#Brent #Gold There’s little doubt 2020 shall be remembered as “The Year When Everything Changed”. Attending a funeral in Scotland, the service restricted to 20 people, an intimidating honour guard of cars lining the final route, little contact between people, a friend was laid to rest. This, the new normal, only lacking the body delivered in an Amazon cardboard box to complete the picture.
It’s surprising how easy the transit to internet shopping has become, concepts of shopping lists forgotten as items are “added to baskets” when remembered and ideally, remembering to pay and complete the transaction too. There must be other folk who’ve guiltily explained that yes, I did remember to order that and yes, it’s still in my basket. Who needs toilet paper anyway?
Amazon’s share price has massively enjoyed considerable benefit from the changed habits. Surprisingly, eBay has not yet experienced such exuberance though, should eBay exceed the 62 dollar mark, the words “Go Long and Wait” shall not be far away! Unlike eBay, Amazon feel poised for further price gains anytime soon, thanks to movements during September.
Above 3,213 now looks capable of movement to an initial 3,502 and visually, some hesitation is expected at such a level, due to the price matching the highs at the start of September. With closure above 3,502, continued growth to 3,828 calculates as possible. At present, we cannot calculate above 3,828 with the result, should Amazon exceed such a level, it also enters a new world where everything changes for the price.
Obviously we can dust down an alternate scenario, if everything starts to go a little wrong. Weakness below 2,950 risks reversal to an initial 2,654 with secondary, if broken, at a bottom (hopefully) of 2,363 dollars. At present, we’re fairly enthusiastic at the prospect of 3,502 making an appearance.
FUTURES
Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
9:40:46PM | BRENT | 42.04 | 41.18 | 40.685 | 39.53 | 41.79 | 42.5 | 42.725 | 43.36 | 41.53 | Success |
10:09:19PM | GOLD | 1886.1 | 1881 | 1876 | 1867 | 1892 | 1903 | 1906.5 | 1915 | 1887 | Shambles |
10:12:46PM | FTSE | 5850.54 | Sorry | ||||||||
10:15:30PM | FRANCE | 4804.5 | Shambles | ||||||||
10:24:08PM | GERMANY | 12731 | ‘cess | ||||||||
10:32:08PM | US500 | 3351.52 | Success | ||||||||
10:34:26PM | DOW | 27734 | Success | ||||||||
10:37:06PM | NASDAQ | 11385 | Success | ||||||||
10:39:55PM | JAPAN | 23256 | Success |