Barclays for 21/11/2019

#DOW #CAC40 Once a month we review the retail banks, once a month we report sod all is really happening (link). It’s like trying to find something new to write about Brexit, a subject already flogged to death but like all good masochists, we shall try once again to make sense of Barclays and the future.

The immediate problem we face with this has been a lack of proper recovery. Our last review speculated on movement from 154 to 161 to 177p and the best the share achieved was just below 174p where it fizzled like a cheap firework. While we can now report movement above 174p should bring a confident looking 179p, the longer term secondary calculation of 187 looks considerably less likely. In fact, it becomes easy to calculate a distant 204 as viable, if any of this scenario comes to fruition.

Of course, there’s an additional problem. The ruling downtrend (Blue) is presently at 177.173p and the market has carefully respected this line since July 2015. This level of homage tends make is suspect the share price shall remain trapped until such time the UK’s future appears settled, a subject of considerable doubt at present.

If the markets intention is to keep Barclays “trapped” until a route to the future appears, we shall not be aghast if weakness now below 164 forces reversal to 159 with secondary, when broken, at 154 and hopefully a rebound.

For Barclays to get into serious trouble, the share price now needs break below Red, presently at 136p. Such a calamity looks capable of driving 126p, a short term bounce, then a further trip down to 110p and hopefully a real bounce.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:39:54PM	BRENT	61.84									‘cess
10:27:57PM	GOLD	1472.19									‘cess
10:30:03PM	FTSE	7250.68									Success
10:32:25PM	FRANCE	5877.2	5857	5848.5	5823	5914	5914	5925.5	5948	5870	‘cess
10:34:16PM	GERMANY	13116.27									‘cess
10:41:48PM	US500	3101.62									Success
10:43:49PM	DOW	27753	27667	27610	27488	27902	27905	28000	28109	27795	Success
10:45:33PM	NASDAQ	8264.37									Success
10:47:27PM	JAPAN	23145									‘cess

 

20/11/2019 FTSE Closed at 7262 points. Change of -0.83%. Total value traded through LSE was: £ 6,298,819,044 a change of 17.12%

19/11/2019 FTSE Closed at 7323 points. Change of 0.22%. Total value traded through LSE was: £ 5,378,033,826 a change of -0.49%

18/11/2019 FTSE Closed at 7307 points. Change of 0.07%. Total value traded through LSE was: £ 5,404,777,192 a change of 7.28%

15/11/2019 FTSE Closed at 7302 points. Change of 0.14%. Total value traded through LSE was: £ 5,038,024,383 a change of -3.76%

14/11/2019 FTSE Closed at 7292 points. Change of -0.8%. Total value traded through LSE was: £ 5,234,690,954 a change of -2.01%

13/11/2019 FTSE Closed at 7351 points. Change of -0.19%. Total value traded through LSE was: £ 5,342,219,099 a change of -6.91%

12/11/2019 FTSE Closed at 7365 points. Change of 0.5%. Total value traded through LSE was: £ 5,738,598,465 a change of -2.15%