Barclays for 28/01/2020

#Gold #SP500 Our previous commentary on #Barclays (link) expressed concern, should the share price be gapped below the Blue downtrend on the chart. Unfortunately, thanks to market jitters blamed on a virus from China, the Gap of Doom was inflicted at the open on the 27th, creating a GaGa scenario.

This absurdity allegedly placed Barclays under threat of reversal to 110p eventually!

Thankfully, we have doubts as this little doze of nastiness appeared almost worldwide, as markets attempt to convince traders and investors an apocalypse is coming. We’re pretty far from convinced presently, suspecting quite the opposite to be honest. London would almost be enacting a public service, attempting to convince investors to panic and thus free up some reasonably priced shares, prior to a future rise.

However, we dare not ignore Barclays being pushed below the trend, now residing in an area where weakness next below 169p looks perfectly capable of an initial 163p. If broken, secondary is a visually less comfortable 155p. This level creates a real problem, dumping the share price into a zone where a jittery market or negative news could drive Barclays down to 140p.

If we pretend some optimism, Barclays need only exceed 176p and it feels capable of triggering movement up to 182p initially. If exceeded, secondary comes in at 192p, along with the need to review the share price again.

Hey, chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:13:13PM

BRENT

58.22

               

Success

10:15:47PM

GOLD

1582.81

1576

1573.5

1569

1585

1587

1591.5

1597

1580

‘cess

10:18:33PM

FTSE

7405.88

               

Success

10:21:46PM

FRANCE

5856.5

               

Shambles

10:30:01PM

GERMANY

13203

               

Success

10:33:27PM

US500

3242.87

3233

3210

3184

3270

3270

3282

3298

3240

Success

10:35:52PM

DOW

28532

               

‘cess

10:38:47PM

NASDAQ

8950.87

               

‘cess

10:42:23PM

JAPAN

23052

               

Shambles

27/01/2020 FTSE Closed at 7412 points. Change of -2.28%. Total value traded through LSE was: £ 5,692,912,952 a change of 6.13%

24/01/2020 FTSE Closed at 7585 points. Change of 1.04%. Total value traded through LSE was: £ 5,364,214,029 a change of -0.13%

23/01/2020 FTSE Closed at 7507 points. Change of -0.85%. Total value traded through LSE was: £ 5,371,375,210 a change of -4.17%

22/01/2020 FTSE Closed at 7571 points. Change of -0.51%. Total value traded through LSE was: £ 5,604,978,241 a change of 11.63%

21/01/2020 FTSE Closed at 7610 points. Change of -0.54%. Total value traded through LSE was: £ 5,020,947,785 a change of 18.76%

20/01/2020 FTSE Closed at 7651 points. Change of -0.3%. Total value traded through LSE was: £ 4,227,858,188 a change of -33.49%

17/01/2020 FTSE Closed at 7674 points. Change of 0.85%. Total value traded through LSE was: £ 6,356,734,989 a change of 21.03%

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