#DAX #BRENT Will Barclays ever become a Disney Princess? Stranger things have happened. Only today, while standing looking at a depressing pile of logs awaiting the attention of an axe, the writer was anointed with natures favour, finding himself frozen in place with a red squirrel on his shoulder! A couple of the things were squabbling noisily, the argument turning into a chase. Suddenly one changed course, running up my trousers and settling on my shoulder for a few seconds.
Abruptly, with a brief squirrel swearword at its opponent, it leapt onto a tree stump and ran off. The other squirrel just glared down at me.
To be honest, during the encounter, feeling like a Disney Princess was quite far from the mind. Instead terror at the suspicion of being mugged by two Red Squirrel.
As the unexpected squirrel reminded, strange things can happen in real life, so we’re looking (again) for any signal of redemption for Barclays share price. Our previous analysis three weeks ago suggested the potential of reversal to 95 initially with secondary, if broken, at 85p. In the period since, the lowest achieved has been 88p so perhaps this is an indication of implicit strength. To be honest, we’ve considerable doubts about this but we’d prefer examine early warning signs, should Barclays opt to return from the dark side and embrace its inner Disney Princess.
Presently trading around 91p, Barclays needs exceed 99p to promote the possibility of further recovery toward 103.5p. Obviously this is a pretty insignificant movement but above 103.5p will imply any bounce is real, ticking a pretty important box in our criteria. Above 103.5p and we can mention 113p as a fairly solid ambition, perhaps even 128p if positive market conditions prevail.
Unfortunately, this about exhausts our efforts to put a positive spin on things. The situation now exists of weakness below 88p risking triggering reversals to 82p next with secondary, if broken, at a painful bottom of 65p and hopefully a proper rebound. We’re a depressing feeling the share price intends reach 65p eventually.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 1:51:06PM | BRENT | 42.24 | 41.9 | 41.3 | 40.36 | 42.46 | 42.75 | 43.125 | 43.62 | 42 | |
| 1:55:38PM | GOLD | 1862.29 | |||||||||
| 1:59:26PM | FTSE | 5874 | |||||||||
| 2:01:49PM | FRANCE | 4769 | |||||||||
| 2:05:00PM | GERMANY | 12561.93 | 12455 | 12321.5 | 12150 | 12582 | 12588 | 12673.5 | 12786 | 12508 | |
| 2:08:23PM | US500 | 3295 | |||||||||
| 2:12:22PM | DOW | 27146 | |||||||||
| 2:14:38PM | NASDAQ | 11147 | |||||||||
| 2:16:28PM | JAPAN | 23302 |
