#DAX #NASDAQ We’d planned to focus on Brent alone but an email, rather plaintively, asked us to take a quick look at #SThree PLC, essentially a recruitment agency with a bunch of well known brands in its stable. The exercise turned into a prime example of “easily distracted”, thanks to not coming across the share before with the result we decided to feature both shares in this, our Trends and Targets headline section.
SThree , presently trading around 302p, is quite surprising. At first glance, it’s easy to dismiss the share as floundering around but given it’s doing so within an impressive trading range (2 quid to 4 quid) and has been in this hiatus since 2015, it provides a fairly safe haven. Except, of course, for the folk who bought at 4 quid and those who opened a short at £2. The immediate cycle is fairly interesting, allowing us to present a couple of scenario.
In the event the share manages above 333p, it looks capable of triggering further recovery toward an initial 360p, a point at which the share price intercepts the 13 year old Blue downtrend. We’d obviously suspect some hesitation at this level but critically, if the company manages to actually close a day above 360p, there’s a pretty strong argument favouring an upward break in the direction of 453p. This sort of thing is liable to prove game changing for the longer term, thanks to the allure of 649p as a Big Picture ambition.
Alternately, and doubtless less likely if the Covid-19 thing resolves itself, will be the danger implied if the price manages to weaken below 235p for any reason. A movement such is this is liable to prove traumatic, allowing reversal to 177p (again, breaking the rangebound situation) with secondary, if broken, at 100p.
Brent Crude Brent is proving frustrating, thanks to a problem with the numbers. For some considerable time, we’ve been calculating the $50 level as a ‘problem area’ for the price of UK Crude and the barrel price has avoided tampering with this price, movements in December remaining carefully below the $50 mark. When this sort of thing happens, it’s generally quite easy to assume a trigger level exists, one which the market is carefully avoiding.
We suspect this shall prove the case.
Movement next above $50 (or if playing utterly safe, $51.5 thanks to some ambiguous price shuffles) looks very capable of commencing price recovery to an initial $55.88 with secondary, if exceeded, calculating at a more impressive $65.26. The surprising feature with both target levels comes from the proximity of the long term downtrend and uptrend. Achieving $55.88 would certainly challenge the Blue line on the chart. Achieving $65.26 would imply a coming attempt for the barrel price to regain its historical uptrend, a truly amazing feat.
For things to go horribly wrong for Brent Crude, the price needs drip below the $42 level as reversal to the $29 mark looks very possible.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:47:59PM | BRENT | 49.02 | ‘cess | ||||||||
| 9:50:00PM | GOLD | 1839.47 | |||||||||
| 9:55:12PM | FTSE | 6577 | Success | ||||||||
| 9:57:29PM | FRANCE | 5554.4 | ‘cess | ||||||||
| 10:00:03PM | GERMANY | 13345 | 13279 | 13242 | 13171 | 13353 | 13455 | 13483.25 | 13530 | 13363 | Success |
| 10:02:35PM | US500 | 3671.27 | ‘cess | ||||||||
| 10:04:45PM | DOW | 30064 | Shambles | ||||||||
| 10:08:07PM | NASDAQ | 12356 | 12307 | 12235 | 12208 | 12457 | 12510 | 12553 | 12636 | 12413 | Success |
| 10:09:44PM | JAPAN | 26681 | Success |