#Brent #Dax As we enter September, it appears, finally, some good news may be coming. #Natwest share price has achieved the unthinkable, finally managing to close a session above the downtrend (see inset on chart) since last year. That’s the end of the good news as, in these pandemic days, we’re tending to distrust anything as straightforward as a line on a chart! A misplaced comment, an untidy cough, or a twitter storm seems sufficient to damage logic.
At present, we calculate Natwest as requiring to trade above 117.5p to signal a possibility of relief as this works out with an initial target of 124p with secondary, if exceeded, a visually pleasing 135p. Only with closure above 135p shall we feel justified in believing some true recovery has commenced, perhaps even the first grasp on a cliff face which can take the share price toward the 200p level. Unfortunately, when we review the pace of descent in the last year, any true price recovery is going to take some sort of miracle.
If things intend go wrong for Natwest, trades below 109p in the coming week risk ringing alarm bells as reversal to 101p (again) makes a lot of sense. Worse still, should 101p break, our secondary is now at 90p, risking taking the share through a trapdoor to around the 50p level eventually.
In normal times, we’d be pretty relaxed and promoting the possibility of some recovery but unfortunately, times are not normal and it’s impossible to forget Natwest (aka RBS) remains flirting with the all time low price level achieved in March 2009. The unpleasant reality generates a reminder of the market truism; “If it ain’t going up, it’s going down.”
FUTURES
| Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| BRENT | 45.62 | 45.25 | 45.095 | 44.62 | 45.78 | 46.58 | 46.95 | 47.58 | 45.63 | |
| GOLD | 1967 | |||||||||
| FTSE | 5987 | |||||||||
| FRANCE | 4940 | |||||||||
| GERMANY | 12938 | 12902 | 12887 | 12798 | 12993 | 13098 | 13124 | 13198 | 12955 | |
| US500 | 3495.57 | |||||||||
| DOW | 28416 | |||||||||
| NASDAQ | 12107 | |||||||||
| JAPAN | 23053 |
28/08/2020 FTSE Closed at 5963 points. Change of -0.6%. Total value traded through LSE was: £ 4,873,414,475 a change of 40.53%
27/08/2020 FTSE Closed at 5999 points. Change of -0.73%. Total value traded through LSE was: £ 3,467,869,882 a change of -4.16%
26/08/2020 FTSE Closed at 6043 points. Change of 0.1%. Total value traded through LSE was: £ 3,618,462,432 a change of 3.2%
25/08/2020 FTSE Closed at 6037 points. Change of -1.1%. Total value traded through LSE was: £ 3,506,401,056 a change of 13.29%
24/08/2020 FTSE Closed at 6104 points. Change of 1.72%. Total value traded through LSE was: £ 3,095,099,740 a change of -18.48%
21/08/2020 FTSE Closed at 6001 points. Change of -0.2%. Total value traded through LSE was: £ 3,796,928,950 a change of -1.91%
20/08/2020 FTSE Closed at 6013 points. Change of -1.6%. Total value traded through LSE was: £ 3,870,716,769 a change of 8.2%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
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