#Brent #DAX As always, we’re launching the week with a review of last weeks predictions. Unlike politicians, we prefer not to forget things we’d said previously, especially as there is real money involved. As opposed to politicians juggling an entire countries financial future along with their career prospects.
Ferrari is proving a bit of a near term worry. The share price quite cheerfully traded beyond 165, almost touching the 170 level before a slight fallback. Our scenario allows for moves above 165 reaching 188 initially! Our slight concern comes from the share price being Gapped Up on Thursday, then Gapped Down on Friday. If the market intends play a GaGa tune, this should suggest coming weakness to 159 before any further surge upward. The issue comes, if 159 breaks, as it could easily reverse to 153 and a possible future bonk against the RED uptrend. At present, the price requires close below RED at 150p to cancel the prospect of 188 in Ferrari future.
RBS appears to have triggered movement upward toward 234p, reaching the dizzy height of 229p so far. Remarkably, it remains the case of above 234p allowing a longer term stronger rise to 253p. Unfortunately, we still distrust this share and our weasel worded demand, that the price CLOSE above 234p to force a rise to be taken seriously, remains as valid now as it was a week ago.
The retail banks had all been on board for a bit of a thrashing but the continued Brexit delays appear to have placed their share prices in a holding pattern. In plain English, we suspect drops have been delayed but not cancelled. The dangerous number for RBS remains of movement below 212p.
Glencore, while not having vanished down a rabbit hole, show little sign of avoiding such a doom. The share price still requires exceed 300p to get out of trouble though, visually, we’d raise an eyebrow if it even managed stumble above 282p as some sort of glass ceiling appears to be forming. Even above 283p now hints at 312p proving a valid ambition, along with some sort of miracle recovery. We have our doubts.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
1:02:57AM |
BRENT |
64.37 |
62.78 |
62.235 |
61.5 |
63.89 |
64.44 |
64.59 |
65.18 |
63.28 |
Shambles |
1:05:40AM |
GOLD |
1399 |
Success | ||||||||
1:08:06AM |
FTSE |
7566.95 |
Success | ||||||||
1:10:31AM |
FRANCE |
5601.2 |
Success | ||||||||
1:12:20AM |
GERMANY |
12575 |
12519 |
12465.5 |
12402 |
12619 |
12644 |
12680.5 |
12734 |
12551 |
Success |
1:14:39AM |
US500 |
2988.02 |
‘cess | ||||||||
1:17:00AM |
DOW |
26906.7 |
Success | ||||||||
1:18:40AM |
NASDAQ |
7830 |
Success | ||||||||
1:21:03AM |
JAPAN |
21682 |
Success |
5/07/2019 FTSE Closed at 7553 points. Change of -0.66%. Total value traded through LSE was: £ 4,720,799,465 a change of 23.24%
This post has already been read 1206 times!