#BrentFuture #WallSt Sometimes it’s worth just zooming out on a chart and giving yourself some time to think about what you are seeing. The price of Gold is currently providing a masterclass in price behaviour and giving plenty of reason to pause for thought, wondering just what the heck is going on.
Every year since 2020, the price of the metal has managed a surge just above 2050 dollars, invariably falling back sharply in horror at the enormity of its task. Curiously, the fall back experienced following this years attempt hasn’t (yet) mirrored the drops of previous years. Traditionally, this should indicate any future lunge upward which betters the previous highs will provide considerable entertainment and in the case of Gold, there’s an implicit suggestion a future $2357 should exert a long term attraction as a future ambition.
Unfortunately, there’s a couple of things worthy of consideration. When we take movements in 2023 into consideration, apparently above $1975 should promote gains to the 2000 dollar level again with our longer term secondary, if bettered, at $2054 eventually. This secondary target is a nuisance, visually matching the three previous highs, once again threatening sufficient reason for reversals due to a perception Gold has declared an invisible glass ceiling just above the 2050 dollar level. Perhaps it shall be the case our calculation of $2357 shall become gold’s Rwanda, something promised but never actually attained.
Near term, we’re a little nervous, especially as far too many Gold price movements from a Big Picture perspective make the metal feel like it’s under a degree of manual control and essentially being manipulated with attempts to stop it heading upward uncontrollably and equally, restrained from dropping too far. The picture of the chart since 2020 tends echo this sentiment as the median value looks like it’s somewhere around 1830 dollars.
Currently, it’s the case below $1932 works out with a reversal ambition to $1873 with our secondary, if broken, calculating down at $1826, almost exactly promising a drop to the median level once again. It’s interesting to note below $1800 theoretically works out as entering a reversal cycle to an eventual $1541. Visually, there’s little about such a target level which would justify such a degree of reversal.
In summary, our suspicion is Gold shall probably be worth a short position, if the $2054 level makes an appearance as the market feels determined to keep Gold under control.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:31:12PM | BRENT | 8072.7 | 8054 | 7998 | 7873 | 8105 | 8221 | 8251 | 8317 | 8124 | ‘cess |
| 9:33:38PM | GOLD | 1959.56 | Shambles | ||||||||
| 9:35:56PM | FTSE | 7477 | Success | ||||||||
| 9:50:46PM | STOX50 | 4303 | |||||||||
| 9:53:04PM | GERMANY | 15723 | ‘cess | ||||||||
| 9:55:23PM | US500 | 4497.3 | |||||||||
| 9:57:49PM | DOW | 34966.2 | 34850 | 34797 | 34711 | 34968 | 35055 | 35064 | 35977 | 34881 | |
| 9:59:59PM | NASDAQ | 15778 | Success | ||||||||
| 10:02:32PM | JAPAN | 33364 | Success |
15/11/2023 FTSE Closed at 7486 points. Change of 0.62%. Total value traded through LSE was: £ 5,809,987,386 a change of 5.78%
14/11/2023 FTSE Closed at 7440 points. Change of 0.2%. Total value traded through LSE was: £ 5,492,695,208 a change of 7.64%
13/11/2023 FTSE Closed at 7425 points. Change of 0.88%. Total value traded through LSE was: £ 5,102,955,229 a change of 1.94%
10/11/2023 FTSE Closed at 7360 points. Change of -1.27%. Total value traded through LSE was: £ 5,005,893,152 a change of 2.35%
9/11/2023 FTSE Closed at 7455 points. Change of 0.73%. Total value traded through LSE was: £ 4,890,859,412 a change of -30.52%
8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
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:BDEV Barrett Devs** **LSE:CPI Capita** **LSE:FGP Firstgroup** **LSE:GRG Greggs** **LSE:IAG British Airways** **LSE:JET Just Eat** **LSE:MKS Marks and Spencer** **LSE:OCDO Ocado Plc** **LSE:PHP Primary Health** **LSE:RR. Rolls Royce** **LSE:SPT Spirent Comms** **LSE:TLW Tullow** **LSE:TRN The Trainline** **LSE:TW. Taylor Wimpey** **
********
Updated charts published on : Aston Martin, Asos, Barrett Devs, Capita, Firstgroup, Greggs, British Airways, Just Eat, Marks and Spencer, Ocado Plc, Primary Health, Rolls Royce, Spirent Comms, Tullow, The Trainline, Taylor Wimpey,
LSE:AML Aston Martin. Close Mid-Price: 224.2 Percentage Change: + 4.18% Day High: 233 Day Low: 219.4
Further movement against Aston Martin ABOVE 233 should improve accelerati ……..
</p
View Previous Aston Martin & Big Picture ***
LSE:ASC Asos. Close Mid-Price: 395.6 Percentage Change: + 0.00% Day High: 409.4 Day Low: 389.6
Continued trades against ASC with a mid-price ABOVE 409.4 should improve ……..
</p
View Previous Asos & Big Picture ***
LSE:BDEV Barrett Devs Close Mid-Price: 472.8 Percentage Change: -0.04% Day High: 485.4 Day Low: 471.3
Target met. All Barrett Devs needs are mid-price trades ABOVE 485.4 to im ……..
</p
View Previous Barrett Devs & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 19.04 Percentage Change: + 0.11% Day High: 19.79 Day Low: 18.72
Target met. All Capita needs are mid-price trades ABOVE 19.79 to improve ……..
</p
View Previous Capita & Big Picture ***
LSE:FGP Firstgroup. Close Mid-Price: 176.3 Percentage Change: + 3.10% Day High: 175.3 Day Low: 171.2
Target met. Continued trades against FGP with a mid-price ABOVE 175.3 sho ……..
</p
View Previous Firstgroup & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2612 Percentage Change: + 0.54% Day High: 2636 Day Low: 2590
Target met. In the event of Greggs enjoying further trades beyond 2636, t ……..
</p
View Previous Greggs & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 161.05 Percentage Change: + 4.65% Day High: 160.9 Day Low: 154.5
Target met. Continued trades against IAG with a mid-price ABOVE 160.9 sho ……..
</p
View Previous British Airways & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1290 Percentage Change: + 3.04% Day High: 1310 Day Low: 1243
Target met. Continued trades against JET with a mid-price ABOVE 1310 shou ……..
</p
View Previous Just Eat & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 255.1 Percentage Change: + 0.63% Day High: 258.7 Day Low: 252.8
All Marks and Spencer needs are mid-price trades ABOVE 258.7 to improve a ……..
</p
View Previous Marks and Spencer & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 596.2 Percentage Change: + 5.60% Day High: 618.4 Day Low: 536.6
Further movement against Ocado Plc ABOVE 618.4 should improve acceleratio ……..
</p
View Previous Ocado Plc & Big Picture ***
LSE:PHP Primary Health Close Mid-Price: 100.6 Percentage Change: -0.79% Day High: 104.5 Day Low: 98.8
In the event of Primary Health enjoying further trades beyond 104.5, the ……..
</p
View Previous Primary Health & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 243.6 Percentage Change: + 1.92% Day High: 244 Day Low: 239
In the event of Rolls Royce enjoying further trades beyond 244, the share ……..
</p
View Previous Rolls Royce & Big Picture ***
LSE:SPT Spirent Comms. Close Mid-Price: 106.6 Percentage Change: + 0.66% Day High: 108.3 Day Low: 101.4
Target met. All Spirent Comms needs are mid-price trades ABOVE 108.3 to i ……..
</p
View Previous Spirent Comms & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 36.94 Percentage Change: + 10.27% Day High: 37.46 Day Low: 33.6
Further movement against Tullow ABOVE 37.46 should improve acceleration t ……..
</p
View Previous Tullow & Big Picture ***
LSE:TRN The Trainline. Close Mid-Price: 296.8 Percentage Change: + 2.34% Day High: 302.8 Day Low: 286.8
Further movement against The Trainline ABOVE 302.8 should improve acceler ……..
</p
View Previous The Trainline & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 123.55 Percentage Change: -0.48% Day High: 128.1 Day Low: 123.85
All Taylor Wimpey needs are mid-price trades ABOVE 128.1 to improve accel ……..
</p
View Previous Taylor Wimpey & Big Picture ***