#Brent #Germany It was strange, celebrating the 1st of July by turning the heating on. Here in Argyll, we’d experienced May & June with temperatures in the unpleasant 20’s. It’s no great secret the Scottish summer takes place during these months but when the temperature dipped below 10c on 1st July, radiators started singing their groaning song at being used unexpectedly. Traditionally, we experience a slow downward gradient in temperature misery, expecting September or October to herald the time for heating but this year, things are quite different. Utter confusion also came from another source, the so called Grand Prix in Austria.
Everyone knows how a motor race works. The lights go out, cars drive like the clappers, someone waves a flag and it’s all over. Just for a giggle, the organisation behind Formula 1 decided to shake things up a bit, using what sounds like a corporate committee decision to change the results, after the chequered flag had dropped and drivers had given their media interviews. The problem was a white line and a desire to inflict a 5 second penalty for every car which crossed it. At the point the race finished, there were 1,200 instances needing reviewed, resulting in considerable delays before anyone was willing to say where drivers had actually completed the session.
And finally, in the stakes for further confusion, we can offer up Barclays share price as a candidate.
Without kidding, we’re slowly coming to the conclusion Barclays share intends eventually to find its way down to a bottom around 98p. The price consistently refuses to head upward and also, refuses to gently spiral downward. Instead, the market feels like an effort is being made to contain the share price between the uptrend (Red) since 2020 and the downtrend (Blue) since a silly sounding 2007. Don’t get us wrong, this Blue downtrend is clearly giving the market a 16 year old reason to react, despite any available logic justifying such behaviour. As we illustrated recently, the UK stock market (worst performing of the majors) has seen many shares trapped, doing very little.
If this is indeed the case, traditional behaviour will be for trapped shares to experience sudden reversals and in the case of Barclays, a sharp plummet down to 98p will make an ideal point for the share price to discover the presence of a trampoline. As a result, it may prove worthwhile to keep a weather eye on the share, just in case something awful occurs which is deemed capable of justifying a 1/3rd being carved off Barclays current share price. We’re the first to concede it’s a ridiculous expectation but, the market is behaving in a ridiculous fashion.
If we treat the share as “conventional”, we can now suggest weakness below 141p should make an attempt at 132p with secondary, if broken, at 114p. Such a scenario obviously will take the share within kicking distance of our proposed bottom at 98p, so perhaps there is justification for a movement like this.
Should the price decide to give hope to investors, above Blue (presently 163p) is expected to trigger recovery to an initial 168p with secondary, if exceeded, a rather more attractive 198p. In this scenario, we’ll obviously need review the potentials but we shall treat such a level of recovery as significant for the longer term.
For now, we regard Barclays with similar trust to that deserved by the Weather and Formula 1 races.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 1:43:06PM | BRENT | 75.13 | 74.29 | 73.86 | 73.21 | 75.18 | 75.8 | 76.38 | 77.89 | 74.74 |
| 1:45:32PM | GOLD | 1919.37 | 1915 | |||||||
| 5:00:35PM | FTSE | 7549 | 7523 | |||||||
| 5:02:33PM | STOX50 | 4412.3 | 4390 | |||||||
| 9:04:01PM | GERMANY | 16184.4 | 16113 | 16095 | 16065 | 16143 | 16185 | 16229 | 16304 | 16107 |
| 9:06:27PM | US500 | 4443.8 | 4435 | |||||||
| 9:09:48PM | DOW | 34378 | 34359 | |||||||
| 9:12:21PM | NASDAQ | 15155.1 | 15123 | |||||||
| 9:15:00PM | JAPAN | 33420 | 33418 |
30/06/2023 FTSE Closed at 7531 points. Change of 0.8%. Total value traded through LSE was: £ 5,224,612,707 a change of -11.43%
29/06/2023 FTSE Closed at 7471 points. Change of -0.39%. Total value traded through LSE was: £ 5,898,729,234 a change of 13.7%
28/06/2023 FTSE Closed at 7500 points. Change of 0.52%. Total value traded through LSE was: £ 5,188,003,612 a change of 2.29%
27/06/2023 FTSE Closed at 7461 points. Change of 0.11%. Total value traded through LSE was: £ 5,071,918,393 a change of 6.71%
26/06/2023 FTSE Closed at 7453 points. Change of -0.11%. Total value traded through LSE was: £ 4,753,007,649 a change of 17.78%
23/06/2023 FTSE Closed at 7461 points. Change of -0.55%. Total value traded through LSE was: £ 4,035,557,775 a change of -15.52%
22/06/2023 FTSE Closed at 7502 points. Change of -0.75%. Total value traded through LSE was: £ 4,777,191,347 a change of 6.91% 
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:CASP Caspian** **LSE:CCL Carnival** **LSE:CNA Centrica** **LSE:HSBA HSBC** **LSE:SPT Spirent Comms** **
********
Updated charts published on : Caspian, Carnival, Centrica, HSBC, Spirent Comms,
LSE:CASP Caspian Close Mid-Price: 3.4 Percentage Change: -15.00% Day High: 3.5 Day Low: 2.6
Target met. If Caspian experiences continued weakness below 2.6, it will ……..
</p
View Previous Caspian & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1300.5 Percentage Change: + 5.90% Day High: 1319 Day Low: 1232
Target met. All Carnival needs are mid-price trades ABOVE 1319 to improve ……..
</p
View Previous Carnival & Big Picture ***
LSE:CNA Centrica. Close Mid-Price: 123.95 Percentage Change: + 3.25% Day High: 124.5 Day Low: 119.95
Target met. All Centrica needs are mid-price trades ABOVE 124.5 to improv ……..
</p
View Previous Centrica & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 621.7 Percentage Change: + 0.47% Day High: 625.7 Day Low: 615.9
Further movement against HSBC ABOVE 625.7 should improve acceleration tow ……..
</p
View Previous HSBC & Big Picture ***
LSE:SPT Spirent Comms. Close Mid-Price: 163.6 Percentage Change: + 0.55% Day High: 165.4 Day Low: 161.8
Weakness on Spirent Comms below 161.8 will invariably lead to 158 with se ……..
</p
View Previous Spirent Comms & Big Picture ***