#BrentFutures #Dax Here in Argyll, we’re starting to lose our sense of humour with the weather. In the space of a few hours, our entire usual ration of rain for the month caused flooding, landslides, and roads washed out. The miserable weather continued and the temperature dropped, culminating with the first snows of the season. Thankfully, the snow didn’t survive long enough to dust the mountains but it was a sharp reminded how quickly the temperature can switch. The next imminent gift will come with clocks changing, creating the misery of around 17 hours of inconvenient darkness, much worse the further north one goes.
As the saying goes, there’s no such thing as “the wrong weather, only the wrong clothes. It has certainly been a year when choosing the right attire has been challenging, to say the least. A family member, currently in the Middle East, even said she was glad she wasn’t coming home and would miss the winter entirely. And she’s quite literally in a war zone!
Barclays share price movements managed to bring all the misery to the foreground. They’re due to issue an earnings report on 24th October before the markets open and it makes us wonder if we’ve noticed something important. When we reviewed the share three weeks ago, we mentioned our fear the share price faced a “protracted walk down the Blue trend” as the price was failing to enact anything interesting, despite breaking the downtrend in September.
Our fears appear to be realised, the share price showing considerable respect for the trend line and making us wonder if this agony is intended to continue until the day of the earnings report. Should this be the case, the immediate situation calculates with the potential of weakness below 150.5 allowing for reversal to an initial 146.5 with secondary, if broken, at 143.6p and a price level by which it really should bounce. A nice positive earnings report would certainly provide sufficient excuse for the market to allow Barclays a day in the sun.
If we pretend confidence in our scenario, it’s easy to imagine a situation where the market continues to drag Barclays down the trend line like a husband trapped into going shoe shopping with his wife. And suddenly, by 24th October confidence suddenly returns when it’s revealed no-one at Barclays is in communication with Jeffrey Epstein by Ouija board and the market has started a process of forgiving them. As a result, it is easy to calculate an initial bounce target of 169p, an important price level as it would cheerfully take the share price above the glass ceiling which has formed in the lower 160’s.
This should create a situation where some real, longer term recovery becomes a viable ambition with our secondary target of 185p making a lot of visual sense. Hopefully when we revisit the company is three weeks time, we can take a more cheery outlook.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 10:44:48PM | BRENT | 9013.2 | 8777 | 8684 | 8572 | 8880 | 9020 | 9040 | 9204 | 8958 |
| 10:47:07PM | GOLD | 1932.07 | 1927 | |||||||
| 10:48:43PM | FTSE | 7608.8 | 7630 | |||||||
| 8:26:19PM | STOX50 | 4124.8 | 4151 | |||||||
| 8:28:16PM | GERMANY | 15149.4 | 15130 | 15092 | 14930 | 15218 | 15391 | 15431 | 15532 | 15332 |
| 8:56:21PM | US500 | 4321.1 | 4352 | |||||||
| 8:58:19PM | DOW | 33626.5 | 33698 | |||||||
| 9:16:57PM | NASDAQ | 14982 | 14994 | |||||||
| 9:19:50PM | JAPAN | 31883 | 32053 |
13/10/2023 FTSE Closed at 7599 points. Change of -0.59%. Total value traded through LSE was: £ 4,431,270,860 a change of -9.59%
12/10/2023 FTSE Closed at 7644 points. Change of 0.31%. Total value traded through LSE was: £ 4,901,572,931 a change of 12.56%
11/10/2023 FTSE Closed at 7620 points. Change of -0.1%. Total value traded through LSE was: £ 4,354,502,993 a change of -19.19%
10/10/2023 FTSE Closed at 7628 points. Change of 1.82%. Total value traded through LSE was: £ 5,388,462,932 a change of 18%
9/10/2023 FTSE Closed at 7492 points. Change of -0.03%. Total value traded through LSE was: £ 4,566,678,677 a change of -5.8%
6/10/2023 FTSE Closed at 7494 points. Change of 0.58%. Total value traded through LSE was: £ 4,848,110,994 a change of 10.75%
5/10/2023 FTSE Closed at 7451 points. Change of 0.53%. Total value traded through LSE was: £ 4,377,671,479 a change of -22.43%
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:BLVN Bowleven** **LSE:EZJ EasyJet** **LSE:FOXT Foxtons** **LSE:ITV ITV** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **LSE:RKH Rockhopper** **LSE:SPX Spirax** **
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Updated charts published on : Bowleven, EasyJet, Foxtons, ITV, Ocado Plc, Oxford Instruments, Rockhopper, Spirax,
LSE:BLVN Bowleven. Close Mid-Price: 0.7 Percentage Change: + 0.00% Day High: 0.7 Day Low: 0.5
Weakness on Bowleven below 0.5 will invariably lead to 0.47 with secondar ……..
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View Previous Bowleven & Big Picture ***
LSE:EZJ EasyJet Close Mid-Price: 391.2 Percentage Change: -3.72% Day High: 413.4 Day Low: 386.5
Target met. In the event EasyJet experiences weakness below 386.5 it calc ……..
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View Previous EasyJet & Big Picture ***
LSE:FOXT Foxtons Close Mid-Price: 35.95 Percentage Change: -1.78% Day High: 36.5 Day Low: 35
If Foxtons experiences continued weakness below 35, it will invariably le ……..
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View Previous Foxtons & Big Picture ***
LSE:ITV ITV Close Mid-Price: 65.04 Percentage Change: -3.73% Day High: 68.04 Day Low: 64.88
Target met. Weakness on ITV below 64.88 will invariably lead to 63p with ……..
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View Previous ITV & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 530.8 Percentage Change: -7.24% Day High: 567 Day Low: 529.4
Continued weakness against OCDO taking the price below 529.4 calculates a ……..
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View Previous Ocado Plc & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 1920 Percentage Change: + 2.02% Day High: 1930 Day Low: 1864
Weakness on Oxford Instruments below 1864 will invariably lead to 1783p w ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 13.5 Percentage Change: + 3.85% Day High: 13.95 Day Low: 13.95
All Rockhopper needs are mid-price trades ABOVE 13.95 to improve accelera ……..
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View Previous Rockhopper & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 8478 Percentage Change: -4.68% Day High: 8800 Day Low: 8464
Target met. Weakness on Spirax below 8464 will invariably lead to 8440p w ……..
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View Previous Spirax & Big Picture ***