#FTSE It has been a few months since we last reviewed #Brent_Crude and now, we’ve reason to suspect it needs an update. Not least in our thinking is the Blue downtrend which dates back to 2014. The close up detail is pretty important, tending to highlight the market is perfectly aware of this downtrend. As shown on the chart inset, Brent Crude bubbled up above the trend at the start of May, frothing just above the surface before being driven underground again.
From our perspective, the implication behind this behaviour is straightforward. Next time Brent exceeds the $71 level, it’s going to be difficult to avoid a cycle to an initial $76 with secondary, when exceeded, at a longer term $94. We would anticipate some hesitation, should the $94 level make an appearance.
For everything to go wrong, our alternate scenario suggests weakness below 63 could now start a drip down to a bottom of $50 eventually.
Our inclination is to view price movements in May as an early warning for gains ahead, especially as it’s quite rare for a commodity to present such a clear case for price growth. Seeing how the market chose to react, when the product bettered a 7 year trend, was quite illuminating, tending suggest any gain – if triggered – is liable to be sharp and fast, doubtless with a minimal stop loss requirement. For some reason, the internet on Thursday had a photographic deluge of people in America panic buying petrol, with folk in Florida being quite creative in their choice of container. Quite how they intend to retrieve their fuel from wheelie bins in the back of pick up trucks should prove ‘interesting’.
FTSE for FRIDAY (FTSE:UKX) This week, the FTSE proved as friendly as a visit to a dentist but we’re inclined to hope the reversals have ceased. Certainly, the “surprise” recovery on Thursday for the FTSE, with the market moving from 2.5% down to a negligible 0.6% down by the end of day tended to scream “bottom at 6823 points” and we should now employ blind faith for further market recovery. All kidding aside, this is our expectation but one punctuated by a suspicion there may be another fake drop first. If this proves the case, we’d hope for a bounce around the 6860 level, if only due to the FTSE falling asleep for 2.5 hours at this level during Tuesday.
We’re inclined to place a trigger level at 7010 for any recovery as movement above this level calculates as capable of an initial 7058 points with secondary, if exceeded, at 7139 points. Such movement will tend suggest the last three days were simply an illusion, creating a scenario with an underlying attraction coming from 7496 points, almost precisely the level of the FTSE before Covid-19 coughed all the toys out of the pram. There are quite a few deeper reasons to anticipate FTSE recovery and we feel the main question is the path any recovery shall take. A heck of a lot of major corporates which comprise the FTSE are triggering recovery levels, just failing to move – yet!
Our converse scenario occurs, if the FTSE finds an excuse to slide below 6857 points. Such a movement threatens reversal continuing to an initial 6792. If broken, our secondary calculates down at 6724 and we’d hope for a bounce at such a point.
Google must have emplaced some useful adverts on this page on Thursday. Again, our thanks to those folk who deemed them worth a visit!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:48:34PM | BRENT | 66.94 | 66.37 | 65.66 | 67.27 | 68.46 | 68.815 | 67.97 | Success | ||
| 10:50:22PM | GOLD | 1826 | 1808 | 1803 | 1822 | 1829 | 1833.5 | 1820 | ‘cess | ||
| 10:53:08PM | FTSE | 6979.85 | 6909 | 6879 | 6984 | 6990 | 7038 | 6909 | Success | ||
| 10:54:50PM | FRANCE | 6306.8 | 6270 | 6257 | 6304 | 6317 | 6329 | 6270 | Success | ||
| 10:56:39PM | GERMANY | 15254 | 15138 | 15106 | 15225 | 15271 | 15297 | 15162 | Success | ||
| 10:58:52PM | US500 | 4114 | 4071 | 4044 | 4133 | 4145 | 4174.5 | 4075 | Shambles | ||
| 11:02:24PM | DOW | 34036 | 33772 | 33670 | 34048 | 34183 | 34326.5 | 33933 | ‘cess | ||
| 11:04:28PM | NASDAQ | 13105 | 13007 | 12940 | 13176 | 13236 | 13283.5 | 13007 | Shambles | ||
| 11:06:39PM | JAPAN | 27714 | 27406 | 27304 | 27650 | 27810 | 28010.5 | 27521 | Success |
13/05/2021 FTSE Closed at 6963 points. Change of -0.59%. Total value traded through LSE was: £ 5,503,652,334 a change of -7.78%
12/05/2021 FTSE Closed at 7004 points. Change of 0.82%. Total value traded through LSE was: £ 5,968,278,155 a change of -15.12%
11/05/2021 FTSE Closed at 6947 points. Change of -2.47%. Total value traded through LSE was: £ 7,031,531,361 a change of 14.21%
10/05/2021 FTSE Closed at 7123 points. Change of -0.08%. Total value traded through LSE was: £ 6,156,776,739 a change of 2.81%
7/05/2021 FTSE Closed at 7129 points. Change of 0.75%. Total value traded through LSE was: £ 5,988,474,650 a change of -25.26%
6/05/2021 FTSE Closed at 7076 points. Change of 0.53%. Total value traded through LSE was: £ 8,012,209,382 a change of 24%
5/05/2021 FTSE Closed at 7039 points. Change of -100%. Total value traded through LSE was: £ 6,461,512,143 a change of 0%
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
Click Epic to jump to share: LSE:AFC AFC Energy** **LSE:ASC Asos** **LSE:CAR Carclo** **LSE:CBX Cellular Goods** **LSE:CNA Centrica** **LSE:CPI Capita** **LSE:GENL Genel** **LSE:IAG British Airways** **LSE:IQE IQE** **LSE:ITM ITM Power** **LSE:OPG OPG Power Ventures** **LSE:POLY Polymetal** **LSE:RBD Reabold Resources PLC** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : AFC Energy, Asos, Carclo, Cellular Goods, Centrica, Capita, Genel, British Airways, IQE, ITM Power, OPG Power Ventures, Polymetal, Reabold Resources PLC, Taylor Wimpey,
LSE:AFC AFC Energy. Close Mid-Price: 53.7 Percentage Change: + 0.19% Day High: 54.9 Day Low: 49.3
In the event AFC Energy experiences weakness below 49.3 it calculates wit ……..
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View Previous AFC Energy & Big Picture ***
LSE:ASC Asos Close Mid-Price: 4742 Percentage Change: -2.79% Day High: 4830 Day Low: 4650
If Asos experiences continued weakness below 4650, it will invariably lea ……..
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View Previous Asos & Big Picture ***
LSE:CAR Carclo Close Mid-Price: 66 Percentage Change: -4.07% Day High: 71 Day Low: 65
Further movement against Carclo ABOVE 71 should improve acceleration towa ……..
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View Previous Carclo & Big Picture ***
LSE:CBX Cellular Goods. Close Mid-Price: 7.2 Percentage Change: + 0.00% Day High: 7.35 Day Low: 7.05
In the event Cellular Goods experiences weakness below 7.05 it calculates ……..
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View Previous Cellular Goods & Big Picture ***
LSE:CNA Centrica Close Mid-Price: 54.02 Percentage Change: -1.85% Day High: 54.38 Day Low: 53.42
Imminent weakness below 53.4 points at an initial 51 with secondary a bott ……..
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View Previous Centrica & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 41.33 Percentage Change: + 0.17% Day High: 41.44 Day Low: 39.62
If Capita experiences continued weakness below 39.62, it will invariably ……..
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View Previous Capita & Big Picture ***
LSE:GENL Genel Close Mid-Price: 153.4 Percentage Change: -12.04% Day High: 168.8 Day Low: 152.6
Weakness on Genel below 152.6 will invariably lead to 138 with secondary ……..
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View Previous Genel & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 191.9 Percentage Change: -0.90% Day High: 195.58 Day Low: 185.58
Continued weakness against IAG taking the price below 185.58 calculates a ……..
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View Previous British Airways & Big Picture ***
LSE:IQE IQE Close Mid-Price: 49.3 Percentage Change: -6.27% Day High: 55 Day Low: 46.8
Target met. In the event IQE experiences weakness below 46.8 it calculate ……..
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View Previous IQE & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 332 Percentage Change: -0.18% Day High: 341 Day Low: 307.6
Target met. If ITM Power experiences continued weakness below 307.6, it w ……..
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View Previous ITM Power & Big Picture ***
LSE:OPG OPG Power Ventures. Close Mid-Price: 17.88 Percentage Change: + 0.00% Day High: 17.88 Day Low: 17.88
This is supposed to be heading up, yet failing to do so. There’s now a cle ……..
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View Previous OPG Power Ventures & Big Picture ***
LSE:POLY Polymetal Close Mid-Price: 1578 Percentage Change: -2.02% Day High: 1615 Day Low: 1557
With movement above just 1650, this risks becoming of interest as growth t ……..
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View Previous Polymetal & Big Picture ***
LSE:RBD Reabold Resources PLC Close Mid-Price: 0.65 Percentage Change: -2.99% Day High: 0.68 Day Low: 0.64
Now below 0.55 looks problematic, allowing reversals to an initial 0.38 wi ……..
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View Previous Reabold Resources PLC & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 174 Percentage Change: -0.51% Day High: 175.15 Day Low: 169.75
This almost fell off a little cliff as below 169 now points at 159 with se ……..
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View Previous Taylor Wimpey & Big Picture ***