#Brent #Dax Since March, Natwest share price has been about as interesting as this years Top Gear series on BBC. Doubtless thanks to Covid, three generally entertaining presenters appeared to lose their way as the series continued, their short season completing with a pretty predictable episode. Should they have even bothered as the effort tended make the franchise less interesting.
Similarly, retail bank shares have spent the last 6 months, giving the impression of “nothing happening here, move along” and while we hope for some recovery, the prospects feel increasingly unlikely. Natwest share price, despite fulfilling our gain scenario to 124p in our previous report, has a price movement chart which shows a considerable lack of confidence since the pandemic took hold.
The immediate problem is fairly straightforward, thanks to the visuals implying some sort of glass ceiling awaits, almost regardless of any near term gains. At present, above 125p now suggests the possibility of price recovery to an initial 134p. If exceeded, our secondary ambition calculates at 140.5p and this is where an issue awaits. Since March, Natwest share price has made two attempts at the 140 level and we shall not be aghast if any future attempt falters at such a price. Only with closure above 140.5p shall it feel like an attempt to break free from the doldrums is upon up, launching the banks share price into a region where a longer term 191p is allegedly believable!
If trouble is planned, weakness next below 101p shall be controversial, taking the share into a zone where reversal to 90p becomes possible with secondary, if broken, at a bottom of 60p. Early warning of trauma will be reversals below Red, presently around 113p.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 1:11:07PM | BRENT | 37.91 | 37.36 | 36.95 | 36.39 | 38.1 | 38.7 | 39.07 | 39.59 | 37.7 | |
| 1:14:33PM | GOLD | 1879 | ‘cess | ||||||||
| 1:18:38PM | FTSE | 5603 | |||||||||
| 1:23:22PM | FRANCE | 4624 | Shambles | ||||||||
| 1:43:12PM | GERMANY | 11628 | 11326 | 11262 | 11134 | 11452 | 11646 | 11717.5 | 11848 | 11524 | Success |
| 1:52:48PM | US500 | 3285 | ‘cess | ||||||||
| 1:55:28PM | DOW | 26615 | Success | ||||||||
| 2:03:08PM | NASDAQ | 11099 | Success | ||||||||
| 2:06:58PM | JAPAN | 23181 | Success |