Trends and Targets for 14/09/2018

FTSE FOR FRIDAY (FTSE:UKX) London has experienced a pretty inconclusive week with the FTSE opting to dance 50 points above and below an imaginary line at 7272. The implication, should this trading range break, is of some sharp movement ahead.

A reasonable question will be “what direction?”

We suspect downward. A big picture drop target of 7360 has been broken, the market opting to mess around just below this level. It tends imply further reversals can be expected. The immediate suggestion is of weakness now below 7275 (remember, we are talking FTSE and not after hours FTSE futures) bringing reversal to an initial 7238 points. If broken, our secondary calculates at 7214 points. Stop can be 7320 points.

Of course, if the market makes it above 7320 points, there’s a fair chance of a breakout from the immediate trading range as we’re looking for an initial 7350 points. If bettered, secondary is at 7395 points. Stop can be placed at 7278 points.

Enjoy a sunny, good weather weekend. Here in Argyll, Scotland, the weather is making up the shortfall in annual rainful and bringing a return to the damp, windy, and miserable conditions which make our 3 months of summer worthwhile.

Chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:26:02PM

BRENT

78.2

77.63

77.21

76.77

78.43

78.4

78.6125

78.75

77.8

Success

10:28:03PM

GOLD

1201.97

‘cess

10:29:56PM

FTSE

7290.14

10:31:52PM

FRANCE

5341.5

‘cess

10:35:44PM

GERMANY

12087.99

‘cess

10:37:29PM

US500

2904.37

‘cess

10:40:06PM

DOW

26150.7

10:42:20PM

NASDAQ

7563.12

7452

7257

7050

7511

7577.7

7594

7610

7504

‘cess

10:45:38PM

JAPAN

22963

Success

13/09/2018 FTSE Closed at 7281 points. Change of -0.44%. Total value traded through LSE was: £ 7,702,800,654 a change of -12.29%
12/09/2018 FTSE Closed at 7313 points. Change of 0.55%. Total value traded through LSE was: £ 8,782,533,108 a change of 9.2%
11/09/2018 FTSE Closed at 7273 points. Change of -0.08%. Total value traded through LSE was: £ 8,042,792,002 a change of -0.09%
10/09/2018 FTSE Closed at 7279 points. Change of 0.03%. Total value traded through LSE was: £ 8,050,026,757 a change of -26.36%
7/09/2018 FTSE Closed at 7277 points. Change of -0.56%. Total value traded through LSE was: £ 10,931,787,277 a change of 12.39%
6/09/2018 FTSE Closed at 7318 points. Change of -0.88%. Total value traded through LSE was: £ 9,726,599,947 a change of 2.33%
5/09/2018 FTSE Closed at 7383 points. Change of -0.99%. Total value traded through LSE was: £ 9,504,910,826 a change of 30.99%

 

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