#FTSE #US500 An unexpected side effect of our Covid week was the unpleasant realisation we could use an entire months supply of heating oil in just 5 days. And of course, the tank ran out. Thankfully, the oil company were able to make a swift, if expensive, delivery and in the process of this came the shocking discovery heating oil in Northern Ireland is around 30p/litre cheaper than in Scotland or England. Jealousy was not an attractive look while also enjoying a -5c sunny day!
As usual, the Met Office panic which promised snow failed to come to fruition, our animals forced to enjoy rolling around on frozen grass.
However, the heating oil story wasn’t over, thanks to the boiler deciding to try and impress us with a range of error codes. The core issue was the boiler had figured out we’d run out of oil, needed a delivery, and needed an engineer to reset the error codes. Thankfully I’ve been around this particular block, knowing there’d be a reset switch or button. The thing was easily found, the boiler bursting into life only to shut down again, this time because air had been detected in the fuel line. In plain English, it needed bled, a fairly straightforward process, one which utterly fell apart on me.
The problem was simple. No fuel was making its way from the oil tank to the boiler and a check at the tank revealed the problem. The delivery driver had stood on the copper pipe, creating a kink, stopping the flow of oil. It should have been an easy fix (in -5c), so I turned the tap on the tank off while I sorted the damaged pipe. Unfortunately, this was probably the first time this tap had been touched since installation and there was a metal snapping noise. It was time to call out a grown-up as I both knew I’d broken the tap, couldn’t stop the flow of oil, couldn’t fix the damaged pipe, couldn’t get fuel to our boiler. A text message to my wife (she knows people…) ensured a bloke turned up within an hour looking dangerously competent. I explained what had happened, he explained he was a farm engineer and could probably sort things out. After a while, he admitted he’d decided to order a new tap and filter assembly for the oil tank as bypassing it would damage our modern boiler. The parts should arrive tomorrow and hopefully we’ll get things going again.
As an aside, it transpired his border collie “knows” our golden retriever, the two dogs enacting a play fight for a couple of hours, stopping only to drink. I’d completely forgotten about the cat but the animal was proving quite relaxed, watching the games from her perch above a computer, obviously completely unthreatened. Amusingly, when they were allowed into the rear garden, our golden retriever led the collie through all her favourite bits, the stream gully, the waterfall pool, and the secret dog path up the cliff where, unusually, no deer were waiting to be chased. Instead, Red Squirrel were on the menu, driving both dogs insane.
Long story short, another day in Argyll, one which ended with the log fire blazing and the patio doors slid open to allow the lounge to cool down.
This has quite a lot to do with Central Asia Metals, not because of dogs or heating systems. Instead, it’s got everything to do with their share price failing to do something expected.
When we previously reviewed the share, we’d given criteria for share price reversal to 178 with secondary, if broken, at 170p. In the grand scheme of things, when we present such a confluence of numbers, we’ve a secret expectation a proper bounce in inevitable. In July last year, the share price exactly hit our 170p and indeed produced a bounce, eventually reaching 210p. It was by most standards, a reasonable gain but unfortunately, one which appears not to be proving sustainable. The situation now is quite messy, suggesting weakness below 161p shall risk a visit to an initial 140 with secondary, if broken, at 130p and once again, a price level from which we anticipate another bounce. The current situation demands the share price sink below 95 to indicate everything has gone wrong, similar to our heating oil tank.
In the event of any miracle behaviour, we can present a scenario where above 182p could apparently trigger price recovery to an initial 203p and almost certain hesitation. Our longer term secondary, should such a level be exceeded, works out at an impressive 262p. Common sense demands we wait until the price closes above 203p before believing the calculation which allows such an impressive jump.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:20:45PM | BRENT | 7766.1 | Shambles | ||||||||
| 10:24:08PM | GOLD | 2028.15 | Success | ||||||||
| 10:29:17PM | FTSE | 7535.1 | 7530 | 7489 | 7441 | 7580 | 7580 | 7596 | 7618 | 7548 | ‘cess |
| 10:32:30PM | STOX50 | 4433.6 | Success | ||||||||
| 10:35:46PM | GERMANY | 16534 | ‘cess | ||||||||
| 10:39:04PM | US500 | 4766.3 | 4747 | 4739 | 4724 | 4767 | 4784 | 4795 | 4811 | 4763 | Success |
| 10:42:39PM | DOW | 37342 | ‘cess | ||||||||
| 10:46:22PM | JAPAN | 35899 | Success |
16/01/2024 FTSE Closed at 7558 points. Change of -0.47%. Total value traded through LSE was: £ 5,673,801,232 a change of 52.3%
15/01/2024 FTSE Closed at 7594 points. Change of -0.39%. Total value traded through LSE was: £ 3,725,366,941 a change of -35.31%
12/01/2024 FTSE Closed at 7624 points. Change of 0.63%. Total value traded through LSE was: £ 5,758,721,485 a change of -30.28%
11/01/2024 FTSE Closed at 7576 points. Change of -0.98%. Total value traded through LSE was: £ 8,259,450,269 a change of 68.77%
10/01/2024 FTSE Closed at 7651 points. Change of -0.42%. Total value traded through LSE was: £ 4,893,879,848 a change of -19.09%
9/01/2024 FTSE Closed at 7683 points. Change of -0.14%. Total value traded through LSE was: £ 6,048,276,632 a change of 28.89%
8/01/2024 FTSE Closed at 7694 points. Change of 0.07%. Total value traded through LSE was: £ 4,692,765,125 a change of -13.08% 
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:BP. BP PLC** **LSE:CAR Carclo** **LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:HIK Hikma** **LSE:ITV ITV** **LSE:STAN Standard Chartered** **
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Updated charts published on : BP PLC, Carclo, Empyrean, Fresnillo, Hikma, ITV, Standard Chartered,
LSE:BP. BP PLC Close Mid-Price: 452.3 Percentage Change: -0.15% Day High: 458.65 Day Low: 448.2
Target met. Continued weakness against BP. taking the price below 448.2 c ……..
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View Previous BP PLC & Big Picture ***
LSE:CAR Carclo Close Mid-Price: 8.2 Percentage Change: -12.30% Day High: 9.02 Day Low: 8.2
Continued weakness against CAR taking the price below 8.2 calculates as l ……..
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View Previous Carclo & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 0.55 Percentage Change: -4.35% Day High: 0.5 Day Low: 0.5
Target met. Weakness on Empyrean below 0.5 will invariably lead to 0.43p ……..
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View Previous Empyrean & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 502.8 Percentage Change: -4.63% Day High: 525 Day Low: 504.8
If Fresnillo experiences continued weakness below 504.8, it will invariab ……..
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View Previous Fresnillo & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1970 Percentage Change: + 1.91% Day High: 1976 Day Low: 1906
Target met. All Hikma needs are mid-price trades ABOVE 1976 to improve ac ……..
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View Previous Hikma & Big Picture ***
LSE:ITV ITV Close Mid-Price: 59.48 Percentage Change: -1.98% Day High: 60.16 Day Low: 57.86
Target met. Continued weakness against ITV taking the price below 57.86 c ……..
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View Previous ITV & Big Picture ***
LSE:STAN Standard Chartered Close Mid-Price: 589.2 Percentage Change: -2.61% Day High: 603.4 Day Low: 587.4
If Standard Chartered experiences continued weakness below 587.4, it will ……..
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View Previous Standard Chartered & Big Picture ***