PM:XAUUSD & FTSE:UKX Questioning personal DIY abilities is perhaps normal but this week, pretty firm confirmation was delivered my time would be better spent playing with charts and numbers, rather than build a new shed for my little tractor. Just over a month ago, we advanced a scenario for weakness on Gold, the chart also highlighting gain potentials. The weakness didn’t happen, instead the metal has strengthened to our initial target of $1,862.
Our analysis focussed on the drop scenario, only the chart giving recovery potentials. Now the metal has reached as exceeded our initial target, we need run the numbers again.
Unfortunately, this week hasn’t been spent watching minute by minute movements on Gold. Instead, an easy job of assembling a metal shed consumed every free minute, reminding quite firmly why working with wood is preferable. By Wednesday morning, the 2 metre tall structure was almost complete, just needing the sliding doors bolted in place. This unfortunately revealed the true nature of my personal incompetence. The plastic mountings for the doors had fitted neatly inside the door lintel, a bit of frame onto which the gable end was bolted. And onto the gable end, the roof had been bolted.
Only when an attempt was made to bolt the doors onto their runners did it become clear the fiddly bits of plastic should have been mounted outside the door lintel. The entire wall and roof of the shed needed dismantled, just to move 4 bits of plastic into the correct location. Finally, as it grew dark today at 4.00pm, the doors were fitted, the structure finally solid and weather proof hopefully. Only four bits of undocumented metal were left over from the job. As an aside, a timber shed for the tiny tractor was quoted at £1,700 whereas the metal shed was just £379. This disparity in costs makes us suspect the building industry shall experience a wake up call, due to absurd inflation in the cost of materials forcing a slow down in orders.
As for GOLD, we’ve established a new trigger level for further growth at $1,873. The immediate situation suggests growth above such a level should expect further strength to an initial $1,900. If bettered, we expect some hesitation at the $1,947 level. We’ve shown some potentials from the Big Picture on the chart below, arguments demanding we below $2,100 should be possible eventually. In this instance, our intention is to revisit Gold should our $1,947 make an appearance.
If Gold now intends a bit of a meltdown, the price needs below 1,813 to suggest concern, allowing weakness to an initial 1,794 with secondary, if (when) broken at 1,770 and hopefully a proper bounce. However, for now we fear the narrator for ‘Gold Rush’ on telly shall once again, be patiently explaining how the price of the metal is making mining profitable, even for some of the crews featured, people who couldn’t even build a shed…
FTSE for FRIDAY The FTSE has enjoyed an extraordinary week, often experiencing gains while other markets floundered. Perhaps the days of the FTSE catching flu, when everyone else has a mild cold, shall be a distant memory. London is certainly very close to challenging the downtrend (Blue) since 2018, also gathering sufficient ammunition to make an attempt at the pre-pandemic drop level around the 7500 point mark. We do anticipate some market hesitation, should such a level be challenged, as this has tended be the case with other markets. The FTSE will require to actually close a session above 7535 to convince us it’s intending break for new highs.
The immediate situation is quite exciting, suggesting above 7395 should make an attempt at 7475 points next. If bettered, our secondary calculates at 7558 points. If triggered, the tightest stop is slightly ridiculous at 7356 points, almost ensuring we’re cynical as the Risk/Reward balance is uncommonly generous. Visually, we prefer advocating 7320 points as a stop level, along with a strong warning to be extremely careful, if any upward movement is an upward spike in the opening second of trade. After so saying, Thursday pulled such a stunt, the market actually gapped up, then spiked thereafter.
Our favourite rule of thumb is to utterly distrust an opening spike UNLESS it is exceeded within the first 90 minutes of a session.
If things intend go a little wrong, below 7356 points suggests the potential of weakness to an initial 7340 points. If broken, our secondary calculation works out at 7261 points and hopefully a proper rebound.
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FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:46:49PM | GOLD | 1863.01 | 1841 | 1833 | 1856 | 1866 | 1868 | 1851 | |||
| 10:48:46PM | BRENT | 82.07 | 81.39 | 80.84 | 82.73 | 82.95 | 83.53 | 81.94 | |||
| 10:53:15PM | FTSE | 7386.28 | 7315 | 7285 | 7351 | 7399 | 7407 | 7299 | Success | ||
| 11:00:21PM | FRANCE | 7056 | 7031 | 7012 | 7061 | 7064 | 7079 | 7041 | Success | ||
| 11:02:25PM | GERMANY | 16100 | 16004 | 15990 | 16044 | 16102 | 16124 | 16063 | Success | ||
| 11:04:30PM | US500 | 4653.22 | 4644 | 4635 | 4662 | 4667 | 4673 | 4652 | |||
| 11:07:15PM | DOW | 35996.5 | 35909 | 35782 | 36055 | 36122 | 36138.75 | 36010 | ‘cess | ||
| 11:09:28PM | NASDAQ | 16047 | 15987 | 15943 | 16086 | 16122 | 16158 | 16017 | ‘cess | ||
| 11:11:34PM | JAPAN | 29422 | 29112 | 29063 | 29354 | 29457 | 29554 | 29274 | ‘cess |
11/11/2021 FTSE Closed at 7384 points. Change of 0.6%. Total value traded through LSE was: £ 5,675,393,557 a change of -10.05%
10/11/2021 FTSE Closed at 7340 points. Change of 0.91%. Total value traded through LSE was: £ 6,309,453,625 a change of -1.99%
9/11/2021 FTSE Closed at 7274 points. Change of -0.36%. Total value traded through LSE was: £ 6,437,458,851 a change of 17.56%
8/11/2021 FTSE Closed at 7300 points. Change of -0.04%. Total value traded through LSE was: £ 5,475,805,501 a change of 1.81%
5/11/2021 FTSE Closed at 7303 points. Change of 0.33%. Total value traded through LSE was: £ 5,378,363,881 a change of -21.99%
4/11/2021 FTSE Closed at 7279 points. Change of 0.43%. Total value traded through LSE was: £ 6,894,189,975 a change of 28.51%
3/11/2021 FTSE Closed at 7248 points. Change of -0.36%. Total value traded through LSE was: £ 5,364,561,051 a change of -4.12%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:BLOE Block Energy PLC** **LSE:DGE Diageo** **LSE:EXPN Experian** **LSE:FRES Fresnillo** **LSE:IGAS Igas Energy** **LSE:ITV ITV** **LSE:ODX Omega Diags** **LSE:OXIG Oxford Instruments** **LSE:POLY Polymetal** **LSE:SPX Spirax** **
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Updated charts published on : Aston Martin, Asos, Block Energy PLC, Diageo, Experian, Fresnillo, Igas Energy, ITV, Omega Diags, Oxford Instruments, Polymetal, Spirax,
LSE:AML Aston Martin Close Mid-Price: 1631 Percentage Change: -2.04% Day High: 1685 Day Low: 1619
In the event Aston Martin experiences weakness below 1619 it calculates w ……..
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View Previous Aston Martin & Big Picture ***
LSE:ASC Asos Close Mid-Price: 2800 Percentage Change: -0.78% Day High: 2914 Day Low: 2790
Continued trades against ASC with a mid-price ABOVE 2914 should improve t ……..
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View Previous Asos & Big Picture ***
LSE:BLOE Block Energy PLC Close Mid-Price: 1.4 Percentage Change: -3.45% Day High: 1.45 Day Low: 1.35
Weakness on Block Energy PLC below 1.35 will invariably lead to 1.15 with ……..
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View Previous Block Energy PLC & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 3801.5 Percentage Change: + 0.94% Day High: 3807.5 Day Low: 3762
All Diageo needs are mid-price trades ABOVE 3807.5 to improve acceleratio ……..
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View Previous Diageo & Big Picture ***
LSE:EXPN Experian Close Mid-Price: 3465 Percentage Change: -0.29% Day High: 3495 Day Low: 3457
Continued trades against EXPN with a mid-price ABOVE 3495 should improve ……..
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View Previous Experian & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 984.6 Percentage Change: + 2.65% Day High: 997.6 Day Low: 958.8
Target met. In the event of Fresnillo enjoying further trades beyond 997. ……..
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View Previous Fresnillo & Big Picture ***
LSE:IGAS Igas Energy. Close Mid-Price: 14.62 Percentage Change: + 0.52% Day High: 14.5 Day Low: 13.5
Continued weakness against IGAS taking the price below 13.5 calculates as ……..
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View Previous Igas Energy & Big Picture ***
LSE:ITV ITV Close Mid-Price: 123.45 Percentage Change: -1.91% Day High: 124.45 Day Low: 120.45
State propoganda re-broadcaster ITV appears to be on the edge of becoming ……..
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View Previous ITV & Big Picture ***
LSE:ODX Omega Diags Close Mid-Price: 43.74 Percentage Change: -3.87% Day High: 45.5 Day Low: 43.25
In the event Omega Diags experiences weakness below 43.25 it calculates w ……..
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View Previous Omega Diags & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 2150 Percentage Change: -4.66% Day High: 2310 Day Low: 2150
Weakness on Oxford Instruments below 2150 will invariably lead to 1779 in ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:POLY Polymetal. Close Mid-Price: 1509 Percentage Change: + 4.14% Day High: 1520.5 Day Low: 1469
Above 1521 now indicates the potential of gains to an initial 1615p. If ex ……..
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View Previous Polymetal & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 16995 Percentage Change: + 4.42% Day High: 16850 Day Low: 16250
Target met. All Spirax needs are mid-price trades ABOVE 16850 to improve ……..
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View Previous Spirax & Big Picture ***