FTSE for FRIDAY & France too 3/07/2020

#FTSE #Gold It’s easy to be irritated at the pace of FTSE recovery, especially compared with the US, most of Europe and the rest of the world. Perhaps it’s an inverse relationship to death rates. Even Brazils bounce from the initial Covid-19 low has outstripped UK performance. France, however, looks a bit problematic, tending to echo the UK’s lacklustre performance.

What’s interesting us about France is the presence of an important trigger level at 5195 points. If this market manages to close a session above such a level, some quite strong recovery can be mapped to an initial 5390 with secondary, if bettered, working out at 5715 points. Despite the CAC40 trading at 5049 (at time of writing), there appears sufficient reason to hope something is changing.

For France, near term moves above 5072 suggest the potential of recovery to an initial 5175 points with secondary, if bettered, at 5246 points. Theoretically, this should propel the index within reach of the 5195 trigger level.

Hey, chart goes here

As for the FTSE, the important level the UK index requires better at attain “safety” is at 6750 points. Alas, we’re experiencing some difficulty finding sufficient logic capable of exceeding this level. We can calculate fairly close to this level but presently cannot invent an argument capable of bringing the UK market above this ideal point, with gains above 6750 promising the Covid-19 drop should be left behind as strong recovery becomes possible.

Near term, above 6262 points should provoke a fairly lame looking 6292 points with secondary, if bettered, a more encouraging 6330 points. Overall, we are supposed to believe the overall attraction shall come from 6385 points. It is interesting to note the Blue downtrend since February has proven more sacrosanct than the border around Leicester.

If triggered, the tightest stop looks like 6198 points.

The alternate scenario threatens of weakness below 6198 generating reversal to 6135 points. If broken, secondary is a slightly scary 6053 points, a move which will hint next week shall be pretty foul on the FTSE.

 

However, from the point at which the index closed Thursday, it feels like Friday should provide some upward entertainment. In addition, the first F1 race of 2020 is scheduled to happen in Austria (behind closed doors) and thus, optimism is permitted.

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
10:03:26PM BRENT 42.79 42 41.56 42.68 43.25 43.52 42.3 ‘cess
10:05:21PM GOLD 1775.79 1757 1751 1775 1780 1783.5 1766 Shambles
10:13:41PM FTSE 6239 6178 6149.5 6229 6263 6279.5 6194 ‘cess
10:15:56PM FRANCE 5027.7 4954 4940 4983 5057 5069.5 5019 Success
10:18:15PM GERMANY 12572 12315 12224.5 12514 12633 12646.25 12462 Success
10:19:51PM US500 3134.82 3111 3104 3140 3156 3177.75 3125 ‘cess
10:22:09PM DOW 25858 25779 25727 25959 26226 26269 25955 Success
10:24:09PM NASDAQ 10361 10289 10248.5 10369 10433 10495 10328 Sorry
10:26:26PM JAPAN 22315 22217 22184 22376 22379 22486.75 22266 Shambles

2/07/2020 FTSE Closed at 6240 points. Change of 1.35%. Total value traded through LSE was: £ 5,146,759,435 a change of -4.07%
1/07/2020 FTSE Closed at 6157 points. Change of -0.19%. Total value traded through LSE was: £ 5,364,963,061 a change of 0.93%
30/06/2020 FTSE Closed at 6169 points. Change of -1.15%. Total value traded through LSE was: £ 5,315,656,653 a change of 10.43%
29/06/2020 FTSE Closed at 6241 points. Change of 1.33%. Total value traded through LSE was: £ 4,813,785,764 a change of 2.33%
26/06/2020 FTSE Closed at 6159 points. Change of 0.2%. Total value traded through LSE was: £ 4,704,232,985 a change of 0.38%
25/06/2020 FTSE Closed at 6147 points. Change of 0.39%. Total value traded through LSE was: £ 4,686,605,937 a change of -15.87%
24/06/2020 FTSE Closed at 6123 points. Change of -3.12%. Total value traded through LSE was: £ 5,570,618,425 a change of 6.1%

This post has already been read 154 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.