Trends and Targets's blog

 Various enquiries regarding assorted FTSE stocks today. SMIN (Smiths Group) are of interest as we calculate it's holding  a medium term target 1xxxp. Currently at 1xxxp. In the near term, will not be surprised to see it touch around the 1xxx level before a retract to current levels, then a final stab at the top number. Once the share CLOSES above 1xxx, it becomes almost inevitable.

To recap, GOLD remains on a path toward 1324USD next and would still require to exceed 1411 to escape the track's near term drop potentials. We can make a weak argument in favour of some sort of bounce from 1359 but any bounce requires to exceed 1393 simply to suggest the downward force is at risk of stalling.

GOLD remains on a path toward 1324USD next and would still require to exceed 1411 to escape the track's near term drop potentials. We're very slightly interested in the motions during the latter part of the day as it tends to indicate some near term recovery. But unless 1411 is exceeded, the bottom target stands. In the event of it being exceeded, initial breakout target remains comfortably at 1433USD.

Just a casual thought but we like where Centrica closed as it permits recovery in the near future toward 391.5p. If it's going to go wrong, the price need only move below 378p.

 n an effort to make our Twitter feed less boring, we posted a comment about IAG. Essentially, next time it closes above 282.5p, we illustrate 315p as the next major point of interest on a convoluted path toward a long term 389p

On Forex, the COMEX:GBPEUR relationship risks becoming interesting in the next few days. Should the relationship manage to move above 1.1982, an argument develops toward a miracle move in the direction of 1.2423. Currently at 1.1800 and in Forex terms, a thousand miles away from the trigger point. But probably worth keeping a weather eye on.

GOLD made an initial triggering movement toward 1394 but obviously managed to avoid the confirmation move below 1439. It would require to exceed 1464 currently before we'd feel safe considering the drop potentials are off the table. From our perspective, until such a point is exceeded, it is 'on watch' for any moves below the final drop signal.