Is Brent Crude heading to $122

#CAC40 #WallSt We last reviewed Brent as recently as June, warning of implications should the price manage to bubble above the 75.50 dollar mark. Today, noticing the commodity was again tickling this level, panic ensued with an immediate call to our oil dealer. Here in Argyll, we’ve been turning the heating on in evenings as the weather has sharply deteriorated. As there’s no regulatory body keeping an eye on oil prices, heating oil purchases can become an alarming cost, when world oil markets soar. Our tank is being filled this week, the price thankfully not surging yet.

 

The chart below is a weekly view for Brent Crude and the Blue line dates back to 2012 when Brent hit a high of 130 dollars. The market is clearly showing a lot of respect for this trend line and we’re expecting the worst. As a result, we’ve taken a further look at the tea leaves as the visuals now imply the price need only exceed 78 dollars anytime soon with fireworks possible thereafter. From a near term perspective, there are plenty of arguments suggesting such a movement is very possible.

Above the 78 dollar level now suggests continued travel toward $96 initially. If exceeded, our secondary calculation brings the potential of a high at $122. This will doubtless be great news for those holding shares in oil companies. But folk forced to purchase heating oil will doubtless remember the ‘jaw drop’ prices being asked, last time crude oil surged above 100 dollars.

Hey, chart goes here

Trends and Targets. Past performance is not a reliable indicator of future results.

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FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:56:35PM BRENT 75.07 Success
9:58:25PM GOLD 1794.1
10:00:01PM FTSE 7053.41 Shambles
10:03:01PM FRANCE 6627 6609 6576.5 6543 6630 6628 6622 6670 6609 Success
10:10:03PM GERMANY 15699.32 ‘cess
10:13:49PM US500 4486
10:16:22PM DOW 34852 34577 34524.5 34405 34731 34885 34926 35070 34690 Shambles
10:20:22PM NASDAQ 15511 ‘cess
10:22:54PM JAPAN 30611

 

15/09/2021 FTSE Closed at 7016 points. Change of -0.26%. Total value traded through LSE was: £ 5,962,830,996 a change of 19.14%
14/09/2021 FTSE Closed at 7034 points. Change of -0.73%. Total value traded through LSE was: £ 5,004,739,047 a change of 6.33%
13/09/2021 FTSE Closed at 7086 points. Change of 0.81%. Total value traded through LSE was: £ 4,706,844,854 a change of 19.18%
10/09/2021 FTSE Closed at 7029 points. Change of 0.07%. Total value traded through LSE was: £ 3,949,508,746 a change of -29.02%
9/09/2021 FTSE Closed at 7024 points. Change of -1%. Total value traded through LSE was: £ 5,564,442,934 a change of 5.99%
8/09/2021 FTSE Closed at 7095 points. Change of -0.76%. Total value traded through LSE was: £ 5,249,791,565 a change of 12.94%
7/09/2021 FTSE Closed at 7149 points. Change of -0.53%. Total value traded through LSE was: £ 4,648,354,855 a change of 42.06%

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:BBY BALFOUR BEATTY** **LSE:BT.A British Telecom** **LSE:DDDD 4D Pharma** **LSE:EZJ EasyJet** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:ITV ITV** **LSE:ODX Omega Diags** **LSE:POLY Polymetal** **LSE:TAN Tanfield** **

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Updated charts published on : AFC Energy, Asos, BALFOUR BEATTY, British Telecom, 4D Pharma, EasyJet, Glencore Xstra, British Airways, ITV, Omega Diags, Polymetal, Tanfield,

LSE:AFC AFC Energy Close Mid-Price: 52.9 Percentage Change: -4.68% Day High: 54.7 Day Low: 51.3

Continued weakness against AFC taking the price below 51.3 calculates as ……..

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View Previous AFC Energy & Big Picture ***

LSE:ASC Asos Close Mid-Price: 3066 Percentage Change: -1.06% Day High: 3141 Day Low: 3066

Continued weakness against ASC taking the price below 3066 calculates as ……..

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</p

View Previous Asos & Big Picture ***

LSE:BBY BALFOUR BEATTY Close Mid-Price: 275.4 Percentage Change: -1.36% Day High: 280 Day Low: 275

If BALFOUR BEATTY experiences continued weakness below 275, it will invar ……..

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View Previous BALFOUR BEATTY & Big Picture ***

LSE:BT.A British Telecom Close Mid-Price: 154.85 Percentage Change: -0.45% Day High: 155.95 Day Low: 152.9

Target met. In the event British Telecom experiences weakness below 152.9 ……..

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</p

View Previous British Telecom & Big Picture ***

LSE:DDDD 4D Pharma Close Mid-Price: 72.6 Percentage Change: -5.84% Day High: 79 Day Low: 71.5

Target met. Continued weakness against DDDD taking the price below 71.5 c ……..

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</p

View Previous 4D Pharma & Big Picture ***

LSE:EZJ EasyJet Close Mid-Price: 566 Percentage Change: -1.60% Day High: 569.8 Day Low: 550.2

Weakness on EasyJet below 550.2 will invariably lead to 506 with secondar ……..

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View Previous EasyJet & Big Picture ***

LSE:GLEN Glencore Xstra. Close Mid-Price: 340.4 Percentage Change: + 1.34% Day High: 342.9 Day Low: 335.35

Further movement against Glencore Xstra ABOVE 342.9 should improve accele ……..

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View Previous Glencore Xstra & Big Picture ***

LSE:IAG British Airways Close Mid-Price: 137.12 Percentage Change: -3.50% Day High: 142 Day Low: 136.64

Target met. In the event British Airways experiences weakness below 136. ……..

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View Previous British Airways & Big Picture ***

LSE:ITV ITV Close Mid-Price: 108.95 Percentage Change: -1.58% Day High: 111.35 Day Low: 108.8

If ITV experiences continued weakness below 108.8, it will invariably lea ……..

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View Previous ITV & Big Picture ***

LSE:ODX Omega Diags Close Mid-Price: 51 Percentage Change: -8.93% Day High: 57 Day Low: 50.5

Now looking slightly risky, weakness below 50 is expected to provoke rever ……..

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View Previous Omega Diags & Big Picture ***

LSE:POLY Polymetal Close Mid-Price: 1344.5 Percentage Change: -1.57% Day High: 1369.5 Day Low: 1346

Weakness on Polymetal below 1346 will invariably lead to 1327 with second ……..

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View Previous Polymetal & Big Picture ***

LSE:TAN Tanfield. Close Mid-Price: 2.87 Percentage Change: + 30.45% Day High: 2.3 Day Low: 2.14

A surprise heartbeat suggests above 3p should next attempt an initial 3.45 ……..

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View Previous Tanfield & Big Picture ***

*** End of “Updated Today” comments on shares.

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