Trends and Targets for 13/12/2018

SHELL #Germany #Nasdaq In the month since we last reviewed #Shell (link here), the price has gone to the dark side. Not only did it achieve our drop target at 2279p, it closed a crucial 4p below target. From our Big Picture perspective, this is not a good thing.

 

Despite presently trading around 2350p, we’ve little choice but to expect future weakness below 2275p to bring travel down to an initial 2167p. We do anticipate some sort of short lived bounce if (when) such a level is achieved. In the event 2167p breaks, bottom for a real rebound still calculates at 2097p. Or at least, this would be our hope.

Unfortunately, in the event of everything hitting the fan, quite strong reversal down to 1580p remains very possible, thanks to the share illustrating a continuing series of Lower Lows since it broke trend in November.

 

Quite surprisingly, the share does not need work terribly hard to suggest a coming escape attempt from its doom. At present, the situation demands movement above 2388p prove capable of 2444p next. In itself, a fairly lacklustre attempt but above 2444p allows us to present 2538p as a viable recovery position.

 

For now, we fear 2167p shall prove the secret plan and visually, there is certainly a reasonable excuse for a rebound at such a level. Hopefully it does not break.

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

10:03:06PM

BRENT

60.22

‘cess

10:05:12PM

GOLD

1246.14

Shambles

10:06:51PM

FTSE

6861.24

‘cess

10:09:30PM

FRANCE

4899.7

Success

10:11:39PM

GERMANY

10929

10789

10730

10649

10918

10976

11039

11190

10882

‘cess

10:13:58PM

US500

2649.77

‘cess

10:35:32PM

DOW

24533

‘cess

10:38:53PM

NASDAQ

6762.25

6727

6680.5

6618

6820

6870

6939

7074

6770

‘cess

10:40:46PM

JAPAN

21628

‘cess

 

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