BRENT CRUDE. Does it have a future? Despite visits to petrol stations once again feeling like state sponsored theft, BRENT has been showing some hesitation on the current movement cycle.
There’s a heck of an argument demanding the product relax to 66.7 on the current cycle with the potential of a fake bounce at 69.9. To utterly cancel this prospect, the price needs exceed 79.9 – the dark BLUE line on the chart.
What happens if 79.9 bettered?
Obviously, the immediate downtrend since 2013 shall be exceeded, launching the product into a region with an initial ambition of 82. And if exceeded, secondary calculates at 87 – a point we expect to provoke some serious hesitation. What’s a little surprising this year has been the respect paid to the 2013 downtrend, almost as if the world really does not expect the price to continue upward. But before once again confirming a drop happening, the price needs drop below 75.6 to once again suggest relaxation is taking place.
For now, about the best we can hope is a drop in the price when the UK Govt relaxes the VAT rate, due to the EU instruction of an increase to 20% ceasing to be valid after Brexit. While awaiting such a development, time can be gainfully passed by counting flying pigs.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
4:59:16PM |
BRENT |
77.7 |
77.21 |
77.055 |
76.64 |
78 |
78.19 |
78.7075 |
79.89 |
77.4 |
||
5:01:20PM |
GOLD |
1201.79 |
||||||||||
5:06:19PM |
FTSE |
7457.73 |
Success |
|||||||||
5:08:24PM |
FRANCE |
5408.5 |
Success |
|||||||||
5:11:44PM |
GERMANY |
12366.75 |
12301 |
12257 |
12197 |
12416 |
12470 |
12486.5 |
12546 |
12366 |
‘cess |
|
5:13:50PM |
US500 |
2906.32 |
||||||||||
5:16:41PM |
DOW |
26012.7 |
Success |
|||||||||
5:18:21PM |
NASDAQ |
7667.25 |
||||||||||
5:20:24PM |
JAPAN |
22812 |
31/08/2018 FTSE Closed at 7432 points. Change of -1.12%. Total value traded through LSE was: £ 9,632,198,145 a change of 50.9%
30/08/2018 FTSE Closed at 7516 points. Change of -0.62%. Total value traded through LSE was: £ 6,383,041,209 a change of -4.59%
29/08/2018 FTSE Closed at 7563 points. Change of -0.71%. Total value traded through LSE was: £ 6,689,862,229 a change of -11.15%
28/08/2018 FTSE Closed at 7617 points. Change of 0.53%. Total value traded through LSE was: £ 7,529,661,342 a change of 30.8%
24/08/2018 FTSE Closed at 7577 points. Change of 0.19%. Total value traded through LSE was: £ 5,756,795,130 a change of -17.36%
23/08/2018 FTSE Closed at 7563 points. Change of -0.15%. Total value traded through LSE was: £ 6,966,445,199 a change of -4.37%
22/08/2018 FTSE Closed at 7574 points. Change of 0.12%. Total value traded through LSE was: £ 7,284,592,540 a change of 12.38%