#Gold #SP500 Our previous commentary on #Barclays (link) expressed concern, should the share price be gapped below the Blue downtrend on the chart. Unfortunately, thanks to market jitters blamed on a virus from China, the Gap of Doom was inflicted at the open on the 27th, creating a GaGa scenario.
This absurdity allegedly placed Barclays under threat of reversal to 110p eventually!
Thankfully, we have doubts as this little doze of nastiness appeared almost worldwide, as markets attempt to convince traders and investors an apocalypse is coming. We’re pretty far from convinced presently, suspecting quite the opposite to be honest. London would almost be enacting a public service, attempting to convince investors to panic and thus free up some reasonably priced shares, prior to a future rise.
However, we dare not ignore Barclays being pushed below the trend, now residing in an area where weakness next below 169p looks perfectly capable of an initial 163p. If broken, secondary is a visually less comfortable 155p. This level creates a real problem, dumping the share price into a zone where a jittery market or negative news could drive Barclays down to 140p.
If we pretend some optimism, Barclays need only exceed 176p and it feels capable of triggering movement up to 182p initially. If exceeded, secondary comes in at 192p, along with the need to review the share price again.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:13:13PM |
BRENT |
58.22 |
Success | ||||||||
10:15:47PM |
GOLD |
1582.81 |
1576 |
1573.5 |
1569 |
1585 |
1587 |
1591.5 |
1597 |
1580 |
‘cess |
10:18:33PM |
FTSE |
7405.88 |
Success | ||||||||
10:21:46PM |
FRANCE |
5856.5 |
Shambles | ||||||||
10:30:01PM |
GERMANY |
13203 |
Success | ||||||||
10:33:27PM |
US500 |
3242.87 |
3233 |
3210 |
3184 |
3270 |
3270 |
3282 |
3298 |
3240 |
Success |
10:35:52PM |
DOW |
28532 |
‘cess | ||||||||
10:38:47PM |
NASDAQ |
8950.87 |
‘cess | ||||||||
10:42:23PM |
JAPAN |
23052 |
Shambles |
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