It appears Friday wants to be another down day on the #FTSE. If this happens, it will make the 3rd depressing Friday in a row, almost like the market is bored of leadership nonsense, Brexit nonsense and Trump nonsense too. #DOW #GOLD Of course, it’s probably the annual pre-August slump along with the “holiday” monsoon season in Scotland.
The market has certainly broken though the immediate uptrend, flirting provocatively with the RED uptrend but carefully avoiding regaining the trend. This alone should suggest some sort of slump is ahead. It has resulted in the situation where weakness now below 7482 should expect some reversal in the near term down to an initial 7455 points. If broken, our secondary calculates at 7395 points.
The visuals suggest, quite strongly, if 7395 does make an appearance, some sort of rebound should be expected as the market appeared to find this level fascinating for much of June. It’s pretty hard to express any timeframe for 7395 appearing, thanks to market movements recently tending to be in baby steps. The funny thing tho’, if 7395 were to break for any reason, a further fall to 7175 looks like it should be quite fast, so perhaps Boris is polishing an acceptance speech which proposes England subjugates Calais to streamline customs movements!
If the drop cycle gets underway, the FTSE will need exceed 7535 to cancel immediate drop potentials, giving a relatively tight stop loss against a potential 300+ point droop!
What if 7535 is exceeded?
Apparently we are to expect recovery to an initial 7551 points. If bettered, secondary is a longer term 7602 points.
Have a good weekend.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:48:02PM |
BRENT |
62.34 |
61.04 |
60.73 |
62.35 |
62.68 |
62.975 |
61.37 |
Success | ||
10:50:04PM |
GOLD |
1446.65 |
1419 |
1413.5 |
1429 |
1448 |
1456.75 |
1425 |
Success | ||
10:52:27PM |
FTSE |
7507 |
7478 |
7433 |
7521 |
7521 |
7536.5 |
7480 |
‘cess | ||
10:54:32PM |
FRANCE |
5556.5 |
5552 |
5543.5 |
5575 |
5585 |
5596.5 |
5555 |
‘cess | ||
10:56:42PM |
GERMANY |
12269 |
12231 |
12214 |
12278 |
12302 |
12339.5 |
12215 |
‘cess | ||
10:58:47PM |
US500 |
3001.11 |
2980 |
2974 |
2998 |
3002 |
3012 |
2979 |
‘cess | ||
11:02:32PM |
DOW |
27296 |
27169 |
27152 |
27232 |
27309 |
27322 |
27170 |
Success | ||
11:04:49PM |
NASDAQ |
7934 |
7847 |
7818.5 |
7900 |
7947 |
7981.5 |
7880 |
‘cess | ||
11:07:40PM |
JAPAN |
21193 |
21052 |
20989 |
21310 |
21200 |
21278.5 |
21050 |
‘cess |
18/07/2019 FTSE Closed at 7493 points. Change of -0.56%. Total value traded through LSE was: £ 5,583,341,954 a change of 1.09%
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