Friday FTSE & GOLD for 7/08/2020

#FTSE #GOLD Gold’s behaving like a ramped AIM stock. When we gave our (astoundingly accurate) Gold prediction on 24th June, we anticipated some hesitation around the 2055 level. We did not expect the hesitation to last for just 22 hours and only provoke a 25 dollar reversal before climbing. But that’s what happened, the precious metal again attaining another all time high on Thursday 6th August.

So what’s next, given Gold has managed to exceed our 2055 level? Is the metal about to leap upward to the 3000 dollar level as some remarkably lunatic analysts are predicting. We’re forced to be a little optimistic now as above 2070 now looks capable of a further rise to 2093 dollars. If bettered, secondary calculates at 2165 dollars but overall, we’re forced to admit 2299 dollars works out as the next major point of interest, a price level where “normal rules” again mandate some volatility should be expected.

If it all intends go wrong, the earliest warning signal looks like the yellow stuff trading below 2028 dollars as this allows reversal to an immediate 2016 with secondary, when broken, calculating at 1995 dollars. To be blunt, if this occurs, it could also tumble to 1956 with painful speed as the price attempts to mimic what happens to over-enthusiastic AIM shares.

For the present, the Big Picture is being quite serious, suggesting the 2300 level should be treated with respect. It’s a “Higher High” thing!

Hey, chart goes here

 

FTSE for FRIDAY Another weekend, another Grand Prix. Hopefully less boring than last weeks insipid Silverstone, a race which stored all the excitement until the final lap, when Louis Hamilton proved why he’s world champion! The climactic ending, unfortunately, did follow the script for the childrens cartoon “Cars”!

Also following a script is the UK stock market. Unfortunately, it’s possible the script is in a language no-one can read as the market is producing some incredibly illogical movements presently. The low this week of 5856 points actually did make a lot of sense but what’s occurred since is rather confusing.

Near term, if the index makes it below 5980 points, we’re calculating a visit to 5924 is expected with secondary, if broken, at 5853 points

This secondary is troublesome, slightly below Mondays dip and presenting the risk of negative news driving the UK index down to 5630 or lower. Visually, the tightest stop is at 6,080 points.

 

The other side of the coin speculates what’s possible, should the FTSE manage to claw its way above 6045 points. Apparently we can calculate an initial ambition at 6083 points with secondary, if exceeded, up at 6158 points. If triggered, the tightest stop looks like 5978 points.

 

Have a good weekend.

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
10:46:50PM BRENT 45.24 44.94 44.47 45.65 45.8 45.99 45.1
10:48:28PM GOLD 2063.17 2049 2043 2061 2067 2068.5 2059
10:51:05PM FTSE 6057.43 6008 5978 6060 6060 6079 6027 ‘cess
10:54:03PM FRANCE 4910 4858 4826.5 4898 4919 4936 4884 Success
10:55:55PM GERMANY 12660.61 12573 12537.5 12673 12683 12750.5 12614 Shambles
10:58:24PM US500 3350.42 3306 3298 3332 3352 3364 3316 ‘cess
11:00:59PM DOW 27371 27143 27045 27300 27403 27438.5 27270 ‘cess
11:03:58PM NASDAQ 11264 11062 10996 11162 11284 11411.5 11092 Shambles
11:06:25PM JAPAN 22424 22280 22188.5 22410 22475 22537.5 22311 ‘cess

 

6/08/2020 FTSE Closed at 6026 points. Change of -1.28%. Total value traded through LSE was: £ 4,266,025,733 a change of -25.48%
5/08/2020 FTSE Closed at 6104 points. Change of 1.13%. Total value traded through LSE was: £ 5,724,834,824 a change of 13.25%
4/08/2020 FTSE Closed at 6036 points. Change of 0.07%. Total value traded through LSE was: £ 5,055,051,224 a change of 18.31%
3/08/2020 FTSE Closed at 6032 points. Change of 2.29%. Total value traded through LSE was: £ 4,272,722,908 a change of -22.49%
31/07/2020 FTSE Closed at 5897 points. Change of -1.54%. Total value traded through LSE was: £ 5,512,609,995 a change of 17.63%
30/07/2020 FTSE Closed at 5989 points. Change of -2.32%. Total value traded through LSE was: £ 4,686,446,061 a change of 8.2%
29/07/2020 FTSE Closed at 6131 points. Change of 0.03%. Total value traded through LSE was: £ 4,331,168,852 a change of 8.86%

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