Trends and Targets for 26/11/2018

Oil and the Oil Sector #Brent #DAX #USCrude Some of the major producers share prices have tended behave silly recently, presumably mimicking price reductions in crude. We thought it time to revisit the master sector index in the hope of drilling deeper…

Firstly though, US Crude is causing a problem. The current cycle, presently around 50 dollars, should find a bounce point by 48 dollars. There are some quite grotty implications, should the 48 dollar line break as it could easily find a bottom around 36 dollars eventually. If our suspicion for a bounce anytime now is justified, this ties in with BLUE on the Oil Sector big picture chart.

At present, we are supposed to believe the Producers Index intends further reversals to 8200, perhaps even 7820 if broken. Balancing this argument is once of these weird “price movement things”, where a trend movement will sometimes back-test a historical trend. In the case of the NMX0530, this tends align with BLUE at 8490 presently. Only with closure below BLUE will we tend fear the worst for the sector, along with some dire future potential Crude Oil price drops.

Brent Crude is in a similar pickle to US Crude, presently trading around the 59 dollar mark. It has its own trendline capable of producing a bounce, ideally just before the 56 dollar level. The implications of closure below the 56 dollar level are strangely similar to US Crude with a bottom around the 35 dollar mark!

For the sake of oil shares, hopefully our expectation of a bounce very soon comes true.

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

1:00:02PM

BRENT

59.36

58.5

56.68

53.99

62.5

61.51

62.48

63.75

60.5

Success

1:02:44PM

GOLD

1223.84

Success

1:04:22PM

FTSE

6945.6

‘cess

1:06:03PM

FRANCE

4941.5

Shambles

1:08:07PM

GERMANY

11181

11129

11072.5

11027

11186

11207

11251

11305

11131

Shambles

1:09:53PM

US500

2629.25

1:11:24PM

DOW

24269

1:13:24PM

NASDAQ

6523.62

Success

1:14:48PM

JAPAN

21471

 

 

23/11/2018 FTSE Closed at 6952 points. Change of -0.11%. Total value traded through LSE was: £ 5,693,802,870 a change of 14.9%
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%

 

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