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nice reversal pattern on the 5 minute chart, if 259 holds this is good for bullish rise today, 259 is the support from the neck line of the reverse head and shoulders.

https://ibb.co/TkNkC47

@Bhavik - Barc is stuck in a trading range atm, consolidating, so yesterday's 162 was just profit taking, how ever the FTSE 100 lost 140 points over night so watch the fun and games here this morning, low 150s coming minimum

@Maximus - selling hence the SP drop

@Red exactly, no bad news related directly to rmg not that im aware of anyway, just market pressure driven by bad news somewhere else. Main thing is we dont revisit the low 260s again, im hoping that is the bottom and start of a turn around.

@JB - its easy to spot the reversal patterns but much harder to see how long its going to run for, support and resistance lines come in at that point, its all about volume and momentum which can come in as it moves up, we didnt have enough to break 288 and i thought today would be the day if it wasnt for the over night slippage, could still happen though as we are trading above the 9ema on the 15 minute chart again.

@Anger you were bang on. we had a reversal pattern on 2 minute time frame, nice big down above us as well, that will get filled in days coming no doubt, lets see what the US does this afternoon..

@Anger - morning, surprised by that drop this morning, FTSE holding OK for now after some good gains these last few trading days, we are still looking bullish on the FTSE MACD and are due a day consolidating, one step forwards two steps back atm.

RE the level 2, the problem with it is most retail brokers have their own dark pools for limit orders, so if you place a limit buy or sell it doesnt go onto the open market order book, depth of market does give you an idea on sentiment and time and sales the waves of orders so as you say good for getting a slightly better price in and out. I use quotestream which is with interactive investor is about £25 a month.

@roxy i would have thought the total already in circulation split into say %40 kaz %60 Russia

your broker will be able to tell you how to sell them, ive spoken to mine and they said the instructions will be in the corporate action.

@Boyo im pretty sure renewables is on the back burner for now, someone has to stop that psychopath first, high oil prices are lavashing the Kremlin as is the illusion of a strong Rouble, Russia mainly being an exporter needs a semi weak Rouble not life, all time high against the Dollar, and we think the Dollar is strong.

The fed putting up interest rates is the quickest and easiest way to start the pain on the Russian economy, get the oil prices down and the rest will follow, im hoping if this down trend on oil continues we may see a stalling of inflation in July.

Also note gas prices are down 25% this month, its heading in the right direction at least.

@Red definitely think myself lucky, i have switched off from the MSM for today will have a catch up tonight, sometimes bad news can be a blessing, to get this war finished hopefully. our previous resistance of 282 is now support, today is very slow across the whole market, no big movers or shakers in my watch list.

@Tygra - feel better now you've got that off your chest? made a loss today or just feel like being nasty for hell of it? lolz

@Chilting - there is an known correlation between US inflation being high and high Oil prices, yes there are aspects like lack of investment during covid and short staff, but first the US will attack the inflation with higher interest rates, the fact oil started to drop middle of the month i dont think is a coincidence...

@Red SPX has risen a bit the last few days so its just consolidating by looks of it, i dont keep up with the US news that much and really should, i dont think any big news for today i was more hoping that it would follow the FTSE gains..

@red take my posts like the kiss of death, as soon as i open my mouth well....ha seriously its just screen time, put in the hours looking at charts you just spot the patterns.

288 was tough with not much volume but we have 50MA support as 282 so it could bounce off the 50 and carry on up, or we may just trend side ways.

kick the door down of 288, then onto 291 (minor resistance then clear all way to 304, fingers crossed SPX comes out of the traps blazing at 230pm ))

https://tradingeconomics.com/commodity/brent-crude-oil

Oil price dropping and Gas, this leaves me with some confidence that inflation will start to slow soon, we may have a period of inflation stuck at high levels but not going higher and eventually dropping. Next Months Fed announcement mid July on interest rates is key.

If we get no move on interest rates and inflation stalling that is a good sign going forwards.

@Belgrano - your comment "Think I'd rather trust the Rouble and the Renminbi than the pound right now. although that is a personal viewpoint, both those other currencies are much stronger than the pound or even the dollar. The former are built on solid material and natural reserves while the latter two I''m afraid are based on a mountain of debts."

Exactly what i am saying about the Gold sanctions, high inflation and recessions are periods of currency devaluation, we dont own money as per to say we own currency, by devaluing it you are paying twice as much for the same products in some cases, this keeps the money flowing upwards to those who have set margins on profits. The winners out of this are those at the top and us at the bottom pay heavily, hence the the goverments windfall tax on Oil and Gas to appease the tax paying middle class.

I would be interested what others thoughts are on these Gold sanctions, while it will have an effect on the Russian economy its also likely a way for our own goverments to profit from it, higher spot price on gold is favourable for those who have plenty of it...

There will be profit takers on the way up, at present we are trending, all these patterns are useless when bad news is around, atm we dont have any and the algorithm is trending up, the Wyckoff Spring is a classic reversal pattern that all the ii's love to trade, we should get at least two big legs up.

We have air between the 20MA and 50MA and 200MA on the 15 minute chart all the way up to 4 hourly, this is a confirmed strong up tyrend until either some bad news share specific or the FTSE does anothjer nose dive.

@Oligrach these shares are traded by computers not humans (SETS), they run off algorithms which can chnage depending on news or wider market forces on the FTSE, when trending they will be running off automatic SETS trading, the SP at present has nothing to with RMG as a company, with no news its just recovering from recent sell off in that part of the supply demand cycle.

https://ibb.co/YyBfLRC

https://tradingeconomics.com/commodity/brent-crude-oil

Oil price dropping and Gas, this leaves me with some confidence that inflation will start slow soon, we may have a period of inflation stuck at high levels but not going higher and eventually dropping. Next Months Fed announcement mid July on interest rates is key.

yes i agree it was the initial intention of the US, but VP insistance on paying for Gas and Oil through Rouble has caused this inflated Rouble price, now with all major brands pulling out of Russia your average person can buy from abroad much cheaper, according to Russia they are self suffiecient so have no need to buy anything from afar with a strong rouble. The other sanctions also prevent them buying from any Western allied countries.

Russia's income is based on its exports, Grain and Oil\Gas mainly, with a high Rouble this is going to be harder to sell over the borders. The effect on the Rouble was a surprise to everyone inc most financial analyst's, slowing sales and returning reduced profit, the BoP is dropping, Russia also has to offer a discount to sell it to those brave enough to buy it with High Rouble rate, so its an unexpeceted double wammy for Russia when selling.

The Gold sanctions are token at best imo, there is more to this Gold sanction than Ukr war, i am cynical but rightly so when it comes to the US and UK goverments, votes come first.