SHELL for 3/06/2019

SHELL #Brent #DAX When we last reviewed Shell, we’d expected a bounce at 2167 but, thankfully, the share price rebounded just above this point at 2200p. Perhaps it indicates strength? Crude Oil prices are being hammered, so we should really reviewed Shells potentials again.

The immediate situation is slightly dangerous as weakness now below 2440 suggests some travel coming down do 2359p next. Visually, this is pretty non threatening but issues start to develop with closure below such a point. Essentially, it opens the door for further relaxation down to 2177p and this time, we suspect it shall hit.

The chart below highlights a major issue, should 2177 make an appearance. The price shall break below the uptrend since 2016 and thus, enter ambiguous territory where a series of severe drops become possible, potentially down to 1725p or worse. Some good news comes from Shells traditional strength as there are suggestions 2177 should prove capable of providing a realistic rebound.

Even from an immediate perspective, we’d have considerable hope if Shell somehow found sufficient excuse to better BLUE on the chart, presently at 2568p. This would, quite realistically, move the price into a region where a new high of 2984p becomes target.

For now, we suspect it shall prove worth watching in the months ahead for 2177 taking the stage.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

8:09:48PM

BRENT

61.72

61.37

59.655

57.94

65.75

65.75

66.515

68.23

63

Success

8:12:25PM

GOLD

1305.85

               

Success

8:14:08PM

FTSE

7150.43

               

Success

8:16:41PM

FRANCE

5201.5

               

Success

8:19:51PM

GERMANY

11710

11659

11626

11524

11844

11832

11891

11971

11670

Success

8:22:03PM

US500

2813.43

               

Success

8:25:36PM

DOW

24806

               

Success

8:27:46PM

NASDAQ

7134

               

Success

8:31:22PM

JAPAN

20428

               

Success

 

31/05/2019 FTSE Closed at 7161 points. Change of -0.79%. Total value traded through LSE was: £ 6,275,892,919 a change of 35.09%

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