RNS Trading Fri 16 Feb 24

One to Watch SLP Banks NWG : XPP Warning

 

 

NatWest and TBC provide positive updates which may see a lift today as NatWest starts a share buyback and improves the divi - 200MA around 229p has proven as resistance: I'd expect it to gap open above the 50MA at 216.8 assuming a positive response to earnings CHART with a potential test of resistance around the 200MA.

SLP Sylvania Platinum  provides a 10% increase in its Volspruit mines mineral resource estimates CHART   RNS here

 

"The updated geological model reveals a notable 10% increase in the Volspruit North MRE compared to the October 2022 publication, accompanied by improved overall grades. These enhancements result from a more constrained geological model based on interpreted mineralised zones

 

 

 

SLP is in a fairly committed downtrend - but momentum is improving - watch for an open/gap above the 8EMA which has been consistent resistance CHART

 

XPP  XP Power issues a dire warning and sets to drop  CHART

 

Today's trading opportunities from RNS newsflow catalysts that trigger trend changes. There is no afternoon update on Fridays unless in exceptional cases of market activity

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Pre Market-0645 Brent Bounce back: UK Retails Sales at 07:00

Dollar pulling watch has the greenback tracing the 8EMA aroound $104 holding firm CHART  at $104 level  -

Gold holds above $2000 appears to have found some support at the 100MA but awaits dollar CHART

Copper rallied and cleared the 8EMA yesterday and is currently testing the 200MA CHART

platinum held onto the 8EMA yesterday but rejected the 21EMA which appears to be resistance

Uranium unch at the  $102 levels CHART

 

 

Brent crude's CHART drop below the 200MA yesterday proved brief - it found support at the 21EMA and rallied back above the 200MA - it does remain fairly rangebound in its channel so likely to bounce around in the $78 to $84 area for now

 

Bitcoin continues to show strength but is encountering some resistance around the $52000 level and may be prone to pullbacks given the recent run : I highlighted an add area to ARB, Argo Blockchain yesterday where I maintain a long position posted last Friday , if BTC pull back then ARB is likely to follow and may offer opportunities to add around the 5 or 8 EMAs  CHART

 

Bitcoin

 

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