#FTSE The price of oil has reversed but not with any great commitment, so far. The US announced they were not going to attack Iran on Thursday evening as a Peace Deal with be signed shortly. Needless to say, Iran announced three hours later no final decision had been reached and thus, it was the US’s fault. The market appears to be inured to political nonsense, the price of Brent reversing to the $88 dollar level, insufficient (in our opinion) to successfully trigger some real softening of the oil price. At present, we calculate Brent Crude needs below $85.50 to trigger a convincing cycle of drops, perhaps with a target now around $62 and a return to the price levels experienced in February this year.
As for the FTSE, it has been behaving with similar conviction as the price of Crude, and again it’s probably politics to blame. It’s certainly looking like a problem for the UK Prime Minister who’s proving a little careless in keeping Government Ministers, several choosing to resign rather than back the current “cunning plan” for the military. Essentially, it appears the UK Treasury and Prime Minister have concluded the easiest way to sort out of the military will be to make it vanish. After all, if there was not a military, they couldn’t be accused of failing to manage the military. Apparently a “Budget Review” is to be released on Friday, when Parliament isn’t sitting, which shall reveal substantial cuts in spending. Perhaps this means all the Royal Navy’s rowing boats will only have one oar, thus able to go in circles and nothing else. It’s going to be interesting if the current PM survives in his post until the end of the month and the FTSE now “feels” like it is waiting something significant happening.
Near term, if the FTSE intends do anything positive, above 10,370 should prove important, hopefully triggering market gains to an initial 10,450 with our secondary, if beaten, at 10,479 points. This would certainly be significant, nudging the market into a zone where a third level target of 10,595 calculates as very possible. If triggered, the tightest stop loss level looks like 10,252 points. Hopefully some positive news breaks as it’d be nice to enjoy the Barcelona Grand Prix with a backdrop of the markets turning positive.
Should things intend go awry, below 10,252 could trigger near term reversal to an initial 10,213 points. If broken, our secondary works out at 10,123 points.
Have a good weekend and enjoy the race from Spain, often quite entertaining.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:57:51PM | BRENT | 8811.8 | 8742 | 8667 | 9140 | 9391 | 9510 | 9056 | ‘cess | ||
| 11:02:59PM | GOLD | 4212.59 | 4051 | 3985 | 4120 | 4249 | 4285 | 4158 | ‘cess | ||
| 11:07:30PM | FTSE | 10411.4 | 10285 | 10242 | 10362 | 10418 | 10467 | 10322 | Success | ||
| 11:13:03PM | STOX50 | 6178.6 | 6020 | 5980 | 6084 | 6176 | 6230 | 6122 | Success | ||
| 11:15:35PM | GERMANY | 24644.1 | 24073 | 23953 | 24358 | 24664 | 24747 | 24427 | ‘cess | ||
| 11:17:35PM | US500 | 7403.4 | 7252 | 7194 | 7332 | 7411 | 7429 | 7344 | Success | ||
| 11:20:51PM | DOW | 50907.3 | 50036 | 49694 | 50398 | 50960 | 51176 | 50617 | Success | ||
| 11:23:16PM | NASDAQ | 29509 | 28539 | 28163 | 29007 | 29558 | 29616 | 29263 | Success | ||
| 11:26:56PM | JAPAN | 66365 | 63954 | 63208 | 64678 | 66700 | 67686 | 66029 | Success |
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:EXPN Experian** **LSE:IGG IG Group** **LSE:QED Quadrise** **LSE:TW. Taylor Wimpey** **
********
Updated charts published on : Aston Martin, Experian, IG Group, Quadrise, Taylor Wimpey,
LSE:AML Aston Martin. Close Mid-Price: 41.48 Percentage Change: + 0.00% Day High: 0 Day Low: 0
In the event Aston Martin experiences weakness below 40p it calculates wi ……..
</p
View Previous Aston Martin & Big Picture ***
LSE:EXPN Experian. Close Mid-Price: 2497 Percentage Change: + 0.00% Day High: 0 Day Low: 0
If Experian experiences continued weakness below 2497p, it will invariabl ……..
</p
View Previous Experian & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 1913 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. Further movement against IG Group ABOVE 1927 should improve a ……..
</p
View Previous IG Group & Big Picture ***
LSE:QED Quadrise. Close Mid-Price: 1.9 Percentage Change: + 0.00% Day High: 0 Day Low: 0
This is getting dangerous as weakness now below 1.8 risks a visit to 1.57 ……..
</p
View Previous Quadrise & Big Picture ***
LSE:TW. Taylor Wimpey. Close Mid-Price: 74.1 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Continued weakness against TW. taking the price below 74.1 calculates as ……..
</p
View Previous Taylor Wimpey & Big Picture ***