:04PM	GERMANY	12759.7									‘cess
10:50:52PM	US500	3007.82	2989	2984	2976	3001	3008	3011	3015	2994
10:52:55PM	DOW	26844.4
10:55:33PM	NASDAQ	7943
10:58:44PM	JAPAN	22693									Success

 

21/10/2019 FTSE Closed at 7163 points. Change of 0.18%. Total value traded through LSE was: £ 5,828,185,910 a change of -4.14%

18/10/2019 FTSE Closed at 7150 points. Change of -0.45%. Total value traded through LSE was: £ 6,079,930,950 a change of -11.12%

17/10/2019 FTSE Closed at 7182 points. Change of 0.21%. Total value traded through LSE was: £ 6,840,362,941 a change of -0.43%

16/10/2019 FTSE Closed at 7167 points. Change of -0.61%. Total value traded through LSE was: £ 6,869,588,006 a change of -8.47%

15/10/2019 FTSE Closed at 7211 points. Change of -0.03%. Total value traded through LSE was: £ 7,505,649,682 a change of 32.93%

14/10/2019 FTSE Closed at 7213 points. Change of -0.47%. Total value traded through LSE was: £ 5,646,210,010 a change of -31.78%

11/10/2019 FTSE Closed at 7247 points. Change of 0.85%. Total value traded through LSE was: £ 8,276,859,342 a change of 51.67%