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#Brent #SP500<\/b>\u00a0An interesting aspect of looking across to the mainland has been a sense of relief. Watching the media during the early days of Covid-19, we expected to witness a never ending stream of emergency vehicles rushing patients to hospital but, the road along the shoreline remained thankfully empty of ambulances driving fast. This year, with the motorcycle season upon us, it’s quite a different story with fast moving blue light ambulances now a daily occurrence. Equally, looking across, there’s been a complete lack of rioting aside from the occasional bad tempered growl of a revving engine as a motorist escapes from the larcenous fees charged by the ferry company for a short crossing!<\/p>\n
The riot thing isn’t entirely a joke, due to an addiction to getting news from anywhere other than heavily biased UK sources. Across Europe and the USA, there’s a general belief “The UK Had Fallen”, even with some American outlets warning fliers against stop-overs in the UK in case their name comes up on a database of people who’ve written the wrong thing on Twitter or Facebook. Hopefully it’s all ridiculous but as a Twitter addict, it became sensible to self police any comments about UK PM, Sir Starmer. But, from a US perspective, there’s real horror about what’s going on in the UK, making us expect to see raging riots across the narrow strip of sea to the mainland.<\/p>\n
This brings us quite neatly to Natwest, a share price which is supposed to be doing something, yet in real life it isn’t happening.<\/p>\n
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When we reviewed Natwest a month ago, we’d given a target of 377p yet, in real life, it only managed to discover a route to 372p before sharply falling back, presumably due to being parked for the month of August. This has created an interesting situation, one which will doubtless become possible in September, where movement above 372.5p should promote further growth to an initial 387 with our longer term secondary, if this initial is beaten, calculating at 413p. Or perhaps even 431p, thanks to the manipulation gaps.<\/p>\n
If Natwest decides to follow the route of the Lemming, below 310p now risks proving troubling movement\u00a0 Below such a level risks triggering reversals down to an initial 270p with our secondary, if broken, at a bottom (hopefully) of 232p. To be “safe”, we’d prefer seeing the share price actually close below 310p before pressing an alarm buzzer. Our suspicion remains of the market expecting Natwest to head upward but with no immediate dramatics.<\/p>\n
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