#Brent #Dax It’s that time of the year when we start getting a store of logs ready to burn over winter. The job, obviously, should have been done in May/June but the weather was frankly too hot. And July/August were misplaced, due to adverse reactions to a horse-fly bite. My wife, ever helpful, even bought another chainsaw from the Chinese Temu website, knowing it would “motivate” me to get started on the five trees I felled last Easter. Oh to have the courage to buy her a second vacuum cleaner with this reasoning.
To be fair, she thought her chainsaw purchase was a joke, the cutting blade only 6 inches long and designed to be powered by a cordless drill gun. Unsurprisingly for the £7 price, the gadget didn’t work when assembled so she complained and was immediately given a full refund and told to throw the item away. Of course, this wasn’t going to happen and it was quickly dismantled, discovering a crucial washer hadn’t been fitted. The washer and circlip were lying loose inside the guts of the thing! But once fitted and assembled properly, the little cutting chain was spinning around quite cheerfully while my wife and I glanced around the lounge deciding on what to try it on. When our eyes met with unspoken agreement, it was decided the coffee table, sideboard, tables, would be allowed to remain unscathed, so we rushed outside to the garden. Despite cordless drills being quite slow speed tools, the tiny little chainsaw made short work of an available tree branch, neatly sliced into woodburner segments within moments. If being honest, the job was a lot easier than getting set up with a 30 inch chainsaw and all the paraphernalia which ensues, topping up oil, prepping the correct fuel mix, and finally enjoying the battle to get it started.
There are times when it’s easy to be sore and tired out, just from the process of getting ready to employ a big chainsaw whereas this 6 inch dodgy Chinese purchase could display some very real use. The only thing missing was the presence of a 10 year old grand-daughter as I’ve always teased her that I’d train her to cut trees down. Thankfully, she visited for the weekend, her eyes lighting up at the prospect of joining me in the logging area to chop up a felled Holly tree. Inevitably, she thought “her” chainsaw was a disappointment, expecting to be finally allowed to use the big saw, a machine which probably weighs about the same as her. However, once she watched me using the “joke” chainsaw to lop a branch from the main tree, her attitude changed quite dramatically and within minutes she’d taken another branch off and sliced it into portions for the fire. She was even remembering to dip the small saw chain in an oil bath every few minutes, as chainsaw blades don’t last long without lubrication. As dusk made itself felt on Saturday, she’d to be told to leave the job, as the tree would still be there on Sunday morning. All things considered, we’d never anticipated coming across a “child safe” chainsaw nor thought it would prove sufficient to keep a 10 year olds attention for so long. She didn’t even object to wearing gloves or safety glasses. Once she departed for Edinburgh and I started filling the first for many wheelbarrow trips, I noticed the 6 foot trunk of a large Beech tree now sported damage inflicted by the pretend chainsaw. She’d clearly been experimenting while I wasn’t watching!
Of course, this story is being related, ‘cos it’s difficult to find anything interesting to write about Barclays share price in our three week update. When we previously reviewed the share, we cheerfully warned of several dangers which were imminent, none of which have come to fruition. There was a danger level at 143p and the price, spitefully, managed to close a session at 142.7p and marginally below the trigger. To rub salt into the wound, the next session Barclays closed at 143.04p and it almost felt like the market was mocking us.
However, it was August and expecting nothing rarely leads to disappointment!
With regard to our expectations for Barclays, we still suspect the share is awaiting the right excuse to inflict misery on the market. Weakness now below 142.7p now calculates as capable of provoking reversal down to an initial 126p with secondary, if broken, at 123p and hopefully a proper rebound. From a Big Picture perspective, if the 123p level breaks, there’s a pretty strong argument favouring 116p as being painted with trampoline juice.
Thankfully, we can also produce a converse scenario, now possible due to the care paid to our 143p trigger level. It’s possible the market simply doesn’t want Barclays share price to go down and early “proof” of such an attitude will come should the share exceed 155p as this should now trigger price recovery to an initial 160p. Our longer term secondary, if such a level is bettered, works out at 168p and a movement which could prove game changing for the future. In the event the share price closes above the level of a prior high at 164.5p, it nullifies our expectations for reversal, instead sowing the seeds of a distant growth to the 200p level.
But for now, the plethora of reversal signals remains a distinct worry.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 8:37:20PM | BRENT | 8880.9 | 8688 | 8622 | 8535 | 8736 | 8884 | 8915 | 8929 | 8821 | ‘cess |
| 8:40:12PM | GOLD | 1939.41 | |||||||||
| 8:43:32PM | FTSE | 7485.3 | |||||||||
| 8:46:43PM | STOX50 | 4293.7 | |||||||||
| 9:32:54PM | GERMANY | 15858.9 | 15862 | 15771 | 15680 | 15910 | 15965 | 16021 | 16087 | 15873 | |
| 9:35:33PM | US500 | 4512.7 | Shambles | ||||||||
| 9:46:41PM | DOW | 34836.4 | |||||||||
| 9:50:08PM | NASDAQ | 15483 | |||||||||
| 9:53:40PM | JAPAN | 32769 |
1/09/2023 FTSE Closed at 7464 points. Change of 0.34%. Total value traded through LSE was: £ 4,351,126,417 a change of -43.85%
31/08/2023 FTSE Closed at 7439 points. Change of -0.45%. Total value traded through LSE was: £ 7,748,715,745 a change of 104.69%
30/08/2023 FTSE Closed at 7473 points. Change of 0.11%. Total value traded through LSE was: £ 3,785,593,396 a change of -59.43%
29/08/2023 FTSE Closed at 7465 points. Change of 1.73%. Total value traded through LSE was: £ 9,331,622,622 a change of 194.32%
25/08/2023 FTSE Closed at 7338 points. Change of 0.07%. Total value traded through LSE was: £ 3,170,549,348 a change of -23.12%
24/08/2023 FTSE Closed at 7333 points. Change of 0.18%. Total value traded through LSE was: £ 4,124,022,746 a change of -11.8%
23/08/2023 FTSE Closed at 7320 points. Change of 0.69%. Total value traded through LSE was: £ 4,675,646,982 a change of 18.86%
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:ASC Asos** **LSE:BP. BP PLC** **LSE:CNA Centrica** **LSE:DGE Diageo** **LSE:EME Empyrean** **LSE:RBD Reabold Resources PLC** **LSE:TSCO Tesco** **
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Updated charts published on : Asos, BP PLC, Centrica, Diageo, Empyrean, Reabold Resources PLC, Tesco,
LSE:ASC Asos. Close Mid-Price: 449.8 Percentage Change: + 2.60% Day High: 473.4 Day Low: 436.9
Target met. All Asos needs are mid-price trades ABOVE 473.4 to improve ac ……..
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View Previous Asos & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 500.8 Percentage Change: + 2.73% Day High: 502.6 Day Low: 493.35
If BP PLC experiences continued weakness below 493.35, it will invariably ……..
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View Previous BP PLC & Big Picture ***
LSE:CNA Centrica. Close Mid-Price: 153.55 Percentage Change: + 1.19% Day High: 153.95 Day Low: 152
Further movement against Centrica ABOVE 153.95 should improve acceleratio ……..
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View Previous Centrica & Big Picture ***
LSE:DGE Diageo Close Mid-Price: 3200 Percentage Change: -1.34% Day High: 3246 Day Low: 3203
If Diageo experiences continued weakness below 3203, it will invariably l ……..
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View Previous Diageo & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 0.74 Percentage Change: -1.60% Day High: 0.76 Day Low: 0.7
Target met. In the event Empyrean experiences weakness below 0.7p it calc ……..
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View Previous Empyrean & Big Picture ***
LSE:RBD Reabold Resources PLC Close Mid-Price: 0.09 Percentage Change: -2.70% Day High: 0.09 Day Low: 0.08
Weakness on Reabold Resources PLC below 0.08 will invariably lead to 0.05 ……..
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View Previous Reabold Resources PLC & Big Picture ***
LSE:TSCO Tesco Close Mid-Price: 264.7 Percentage Change: -0.38% Day High: 268.6 Day Low: 264.5
Target met. Further movement against Tesco ABOVE 268.6 should improve acc ……..
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View Previous Tesco & Big Picture ***