#Brent #SP500 The Egyptians, when building pyramids, probably experienced something similar to a personal experience at the weekend. Instead of a pyramid, an idea of building a picnic table from railway sleepers came to fruition, along with the unpleasant reality of being unable to lift the sodding thing. Drawing on the Egyptian model, a broom handle was sliced up to produce a series of wooden rollers, the intention being to place the table top on its side and manoeuvre it to the patio.
Unfortunately, by failing to account for a very slight incline, it transpired the massively heavy table top preferred the attraction of gravity as it rolled downhill, only coming to a grudging halt when it ran out of rollers. But the exercise was otherwise quite amazing, the force of a push from a finger able to move the very, very, heavy structure. Hopefully Barclays share price is about to find itself of rollers as we’re mildly impressed with the impetus since our previous analysis 3 weeks ago.
Our interest relates to current share price behaviour. Barclays followed our recovery scenario, reaching our initial target of 181p and is currently fluttering above and below this target level. Obviously, this is fairly assuring as it tends confirm we’ve been mapping movements using the correct table. It’s what comes next is a bit of a puzzle.
Previously, we speculated with an initial recovery target of 181 with secondary, if bettered, at 190p. With 181p exceeded, the scenario remains valid but there’s a pretty major issue thanks to Barclays share price before Covid-19 hit the fan. The share experience a high of 184p before the price was tossed off a pandemic cliff and now, has successfully closed a session above its pre-pandemic high on several occasions during the past week.
This creates the likely nirvana of “Higher Highs”.
When we review successful movements in other international marketplaces, this type of behaviour has tended indicate good times ahead with the result our calculates potential from 181p to 190p is liable to become a very brief footnote in Barclays price behaviour. Instead, there appears a reasonable chance 190p shall be bypassed completely with the potential of an attempt at 224p instead. Longer term, we can even calculate 289p as presenting a reasonable ambition, something which even makes a degree of visual sense. On the chart, we’ve drawn a dotted line which dates back over 10 years, indicating historically Barclays tends experience a problem around the 289p level. With closure above such, it’d start to feel like the 2009 financial crisis was finally diminishing.
For it all to go wrong for Barclays, the price currently needs slip below roughly 145p but visually (gulp), a degree of optimism appears possible against this UK retail bank. All it needs is the push of a finger, in the right place, at the right time.
Introducing, the railway sleeper ‘Lockdown Table!’
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:43:07PM | BRENT | 64.47 | 61.99 | 60.785 | 59.46 | 63.4 | 64.78 | 65.795 | 67.29 | 63.8 | |
| 9:47:05AM | GOLD | 1745 | ‘cess | ||||||||
| 9:49:24AM | FTSE | 6718 | Success | ||||||||
| 9:59:19AM | FRANCE | 6003 | ‘cess | ||||||||
| 11:13:55AM | GERMANY | 14628 | Success | ||||||||
| 11:22:49AM | US500 | 3907.27 | 3896 | 3888 | 3855 | 3930 | 3934 | 3952 | 3974 | 3908 | |
| 11:25:13AM | DOW | 32624 | Success | ||||||||
| 11:29:39AM | NASDAQ | 12848 | ‘cess | ||||||||
| 11:36:47AM | JAPAN | 29457 | Success |
19/03/2021 FTSE Closed at 6708 points. Change of -1.05%. Total value traded through LSE was: £ 14,446,904,194 a change of 140.91%
18/03/2021 FTSE Closed at 6779 points. Change of 0.25%. Total value traded through LSE was: £ 5,996,916,137 a change of -9.18%
17/03/2021 FTSE Closed at 6762 points. Change of -0.6%. Total value traded through LSE was: £ 6,602,740,362 a change of -14.86%
16/03/2021 FTSE Closed at 6803 points. Change of 0.8%. Total value traded through LSE was: £ 7,754,900,384 a change of 34.17%
15/03/2021 FTSE Closed at 6749 points. Change of -0.18%. Total value traded through LSE was: £ 5,779,699,069 a change of 6.67%
12/03/2021 FTSE Closed at 6761 points. Change of 0.37%. Total value traded through LSE was: £ 5,418,064,712 a change of -9.29%
11/03/2021 FTSE Closed at 6736 points. Change of 0.16%. Total value traded through LSE was: £ 5,972,975,685 a change of -1.35%
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…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!
Click Epic to jump to share: LSE:BARC Barclays** **LSE:BT.A British Telecom** **LSE:IGG IG Group** **LSE:ITM ITM Power** **LSE:MRW Morrisons** **LSE:RBD Reabold Resources PLC** **
********
Updated charts published on : Barclays, British Telecom, IG Group, ITM Power, Morrisons, Reabold Resources PLC,
LSE:BARC Barclays Close Mid-Price: 182.6 Percentage Change: -0.65% Day High: 182.94 Day Low: 177.58
In a slight change to the outlook (and probably at odds with the headline ……..
</p
View Previous Barclays & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 145.35 Percentage Change: -3.93% Day High: 155.35 Day Low: 146.4
Further movement against British Telecom ABOVE 155.35 should improve acce ……..
</p
View Previous British Telecom & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 873 Percentage Change: -1.24% Day High: 906 Day Low: 872.5
Target met. All IG Group needs are mid-price trades ABOVE 906 to improve ……..
</p
View Previous IG Group & Big Picture ***
LSE:ITMLSE:ITM ITM Power. Close Mid-Price: 432 Percentage Change: + 0.12% Day High: 438 Day Low: 406.5
In the event ITM Power experiences weakness below 406.5 it calculates wit ……..
</p
View Previous ITM Power & Big Picture ***
LSE:MRWLSE:MRW Morrisons. Close Mid-Price: 180.25 Percentage Change: + 1.44% Day High: 182.5 Day Low: 176.65
Further movement against Morrisons ABOVE 182.5 should improve acceleratio ……..
</p
View Previous Morrisons & Big Picture ***
LSE:RBDLSE:RBD Reabold Resources PLC. Close Mid-Price: 0.68 Percentage Change: + 5.38% Day High: 0.7 Day Low: 0.65
All Reabold Resources PLC needs are mid-price trades ABOVE 0.7 to improve ……..
</p
View Previous Reabold Resources PLC & Big Picture ***