#Gold #SP500 Historically, we’ve ample reason to utterly distrust Silver price movements, quite literally dating back to that Friday in 2011 when we suspect whoever was controlling the price went out for wet lunch, leaving an intern to make decisions. When everyone came back from the pub and noticed Silver was almost at 50 dollars, the commodity suffered the fastest reversals seen since that Falklands oil company mentioned the bucket of oil they’d discovered was actually just dirty water. Prompting us to revisit Silver, the final episode of Grand Tour with Jeremy Clarkson, James May, and Richard Hammond, featured the trio pretending to smuggle several kilo’s of Silver out of Zimbabwe and in the process discovering the only border in the continent not manned by folk with guns and more soldiers than can be justified. Spoiler alert; their cunning plan was a success but a further question arose?
In the 7 years since they started the show, Jeremy Clarkson has somehow managed to become around 18 months pregnant, developing a massive baby bump which calls the state of his health into question. His car in the final episode was a diminutive Lancia Monte Carlo, a car designed for folk with a smaller stature, and how he managed to get in and out of the vehicle remains a puzzle. But on the bright side, as someone with experience driving that little sports car extensively at high speed, it was a pleasure to finally see one appear on a car program.
Returning to their efforts of smuggling silver out of the country, an initial workout for the eyebrows came when they discussed the price of the raw metal in Zimbabwe. A quick visit to exchange rates and our calculations showed the potential for quite an impressive 10 fold profit. Though it may have been 1,000 fold as there was some uncertainty about how they paid for it. Inevitably, the final episode of the show inspired us to actually revisit Silver to try and discover if the markets harbour any ambitions for a future above the $30 level. Surprising to note, there are some early signs hinting this may be the case.
In the last few weeks, the price of Silver has dared to break above the downtrend since 2011 but importantly, the value of the metal has not been permitted to close above the trend. Instead, we’ve 8 upward flourishes which just may be a tease to sucker folk into believing price movements with Silver will follow those of Gold. This feels very unlikely but we shall now be interested if Silver bubbles above $33 as this should now trigger a lunge in the direction of 36.2 next with our longer term secondary, if bettered, at 38.8 dollars.
Overall, should the price of Silver manage to close above the $33 level, we shall regard it as entering a long term cycle to a future $45.
But of course, thanks to events in 2011 and our ability to maintain a long term grudge, we’d now be concerned if Silver melted below $29.5 as weakness down to an initial $23 calculates as possible with our secondary, if broken, at a hopeful bottom of just $20 and hopefully a proper bounce.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:20:38PM | BRENT | 7669.4 | ‘cess | ||||||||
| 11:23:30PM | GOLD | 2608.86 | 2605 | 2595 | 2565 | 2624 | 2625 | 2632 | 2641 | 2615 | |
| 11:26:22PM | FTSE | 8268 | Shambles | ||||||||
| 11:31:35PM | STOX50 | 4984 | ‘cess | ||||||||
| 11:34:49PM | GERMANY | 19269 | ‘cess | ||||||||
| 11:38:13PM | US500 | 5788.4 | 5733 | 5710 | 5681 | 5759 | 5797 | 5807 | 5852 | 5769 | ‘cess |
| 11:42:12PM | DOW | 42512.7 | Success | ||||||||
| 11:44:51PM | NASDAQ | 20261 | Success | ||||||||
| 11:48:17PM | JAPAN | 39658 |
9/10/2024 FTSE Closed at 8243 points. Change of 0.65%. Total value traded through LSE was: £ 4,219,173,545 a change of -36.61%
8/10/2024 FTSE Closed at 8190 points. Change of -1.36%. Total value traded through LSE was: £ 6,655,496,813 a change of 41.95%
7/10/2024 FTSE Closed at 8303 points. Change of 0.28%. Total value traded through LSE was: £ 4,688,627,065 a change of -10.63%
4/10/2024 FTSE Closed at 8280 points. Change of -0.02%. Total value traded through LSE was: £ 5,246,156,906 a change of -2.97%
3/10/2024 FTSE Closed at 8282 points. Change of -0.1%. Total value traded through LSE was: £ 5,406,589,998 a change of 0.25%
2/10/2024 FTSE Closed at 8290 points. Change of 0.17%. Total value traded through LSE was: £ 5,393,073,396 a change of -18.14%
1/10/2024 FTSE Closed at 8276 points. Change of 0.49%. Total value traded through LSE was: £ 6,588,507,831 a change of -4.69% 
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:AFC AFC Energy** **LSE:CCL Carnival** **LSE:MKS Marks and Spencer** **LSE:MMAG Music Magpie** **
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Updated charts published on : AFC Energy, Carnival, Marks and Spencer, Music Magpie,
LSE:AFC AFC Energy Close Mid-Price: 9.3 Percentage Change: -6.06% Day High: 10.06 Day Low: 9.15
If AFC Energy experiences continued weakness below 9.15, it will invariab ……..
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View Previous AFC Energy & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1402.5 Percentage Change: + 8.34% Day High: 1403.5 Day Low: 1292
Further movement against Carnival ABOVE 1403.5 should improve acceleratio ……..
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View Previous Carnival & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 382.9 Percentage Change: + 2.96% Day High: 382.4 Day Low: 373.8
Target met. All Marks and Spencer needs are mid-price trades ABOVE 382.4 ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 8.65 Percentage Change: + 0.58% Day High: 8.84 Day Low: 8.6
Continued trades against MMAG with a mid-price ABOVE 8.84 should improve ……..
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View Previous Music Magpie & Big Picture ***