#Brent #Dax A month ago, we devoted 29 words to speculate what would happen to Barc’s share price, if it floundered below 139p. Guess what, it did! (LINK) Unfortunately, the price broke our target 90p level repeatedly which means we must now concentrate on worse potentials.
The situation now suggests trauma, if the price meanders below 79p. Such a ridiculous movement allows continued travel downward to an initial 47p. If broken, our secondary works out at 26p and (hopefully) ultimate bottom. We cannot currently calculate a bottom level below 26p.
There is something slightly interesting about 47p as an initial drop target. This matches Barclays low of 2009, presenting a point where most of the world shall anticipate a rebound. We’d advocate caution if 47p breaks on any initial surge downward. It will tend to make a bounce short-lived and worse, confirm the potential of 26p making a guest appearance sometime in the future.
At present, Barclays requires to trade above 110p just to suggest any recovery “might” be real. Moves above 109p calculate with an initial bounce target of 121p with secondary, if exceeded, up at a more reasonable sounding 135p.
For now, we’re not holding our breath but are wearing a face mask…
FUTURES
Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
10:16:28PM | BRENT | 32.06 | 31.25 | 30.025 | 27.74 | 32.86 | 33.38 | 33.68 | 34.49 | 31.86 | Clsd |
10:18:44PM | GOLD | 1730 | Clsd | ||||||||
10:20:18PM | FTSE | 5809.39 | Clsd | ||||||||
10:21:42PM | FRANCE | 4520.7 | Clsd | ||||||||
10:23:32PM | GERMANY | 10759 | 10654 | 10605 | 10533 | 10749 | 10821 | 11022.5 | 12036 | 10300 | Clsd |
10:25:08PM | US500 | 2853 | Clsd | ||||||||
10:28:06PM | DOW | 24089 | Clsd | ||||||||
10:30:01PM | NASDAQ | 8718.37 | Clsd | ||||||||
10:33:43PM | JAPAN | 19542 | Clsd |