Trends and Targets for 18/01/2019

#FTSE for FRIDAY & #GBPUSD too. #Gold #SP500 With the strong & stable UK Govt working wonders with their negotiation and organisation skills, it was only a matter of time before the markets noticed, reacting positively. Or perhaps, more probably, have gotten bored with a lack of anything actually happening. The pound / dollar relationship is a case in point.

For quite a while, it appeared destined for parity but the last week has seen the pairing explode into territory where mild optimism is about the only thing possible. To be quite clear, this pair require exceed the Dark Blue line on the chart, presently at 1.38, before we dare upgrade our optimism level from mild to extremely sceptical! Only above Dark Blue will scrub our big picture calculations pointing at parity and below. However, a stay of execution from the immediate route to misery appears possible with the result anywhere above 1.308 (the immediate target) allows recovery to 1.33 next.

If exceeded, secondary calculates at 1.357.

There’s a fair chance we’re “only” watching delaying tactics prior to a real drop and if this is the case, the visuals indicate some stutters at the 1.33 level.

Chart goes here.

 

FTSE for FRIDAY The UK market closed at 6835, in the process providing a relatively entertaining day. If we gauge by after hours futures performance, apparently movement now above 6862 points should bring a climb to a tight fisted 6875 points. However, if bettered, our secondary calculates at 6899 points. In fact, if the PM and her opposition number were to resign, replaced by mime artists, there’s a chance the index could quickly surge to 6956 points on a tidal wave of sensible sounds from UK party leaders…

However, despite the state of after hours futures, we’re not entirely confident as to the markets intentions, suspecting weakness now below 6798 shall bring reversal to 6722 points!

Have a good weekend.

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

10:10:35PM

BRENT

61.19

10:12:17PM

GOLD

1292.33

1287

1284.5

1281

1294

1295

1298.35

1302.2

1289

10:14:43PM

FTSE

6864.81

10:16:05PM

FRANCE

4812.7

Shambles

10:17:53PM

GERMANY

10967

10:21:50PM

US500

2638

2590

2567

2541

2625

2641

2655

2677

2590

10:26:01PM

DOW

24375.5

‘cess

10:31:54PM

NASDAQ

6719

‘cess

10:33:45PM

JAPAN

20525

‘cess

 

17/01/2019 FTSE Closed at 6834 points. Change of -0.41%. Total value traded through LSE was: £ 4,874,028,125 a change of -20.52%
16/01/2019 FTSE Closed at 6862 points. Change of -0.48%. Total value traded through LSE was: £ 6,132,588,071 a change of 10.76%

 

80total visits,2visits today

One Reply to “Trends and Targets for 18/01/2019”

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.