Trends and Targets for 23/11/2018

#FTSE for FRIDAY #Brent #Nasdaq With a wry smile, a newspaper headline suggesting politicians plan to panic both the stock market and currency markets to instil fear, should their Brexit plans fail acceptance, came as no surprise. Didn’t the #Tesla guy use a similar gambit prior to losing his job? Probably a win-win scenario for those involved in Brexit.

To suggest the FTSE is confusing at present risks understating the situation. From an immediate perspective, there’s the threat of weakness below 6940 bringing traffic down to an initial 6895 points. If broken, secondary is at 6858 points. If triggered, stop needs reside at 7018 points.

 

The other side of the coin is a little more interesting!

 

Should the market (it closed at 6960 points) manage above 7018 points, further recovery to 7046 looks viable. While perhaps sounding useful, the market actually requires better 7081 currently to enter a cycle toward an initial 7195 points. If exceeded, longer term surprises await at a less likely 7382 points.

The reason for mentioning this is fairly straightforward. Should our incompetent politicians somehow manage to produce agreement which the markets look favourably on, only above BLUE shall we dare take is seriously.

For now, we suspect the absence of positive sentiment will provide a further bottom at 6858 points.

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

10:09:03PM

BRENT

62.75

62.45

61.9

60.97

64.01

64.02

64.395

65.03

62.75

‘cess

10:11:14PM

GOLD

1227.95

Shambles

10:32:03PM

FTSE

6960.81

10:33:35PM

FRANCE

4943.7

‘cess

10:35:35PM

GERMANY

11156

Shambles

10:37:26PM

US500

2633.05

‘cess

10:39:27PM

DOW

24335

Success

10:41:22PM

NASDAQ

6513.62

6494

6463

6405

6554

6554

6580

6592

6519

‘cess

10:44:14PM

JAPAN

21564

22/11/2018 FTSE Closed at 6960 points. Change of -1.28%. Total value traded through LSE was: £ 4,955,552,267 a change of -31%
21/11/2018 FTSE Closed at 7050 points. Change of 1.48%. Total value traded through LSE was: £ 7,182,086,025 a change of 1.94%
20/11/2018 FTSE Closed at 6947 points. Change of -0.76%. Total value traded through LSE was: £ 7,045,402,648 a change of 18.19%
19/11/2018 FTSE Closed at 7000 points. Change of -0.19%. Total value traded through LSE was: £ 5,960,855,965 a change of -20.04%
16/11/2018 FTSE Closed at 7013 points. Change of -0.36%. Total value traded through LSE was: £ 7,454,640,386 a change of -16.24%
15/11/2018 FTSE Closed at 7038 points. Change of 0.07%. Total value traded through LSE was: £ 8,900,271,533 a change of 20.4%
14/11/2018 FTSE Closed at 7033 points. Change of -0.26%. Total value traded through LSE was: £ 7,392,389,555 a change of -2.52%

 

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