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<\/p>\n#Brent #Dax <\/b>\u00a0Sometimes the market does thing we simply can neither understand nor justify. Natwest just pulled off one of these stunts as when we reviewed the share three weeks ago,\u00a0 we suggested above 281p should next target 295p with secondary, if bettered, a ‘game changing’ 315p. These target levels are worthy of a few minutes examination, especially as the gremlins who influence price movements appear to be following the same sheet music as us.<\/p>\n
To explain, the chart immediately below shows something interesting happening on April 26th. Natwest was gapped up to 296p when the market opened, obviously slightly above our immediate target level. In the period what has followed, the share price has trundled up to a high of 317.9p, slightly above our secondary target but on the day, it failed to close above 315p, so we’re not entirely convinced the game has yet changed.<\/p>\n
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But when we review what actually happened on Tuesday 7th, things get a little interesting as at 2pm Natwest exceeded our 315p, reached a new high by 2.40pm before forcing itself backward, once again below 315p yet at 3.30pm. it spitefully back-tested the 315p level before falling again. From our perspective, the worst thing we should now anticipate is for weakness below 310p promoting the idea of reversal to an initial 303.3 with our secondary, if broken, calculating down at 286.3p and hopefully a bounce capable of taking the share upward properly. But our demand it closes a session above 315p remains intact before booking any expensive holidays to Skegness.<\/p>\n
There is another visual issue, one we’re not entirely sold on, and it’s the very real danger if the market wakes up one day, opting to Gap the share downward at the open by around 5p for whatever reason they find offends them the most. Any movement such as this risks dangerous consequences. While we shall need visit a new set of calculations, a Gap Down following a Gap Up usually ends in tears.<\/p>\n
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Of course, this is Natwest, a UK retail bank and therefore worthy of undying optimism and trust. But sarcasm aside, there is something important.<\/p>\n
Theoretically, despite it not yet double underlining the word “optimism” by allowing the share to close a session above 315p, there is an argument we can now present where movement above 318p should target an initial 355p with our longer term secondary calculating at an amazing 379p in the longer term.<\/p>\n
<\/p>\n <\/p>\n FUTURES<\/p>\n![](\"http:\/\/www.trendsandtargets.com\/img\/nwg070524b.jpg\")
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