#FTSE #GOLD
A throwaway saying, “Sleepwalked into it”, has always gone unquestioned until last night, when a surprise side effect of a Diabetes drug decided to make itself known. Apparently, I rose from bed, stepped over the sleeping dog, walked through the lounge into the kitchen, and turned the kettle on. Then went into the toilet and flushed without using it, returning to the kitchen and turning the kettle off. And then went back to bed. My wife realised something was “off” as I’d ignored her ‘morning’ greeting and also ignored my expresso machine in favour of the kettle. Facing the usual quandary question of whether to wake the sleepwalker, she instead rushed to get her mobile phone to video the incident and tripped over the dog who’d suddenly stood up, falling onto the bed, waking me.
The point behind this is pretty simple. The sleepwalker avoided hazards, the person who was awake didn’t.
Maybe the term “Sleepwalked into it” is another of life’s misnomers but regardless, we’re trying a new drug to treat Type 2 Diabetes as this wasn’t a comfortable experience for anyone in the household.
Last week in our FTSE for FRIDAY, we’d expressed some optimism for the FTSE as despite lots of media hype suggesting market reversals, the FTSE appears to indeed be setting out on a path to 7777 points, refusing to sleepwalk into the much promised recession. The situation remains fairly promising.
Now above 7604 suggests the potential of further gains to an initial tame 7622 points with secondary, if beaten, a slightly more encouraging 7642 points. Overall, we continue to regard 7777 as a viable target eventually on the current cycle. Unfortunately, the required stop loss for this scenario remains insane at 7421 points.
Our converse scenario implies the market needs below 7505 to provoke reversal to an initial 7481 with secondary, if broken, at 7421 and hopefully a bounce.
GOLD (XAU/USD) is getting a little interesting, presenting some allegedly safe characteristics. It’s apparently the case movement now above 1805 dollars should next make an attempt at 1835 dollars with our secondary, if bettered, working out at 1901 dollars. We’ve loads of arguments favouring gains such as this, perhaps too many as it makes us suspicious. Then again, it is the festive season and maybe Gold is about to enjoy its own little Santa Rally. It needs below $1750 to justify panic.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:54:04PM | BRENT | 87.1 | 86.2 | 85.07 | 87.76 | 89.36 | 89.965 | 86.7 | Success | ||
| 9:57:13PM | GOLD | 1803.69 | 1793 | 1789 | 1799 | 1804 | 1810 | 1774 | Success | ||
| 9:59:25PM | FTSE | 7560.73 | 7542 | 7520 | 7566 | 7619 | 7649 | 7573 | |||
| 10:01:42PM | STOX50 | 3980.9 | 3965 | 3953 | 3987 | 4004 | 4015 | 3983 | |||
| 10:03:57PM | GERMANY | 14487 | 14414 | 14364 | 14510 | 14564 | 14614 | 14473 | |||
| 10:05:40PM | US500 | 4073.67 | 4049 | 4036 | 4088 | 4090 | 4100 | 4068 | ‘cess | ||
| 10:07:45PM | DOW | 34362 | 34124 | 33872 | 34339 | 34664 | 34787 | 34445 | |||
| 10:09:32PM | NASDAQ | 12022 | 11923 | 11882 | 12055 | 12119 | 12158 | 12006 | ‘cess | ||
| 10:11:48PM | JAPAN | 28001 | 27922 | 27855 | 28045 | 28304 | 28420 | 28134 | ‘cess |
1/12/2022 FTSE Closed at 7558 points. Change of -0.2%. Total value traded through LSE was: £ 4,958,235,310 a change of -42.03%
30/11/2022 FTSE Closed at 7573 points. Change of 0.81%. Total value traded through LSE was: £ 8,552,950,993 a change of 45.26%
29/11/2022 FTSE Closed at 7512 points. Change of 0.51%. Total value traded through LSE was: £ 5,887,947,739 a change of 42.84%
28/11/2022 FTSE Closed at 7474 points. Change of -0.16%. Total value traded through LSE was: £ 4,121,947,461 a change of -6.58%
25/11/2022 FTSE Closed at 7486 points. Change of 0.27%. Total value traded through LSE was: £ 4,412,047,721 a change of 36.26%
24/11/2022 FTSE Closed at 7466 points. Change of 0.01%. Total value traded through LSE was: £ 3,237,992,179 a change of -28.67%
23/11/2022 FTSE Closed at 7465 points. Change of 0.17%. Total value traded through LSE was: £ 4,539,480,951 a change of 32.52%
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:AVCT Avacta** **LSE:CEY Centamin** **LSE:DGE Diageo** **LSE:FRES Fresnillo** **LSE:HIK Hikma** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IHG Intercontinental Hotels Group** **LSE:IQE IQE** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **
********
Updated charts published on : Avacta, Centamin, Diageo, Fresnillo, Hikma, Igas Energy, IG Group, Intercontinental Hotels Group, IQE, ITM Power, Intertek,
LSE:AVCT Avacta. Close Mid-Price: 106.4 Percentage Change: + 4.31% Day High: 108.5 Day Low: 102.5
If Avacta experiences continued weakness below 102.5, it will invariably ……..
</p
View Previous Avacta & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 108.5 Percentage Change: + 2.75% Day High: 108.85 Day Low: 105.7
Target met. In the event of Centamin enjoying further trades beyond 108.8 ……..
</p
View Previous Centamin & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 3846 Percentage Change: + 1.00% Day High: 3881.5 Day Low: 3828.5
All Diageo needs are mid-price trades ABOVE 3881.5 to improve acceleratio ……..
</p
View Previous Diageo & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 903.2 Percentage Change: + 0.62% Day High: 910 Day Low: 893.6
Target met. Continued trades against FRES with a mid-price ABOVE 910 shou ……..
</p
View Previous Fresnillo & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1541.5 Percentage Change: + 1.82% Day High: 1557.5 Day Low: 1506.5
Target met. Further movement against Hikma ABOVE 1557.5 should improve ac ……..
</p
View Previous Hikma & Big Picture ***
LSE:IGAS Igas Energy Close Mid-Price: 20.2 Percentage Change: -8.18% Day High: 21.6 Day Low: 19.5
In the event Igas Energy experiences weakness below 19.5 it calculates wi ……..
</p
View Previous Igas Energy & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 836.5 Percentage Change: + 2.07% Day High: 844.5 Day Low: 822.5
All IG Group needs are mid-price trades ABOVE 844.5 to improve accelerati ……..
</p
View Previous IG Group & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 4820 Percentage Change: + 0.48% Day High: 4863 Day Low: 4806
Target met. All Intercontinental Hotels Group needs are mid-price trades ……..
</p
View Previous Intercontinental Hotels Group & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 53.1 Percentage Change: + 2.31% Day High: 54.4 Day Low: 52.2
Target met. In the event of IQE enjoying further trades beyond 54.4, the ……..
</p
View Previous IQE & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 104.55 Percentage Change: + 1.36% Day High: 108.1 Day Low: 102.35
All ITM Power needs are mid-price trades ABOVE 108.1 to improve accelerat ……..
</p
View Previous ITM Power & Big Picture ***
LSE:ITRK Intertek. Close Mid-Price: 4093 Percentage Change: + 1.19% Day High: 4158 Day Low: 4059
Continued trades against ITRK with a mid-price ABOVE 4158 should improve ……..
</p
View Previous Intertek & Big Picture ***