Mixed Bags of #Gold Nuggets. #Dax #Brent We tried something new at the weekend, giving a talk to the local (in Argyll) business community on thoughts for the future, Post-Brexit, using varied instruments as the basis of discussion. Obviously Sterling, Gold, Brent, the FTSE, and even Lloyds Bank featured in our presentation, each item provoking useful Q & A sessions.
As the bloke who talked for two hours, I was somewhat relieved at my reception once it was over. Amusingly, despite copious details for every one of the 24 slides, my notes remained in the side pocket of a laptop bag. It seems completing a presentation just 30 minutes before the event meant everything was easily remembered.
The big discovery; apparently it’s possible to talk about the stock market, making it interesting, useful, and entertaining! Perhaps foolishly, I found myself agreeing to do it again after Brexit, next time in a venue which can handle 300 people! Ego can be blooming dangerous but it would also be nice to be paid in future.
The was a malfunction with the person (Jaclyn of T&T) who was asked to video a few 15 second segments. She claimed she’d been so caught up in the subject matter she forgot her task. The better news, no video evidence will appear relating to a particular comment which questioned the parentage of market makers…
One of the subject areas, GOLD, is perhaps of special interest. As the chart below illustrates, the metal has broken a downtrend what dates back to 2011. As a result, there’s a pretty fair chance it’s about to start showing some proper recovery.
In keeping with our law demanding “Higher Highs”, the shiny stuff requires better 1328 presently and we’ll view it as on a cycle to 1373 next. Secondary, if bettered, is a longer term 1443. A word of warning, one which should be visually obvious. The prior highs of the Gold market in 2018 will be almost certain to provoke some hesitation in price growth, doubtless around the 1350 mark. As a result, we’d tend anticipate some stutters at such a level.
For it all to go wrong, the price requires melt back below BLUE on the chart, 1290 at present. Therefore, if taking a Big Picture long position and hoping for the best, it affords a relatively tight stop against such a large potential reward. We rather suspect this flamboyance in Gold prices should be reflected among the miners who specialise in the area.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
2:07:19AM |
BRENT |
66.34 |
63.6 |
63.325 |
62.32 |
65 |
66.4 |
67.02 |
68.08 |
63.2 |
Success |
|
2:09:50AM |
GOLD |
1321.77 |
Success |
||||||||
|
2:12:09AM |
FTSE |
7244.8 |
‘cess |
||||||||
|
2:14:28AM |
FRANCE |
5159.2 |
Shambles |
||||||||
|
2:16:04AM |
GERMANY |
11334.38 |
11012 |
10957 |
10831 |
11212 |
11335 |
11372.5 |
11424 |
11166 |
‘cess |
|
2:17:35AM |
US500 |
2778.12 |
‘cess |
||||||||
|
2:20:40AM |
DOW |
25901 |
Success |
||||||||
|
2:23:49AM |
NASDAQ |
7061.12 |
Shambles |
||||||||
|
2:25:43AM |
JAPAN |
21238 |
‘cess |
15/02/2019 FTSE Closed at 7236 points. Change of 0.54%. Total value traded through LSE was: £ 6,032,895,902 a change of 14.21%
14/02/2019 FTSE Closed at 7197 points. Change of 0.1%. Total value traded through LSE was: £ 5,282,181,289 a change of -13.05%