#Brent #SP500 The girls decided I’d one job on Sunday evening – drive up to the local town and collect the Chinese takeaway. My wife, daughter and two teenage granddaughters had abandoned all pretence of moderation, opting for what can only be described as a banquet of starters rather than taking the sensible route of ordering four main courses. It was a classic case of eyes being bigger than stomachs, though experience suggests very little would survive the evening regardless.
The journey itself proved rather more interesting than expected. The restaurant is around eight miles away, a pleasant enough drive that, during the height of the tourist season, would normally involve negotiating a steady stream of traffic. Instead, the roads were almost eerily empty. There wasn’t another vehicle in sight for long stretches, and on arriving at the restaurant the situation was no different. The place was deserted. Given the time of year, when the local town is supposedly bustling with visitors, it all seemed rather odd.
The lady behind the counter solved the mystery with a smile, suggesting everyone was probably at home watching the World Cup. That explained everything. Just because football isn’t something I follow doesn’t mean millions of others aren’t perfectly happy to devote 90 minutes to it. It served as a useful reminder that our own interests don’t necessarily reflect those of the wider public. Markets have an annoying habit of teaching exactly the same lesson. Something can appear quiet, ignored or completely lacking excitement, only to surprise when attention inevitably shifts back towards it.
Armed with the knowledge that virtually everyone was glued to a television screen somewhere, the return journey became rather entertaining. The same eight-mile trip home took barely eight minutes, thanks to roads that remained completely devoid of traffic. It’s not often you enjoy such uninterrupted progress during the summer months, and I certainly wasn’t complaining.
Perhaps NatWest shares have something in common with those deserted roads. At present they don’t seem to be generating the sort of excitement that attracts headlines every day, particularly compared with some of the more fashionable sectors of the market. Yet quiet periods often conceal the potential for meaningful movement. Just because something isn’t commanding everyone’s attention doesn’t mean it lacks the ability to produce worthwhile gains once momentum begins to build.
From a technical perspective, the immediate hurdle remains relatively close. A move above 676p should have the potential to trigger a fresh leg higher, initially targeting around 692p. This level is important in its own right, but it is what follows that really captures our attention. Should the shares manage to exceed 692p with conviction, our longer-term calculations begin to project considerably more ambitious territory.
The secondary objective currently works out around 736p, representing a respectable advance from current levels. More importantly, however, such strength would place the shares within touching distance of what we regard as the dominant longer-term attraction, centred around 750p. That level has featured consistently in our calculations and would represent the natural destination should buying pressure continue to build over the coming weeks. While markets rarely travel in straight lines, the overall technical structure remains constructive provided key support levels continue to hold.
Naturally, no technical outlook would be complete without considering the downside. Markets have an unfortunate habit of ignoring the most convincing bullish arguments when sentiment changes, so it always pays to identify the point where the picture genuinely deteriorates. In NatWest’s case, there is no reason for undue concern while prices remain comfortably above 588p. It would require a break beneath this level before we would begin to regard the current structure as having suffered meaningful technical damage.
Should such weakness develop, the first downside objective becomes 532p, where we would initially expect support to emerge. Failure there would unfortunately suggest considerably greater deterioration, opening the possibility of a more substantial retreat towards our secondary target around 481p. At present this remains the less likely outcome, but markets reward preparation rather than complacency.
For now, however, the emphasis remains on the upside. Sometimes the quietest evenings, the emptiest roads and the least fashionable shares end up producing the most rewarding journeys. NatWest may not currently be attracting the same attention as some of the market’s more glamorous names, but from where we’re sitting the technical picture suggests it still possesses the potential to surprise.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 11:56:23PM | BRENT | 9038.3 | 8294 | 7979 | 7582 | 8651 | 9060 | 9213 | 9501 | 8870 |
| 10:06:21PM | GOLD | 3996.55 | ||||||||
| 10:10:14PM | FTSE | 10572 | ||||||||
| 10:17:41PM | STOX50 | 6225.8 | ||||||||
| 10:25:01PM | GERMANY | 24819.3 | ||||||||
| 10:45:20PM | US500 | 7458.1 | 7431 | 7406 | 7345 | 7476 | 7496 | 7522 | 7552 | 7464 |
| 10:49:26PM | DOW | 52104.5 | ||||||||
| 10:58:47PM | NASDAQ | 28660 | ||||||||
| 11:03:40PM | JAPAN | 64968 |
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:CNA Centrica** **LSE:FGP Firstgroup** **LSE:FRES Fresnillo** **LSE:SBRY Sainsbury** **
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Updated charts published on : Centrica, Firstgroup, Fresnillo, Sainsbury,
LSE:CNA Centrica. Close Mid-Price: 173.3 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Above just 183 could prove interesting, giving the potential of a lift to ……..
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View Previous Centrica & Big Picture ***
LSE:FGP Firstgroup. Close Mid-Price: 175.8 Percentage Change: + 0.00% Day High: 0 Day Low: 0
It seems increasingly confident movement above 195 shall be required to fo ……..
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View Previous Firstgroup & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 2442 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. If Fresnillo experiences continued weakness below 2397, it wi ……..
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View Previous Fresnillo & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 356.3 Percentage Change: + 0.00% Day High: 0 Day Low: 0
All Sainsbury needs are mid-price trades ABOVE 361 to improve acceleratio ……..
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View Previous Sainsbury & Big Picture ***