#FTSE #Gold Historically, we distrust Bitcoin but visually, we’re on the edge of suspecting it intends an “amusing” strategy anytime soon, due to some recent price movements. Since April, the price of the imaginary currency has been paying homage to the downtrend since 2021 and often, this sort of thing will often exhibit a typical end game. Which can be risky!
When a price becomes devoted to a trend line, matters will often conclude with a sharp ‘surprise and irrational’ movement and in the case of Bitcoin, we shall not be aghast if it suddenly discovers an excuse to decline below 25800 dollars to an immediate 25330 with secondary, if this initial breaks, at around 24800 dollars and hopefully a proper bounce. The interesting thing comes, if any bounce exceeds Blue on the chart, we’d hope for a visit to $30000 with secondary, if bettered, at an eventual 40000 dollars.
The risk element comes as this is clearly a case of trying to catch a falling knife but, in the case of something where price movements appear to be often manipulated, it can prove worth watching for the scenario unfolding.
The FTSE has been misbehaving this week, rarely doing anything which looked sane and now, quite worrying to note, the value has once again sneaked below the Blue downtrend which dates back to 2018. This sort of thing is interesting, making us question whether a new trend is about to spawn as the market feels like it doesn’t have a clue what to do. From a near term perspective, below 7569 risks reversal to a paltry 7555 points with secondary, if broken, at 7500 points.
Below 7500 risks quite a degree of pain as the FTSE enters a cycle where an eventual 7359 calculates as bottom. The tightest stop against this scenario works out 7650 points, wide but given the risk/reward, perfectly logical.
Our alternate scenario, should gains be planned, suggests movement above 7650 should attempt an initial 7680 points with secondary, if exceeded, calculating at a surprising 7755 points! Despite this being the weekend of the exquisitely boring Monte Carlo Grand Prix, we’re inclined toward optimism for the near future, suspecting Friday shall display some FTSE recovery.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:39:13PM | BRENT | 76.04 | 75.6 | 74.44 | 76.25 | 78.38 | 78.68 | 77.09 | Success | ||
| 9:40:55PM | GOLD | 1940.74 | 1938 | 1934 | 1954 | 1964 | 1974 | 1954 | ‘cess | ||
| 9:45:22PM | FTSE | 7590.03 | 7558 | 7464 | 7648 | 7636 | 7655 | 7605 | |||
| 9:47:20PM | STOX50 | 4287.9 | 4248 | 4239 | 4273 | 4298 | 4312 | 4268 | |||
| 9:50:18PM | GERMANY | 15836.78 | 15769 | 15668 | 15890 | 15890 | 15935 | 15814 | ‘cess | ||
| 9:52:30PM | US500 | 4152.62 | 4127 | 4111 | 4151 | 4167 | 4181 | 4144 | |||
| 9:55:43PM | DOW | 32753.7 | 32566 | 32254 | 32870 | 32868 | 32941 | 32674 | ‘cess | ||
| 9:57:48PM | NASDAQ | 13949 | 13783 | 13722 | 13847 | 13994 | 14064 | 13881 | Success | ||
| 9:59:52PM | JAPAN | 13063 | 30603 | 30476 | 30903 | 31114 | 31297 | 30856 | ‘cess |
25/05/2023 FTSE Closed at 7570 points. Change of -0.75%. Total value traded through LSE was: £ 4,655,843,667 a change of -31.38%
24/05/2023 FTSE Closed at 7627 points. Change of -1.74%. Total value traded through LSE was: £ 6,784,933,914 a change of 44.14%
23/05/2023 FTSE Closed at 7762 points. Change of -0.1%. Total value traded through LSE was: £ 4,707,065,644 a change of -36.1%
22/05/2023 FTSE Closed at 7770 points. Change of 0.18%. Total value traded through LSE was: £ 7,366,100,317 a change of 37.01%
19/05/2023 FTSE Closed at 7756 points. Change of 0.18%. Total value traded through LSE was: £ 5,376,481,422 a change of -9.9%
18/05/2023 FTSE Closed at 7742 points. Change of 0.25%. Total value traded through LSE was: £ 5,967,034,656 a change of 12.56%
17/05/2023 FTSE Closed at 7723 points. Change of -0.36%. Total value traded through LSE was: £ 5,301,388,137 a change of 17.83%
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:AV. Aviva** **LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:GRG Greggs** **LSE:IDS International Distribution** **LSE:ITV ITV** **LSE:MMAG Music Magpie** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:QED Quadrise** **
********
Updated charts published on : Aviva, Empyrean, Fresnillo, Greggs, International Distribution, ITV, Music Magpie, National Glib, Natwest, Quadrise,
LSE:AV. Aviva. Close Mid-Price: 400.1 Percentage Change: + 0.30% Day High: 403.8 Day Low: 394.7
If Aviva experiences continued weakness below 394.7, it will invariably l ……..
</p
View Previous Aviva & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 1.06 Percentage Change: -3.78% Day High: 1 Day Low: 0.9
In the event Empyrean experiences weakness below 0.9 it calculates with a ……..
</p
View Previous Empyrean & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 652.6 Percentage Change: -1.30% Day High: 662.2 Day Low: 652.4
In the event Fresnillo experiences weakness below 652.4 it calculates wit ……..
</p
View Previous Fresnillo & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2658 Percentage Change: + 0.15% Day High: 2678 Day Low: 2600
Weakness on Greggs below 2600 will invariably lead to 2569 with secondary ……..
</p
View Previous Greggs & Big Picture ***
LSE:IDS International Distribution Close Mid-Price: 196.85 Percentage Change: -0.05% Day High: 199.15 Day Low: 191.2
Continued weakness against IDS taking the price below 191.2 calculates as ……..
</p
View Previous International Distribution & Big Picture ***
LSE:ITV ITV Close Mid-Price: 72.44 Percentage Change: -0.44% Day High: 73.04 Day Low: 72.06
Weakness on ITV below 72.06 will invariably lead to 71 with secondary (if ……..
</p
View Previous ITV & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 18.5 Percentage Change: -3.90% Day High: 19.25 Day Low: 18.5
Continued weakness against MMAG taking the price below 18.5 calculates as ……..
</p
View Previous Music Magpie & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 1083.5 Percentage Change: -1.37% Day High: 1105 Day Low: 1074
In the event National Glib experiences weakness below 1074 it calculates ……..
</p
View Previous National Glib & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 268.3 Percentage Change: + 0.07% Day High: 270.4 Day Low: 266.1
If Natwest experiences continued weakness below 266.1, it will invariably ……..
</p
View Previous Natwest & Big Picture ***
LSE:QED Quadrise Close Mid-Price: 1.05 Percentage Change: -4.95% Day High: 0 Day Low: 0
Weakness on Quadrise below 1.05 will invariably lead to 0.7 and that’s it ……..
</p
View Previous Quadrise & Big Picture ***