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10/06/21 10:53
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A first quarter (Q1) trading statement from Ocado is the risk event to watch for on Tuesday. IGTV’s Jeremy Naylor looks at the recent developments including an announcement that Ocado is pausing the rollout of new distribution centres in the UK after making a record annual loss of more than £500 million. Could this mean a warning is in the wings? Jeremy Naylor | Analyst, London | Publication date: Friday 24 March 2023 -
Gold and wheat holding up but oil starts to fall back While gold prices are holding near $2000 and wheat has moved higher in early trading, oil prices have come under pressure again. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 24 March 2023 Gold holds near $2000 The price finds itself knocking on the door of $2000 again, having recovered from mid-week losses. The sharp move higher is firmly intact, and with the recovery from the lows of Tuesday the uptrend has been given new impetus. This then puts the $2050 highs back in view, with the bullish view in place unless we see a drop below $1920. After the big gains from the beginning of March, the sellers would have a tough job reversing the bullish outlook. Source: ProRealTime WTI in retreat again The short-term bounce has run into some selling around $70 for a second day. After the big move down in March the price was able to bounce from the $65 support zone, but already upside momentum is waning. Continued gains would target the $72 support zone that held in January and February. Meanwhile, a move back down puts $65 into view as support again, and then below this the $62 level from August 2021. Source: ProRealTime Wheat aims to recover in early trading Prices have dropped here again over the past week, and now the July 2021 lows at 636 are in play once more. After short-term gains, the price has reversed course once again, continuing the steady downtrend from the February highs and creating a lower high at 715. While the price has edged up this morning off the lows, a move above 700 and a break of trendline resistance would be needed to open a more bullish view. Source: ProRealTime
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FTSE 100, DAX 40 and Nasdaq 100 likely to end week on a quieter note Outlook on FTSE 100, DAX 40 and Nasdaq 100 as volatile week draws to an end. Source: Bloomberg Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023 FTSE 100 tries to stabilise as UK retail sales unexpectedly rise The FTSE 100 index has tried to find support along the 200-day simple moving average (SMA) at 7,429 as UK retail sales surprised to the upside and rose by 1.2% month-on-month in February from an upwardly revised 0.9% gain in January and versus an expected rise of 0.2%. Were the index to close on Friday around the 200-day SMA, it would mark the first slightly positive week after the past couple of weeks’ strong sell-offs due to the banking crisis. Provided that Thursday’s low at 7,416 holds on a daily chart closing basis, a recovery next week towards this week’s high at 7,587 may ensue, a rise above which would push the 15 March high at 7,641 to the fore, above which sits strong resistance at 7,708 to 7,724, consisting of the mid-January and early February lows. Support below the 7,416 low can be found around the 7,296 December low. Source: ProRealTime DAX 40 eyes 55-day SMA while 15,011 holds The DAX 40 slid back below its 55-day SMA at 15,258 on Wednesday and capped it's attempt to move higher again on Thursday as investors continue to grapple with tightening monetary conditions and lingering worries about further bank failures being seen. From a technical perspective, while Thursday’s low at 15,011 holds on a daily chart closing basis, further upside back towards the 55-day SMA and this week’s high at 15,258 to 15,304 is likely to be seen. An advance and daily chart close above the 15,304 level would open the way for the 13 March high at 14,486 to be reached, a rise above which would confirm the resumption of the October-to-March medium-term uptrend. Were Thursday’s low at 15,011 to be slid through, however, the mid- to late January lows at 14,992 to 14,904 may be revisited. Further down sits the 13 March low at 14,885. Source: ProRealTime Nasdaq 100 likely to end week on a quieter note Despite a lot of volatility having thrown the Nasdaq 100 around this week and the US 2-10 yield curve un-inverting following an earlier inversion, normally a sign that a recession is on its way as short-term yields fall sharply in anticipation of rate cuts, the index looks bid and may well end the week higher for a second week in a row. The February-to-March highs at 12,896 to 12,947 need to be exceeded on a daily chart closing basis, for further medium-term upside to enter the fray with the minor psychological 13,000 mark representing the first upside target. Since banks continue to borrow heavily at the Fed's discount window, a sign that stresses remain despite the actions taken by regulators, a slip through the March uptrend line at 12,715 remains a possibility and may lead to the 17 March high at 12,673 being revisited. Only a slip and daily chart close below Wednesday’s low at 12,545 would cloud our bullish outlook, though, and put Monday’s low at 12,398 back on the map. Source: ProRealTime
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Guest wilyc
I have annotated my charts extensively.
I have never encountered a problem, but with other packages I use I regularly back up my chart doodling just incase.
Is there an option to do this with PR charts?
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