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.
|
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 |