#FTSE #Gold The worldwide price of Gold has shot up, doubtless in anticipation of bits of this weekends Cinderella coaches falling off and needing replaced, due to their rare outing on London’s potholed roads. Such conspicuous golden opulence, against the backdrop of a country with Food Banks and a cost of living crisis, feels like a PR disaster slowly unfolding.
However, all kidding aside, the price of Gold looks destined to continue experiencing gains, the immediate downtrend since March of 2022 sitting at 2046 US dollars. With the price managing to close sessions above this trend, with a degree of care, over the last two sessions, our inclination is to anticipate further increases despite already achieving all time highs.
Above 2062 dollars now looks capable of triggering a further lift to 2127 dollars with secondary, if bettered, at a less likely 2182 sometime in the future.
If things intend go wrong, the price needs below $1966 to slip into a zone which promotes the threat of reversal to $1883 with secondary an eventual bottom of $1808.
Our expectation is to see $2127 as the next major point of interest.
FTSE for Friday. The low on Thursday at 7691 points has the potential of providing a bottom for the FTSE but, given the behaviour of the US markets, we’re not entirely convinced this shall prove to be the case. Wall St managed to close its session in a position which threatens a further 900 point fall and it’s unlikely Europe will escape the trauma being inflicted by US banks dropping off the radar.
The immediate situation suggests weakness on the FTSE below 7691 should trigger reversal down to 7647 next, hopefully a price level which generates a realistic bounce. If such a level breaks, our secondary works out at a scary looking 7576 points, a lower low for the FTSE and a price level where our longer term influence calculates down at 7364 points.
But, it’s a Grand Prix weekend, one which offers the chance for some slight optimism.
The FTSE needs exceed 7770 points, hopefully provoking a gain toward an initial 7793 with our secondary, if this initial is exceeded, calculating at a potential 7862 points. This secondary is significant for the longer term as should the market exceed it, we shall regard this as confirmation of our long term attraction above 8200 points.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:28:38PM | BRENT | 72.42 | 71.4 | 70.585 | 72.9 | 73.69 | 74.48 | 72.73 | |||
| 9:30:30PM | GOLD | 2050.87 | 2030 | 2017 | 2045 | 2060 | 2069 | 2042 | ‘cess | ||
| 9:34:31PM | FTSE | 7724.37 | 7688 | 7628 | 7744 | 7757 | 7772 | 7734 | |||
| 9:36:27PM | STOX50 | 4292.8 | 4258 | 4245 | 4283 | 4301 | 4315 | 4275 | ‘cess | ||
| 9:39:57PM | GERMANY | 15759 | 15647 | 15580 | 15728 | 15829 | 15857 | 15777 | ‘cess | ||
| 9:42:52PM | US500 | 4063.27 | 4047 | 4040 | 4067 | 4103 | 4123 | 4083 | ‘cess | ||
| 10:05:40PM | DOW | 33121.5 | 32917 | 32721 | 33222 | 33483 | 33631 | 33282 | Success | ||
| 10:08:13PM | NASDAQ | 12991.32 | 12941 | 12908 | 13029 | 13109 | 13137 | 13068 | ‘cess | ||
| 10:10:02PM | JAPAN | 28597 | 28544 | 28443 | 28698 | 28781 | 28823 | 28661 |
4/05/2023 FTSE Closed at 7702 points. Change of -1.1%. Total value traded through LSE was: £ 5,460,672,178 a change of 8.08%
3/05/2023 FTSE Closed at 7788 points. Change of 0.19%. Total value traded through LSE was: £ 5,052,417,233 a change of -36.96%
2/05/2023 FTSE Closed at 7773 points. Change of -1.23%. Total value traded through LSE was: £ 8,014,658,915 a change of 6.5%
1/05/2023 FTSE Closed at 7870 points. Change of 0%. Total value traded through LSE was: £ 7,525,342,837 a change of 5.53%
28/04/2023 FTSE Closed at 7870 points. Change of 0.5%. Total value traded through LSE was: £ 7,130,992,980 a change of 35.22%
27/04/2023 FTSE Closed at 7831 points. Change of -0.27%. Total value traded through LSE was: £ 5,273,731,128 a change of -19.3%
26/04/2023 FTSE Closed at 7852 points. Change of -0.49%. Total value traded through LSE was: £ 6,534,580,339 a change of 22.98%
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:AML Aston Martin** **LSE:ASC Asos** **LSE:FGP Firstgroup** **LSE:IQE IQE** **LSE:ITV ITV** **LSE:RKH Rockhopper** **LSE:TLW Tullow** **
********
Updated charts published on : Aston Martin, Asos, Firstgroup, IQE, ITV, Rockhopper, Tullow,
LSE:AML Aston Martin. Close Mid-Price: 217 Percentage Change: + 0.93% Day High: 224 Day Low: 208
Weakness on Aston Martin below 208 will invariably lead to 188p next with ……..
</p
View Previous Aston Martin & Big Picture ***
LSE:ASC Asos Close Mid-Price: 684.2 Percentage Change: -7.21% Day High: 743.2 Day Low: 676
Continued weakness against ASC taking the price below 676 calculates as l ……..
</p
View Previous Asos & Big Picture ***
LSE:FGP Firstgroup. Close Mid-Price: 120.3 Percentage Change: + 1.35% Day High: 122.2 Day Low: 110.5
Continued trades against FGP with a mid-price ABOVE 122.2 should improve ……..
</p
View Previous Firstgroup & Big Picture ***
LSE:IQE IQE Close Mid-Price: 24.35 Percentage Change: -1.22% Day High: 24.65 Day Low: 23.9
Weakness on IQE below 23.9 will invariably lead to 19 with secondary, if ……..
</p
View Previous IQE & Big Picture ***
LSE:ITV ITV Close Mid-Price: 77.26 Percentage Change: -0.72% Day High: 78.22 Day Low: 76
In the event ITV experiences weakness below 76 it calculates with a drop ……..
</p
View Previous ITV & Big Picture ***
LSE:RKH Rockhopper Close Mid-Price: 13.6 Percentage Change: -1.81% Day High: 14.75 Day Low: 13.5
Further movement against Rockhopper ABOVE 14.75 should improve accelerati ……..
</p
View Previous Rockhopper & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 25.58 Percentage Change: -2.59% Day High: 26.56 Day Low: 25.44
Continued weakness against TLW taking the price below 25.44 calculates as ……..
</p
View Previous Tullow & Big Picture ***