 Hi, good morning and welcome to today's products and focus a bit of a bloodbath first trading day back after the new year as Data of China has massively disappointed And you also put in the Iran Saudi Arabia issues and you've got a perfect melting pot of Fear and concern in the market. So first of all that that Chinese data In regards to their manufacturing index came in way worse than expected today also was the first day of the new circuit breaker Initiative that China had implemented as the markets dropped more than 5% They'd be a pause for 15 minutes to drop more than 7% They're suspended for the day and of course as first to a day back So at the markets have of course hit that already and the Chinese markets got suspended so most Chinese markets down between 7 and 8% and the European US markets followed suit and the Germany 30 is one that's getting really hurt this morning. It's down almost 3% Already the US 30 showing three advancing so three black rose here Sorry as a candlestick pattern breaking below 17 361 with 17 or 34 be an exponential support The other technicals relative neutral part from the MACD, which basically shows that it could be More technical weakness to come. So it's not looking so great for the US 30 It's only down 1% in fact We'll have a look at the Germany 30 in a second because it's savage So looking at the UK 100 it's down 1.2% so far this morning Getting close to that 21 period SMA halfway between two ranges with 60 spot 73 be the next potential level. So what we should do? Let's have a look at the Germany 30 Because this will give you a bit of a bit of a flavor. It's actually gapped much lower this morning So that shows you where we are. So if I get my drawing tools out here at the moment You can kind of see that that's your next potential support Arguably, yeah, you probably take this tip here So you're in between two ranges right now You then continue to follow back look for the next tips of these candles when you're looking to construct your support and resistance levels So that's kind of what you'd be looking at a horrible gap to have have first thing this morning is off the session lows if I'm completely honest The other technicals are still pretty neutral to be honest And then 10,125 is a potential support with almost 11,000 be the next potential resistance But we're a good bit away from there right now So that gives you a flavor of Germany 30 looking in Japan to do five dollar yen has so obviously yen has been flavor of the day dollar yen collapsing down to almost 119 And that yen strength is dragging Japan to do five down much lower really bearish and go from pattern again today 18306 as an extra potential support level to be aware of let's have a look at that dollar yen finally getting again I guess finally get that breakout with one 119 being the potential support after that is one 17 spot 36 and you take the tip of this candle as well Very aggressive move by the yen this morning as people buy in the safe haven so looking at crude This is a bit of a tough one to play right now because obviously if Iran and Saudi Arabia Detention is flare up even more that causes a bit of a problem for supply We're in a mind for Saudi Arabia is with their production just now now with the embassy in Tehran Saudi Arabian embassy getting overrun this morning Saudi Arabia have come out and said that they are shutting down all the Iranian embassies And in Saudi Arabia, and that is an unprecedented. They've not had Relations this bad over 35 years. So and they're involved in so many proxy wars. That's a bit of a problem So what you saw this morning actually was an initial spike up and crude only for it to get pushed back down again As traders just don't really know what's going to happen next. Yes, it should be could positive But the deal is it's what is Iran actually going to do to try and and hurt Saudi Arabia for The the execution of that very prominent Shia cleric, of course Iran Iran is a Shia dominated region as well so Big things happening in the Middle East bigger than than the normal you got the Russians there You've now got this real load of tension between Saudi Arabia and Iran In the backdrop of massive self-office in China It's a bit of an ugly start to the morning But the thing is from a trading perspective is all these sell-offs traders do look at it as an opportunity So depending if you're on the long or the short side you've been sitting on the sidelines, you know When you have a sell-off like this, this is actually a real good time to be getting It's certainly getting your interest pepped in a lot of these markets as the sell-offs are quite aggressive So obviously you pick the right time the trading timings timings everything And obviously depends if you've got that long or short view But this is a good time to be monitoring and paying attention to what's happening. So with crude oil You've got 35 30 is next potential support This would be a graveyard doji formation if it forms like that, but we've only just started the training day So then moving on to gold gold getting a little spike up to be honest It looks to be that Japanese yen is a safe haven of choice at the moment So gold is not really that exciting just below 1,072 next potential support is 1,047 So finishing up with euro dollar and GP USD so euro dollar bouncing off one spot 08 20 Getting above that 55 period SMA getting close to 21 period SMA again, not really that exciting but This is an interesting move if it forms this way keep an eye on this candle today That would be a hammer formation if it stays kind of constant like that And we do have a slight maybe a slight bit of divergence may be forming here on the slow stochastic The guards take a minute data We don't have a huge amount now that we've got the Chinese data Out of the way of which other servers a bit of a mess not a massive mess by any stretch of the imagination But the market has taken it to be quite negative We do have PMI from the Eurozone from Germany from the UK Then we've got CPI from Germany and then finishing up today with PMI From the US and on Tuesday the unemployment claims from Germany and CPI from the Eurozone And then Wednesday got PMI again for the Eurozone trade balance factory orders PMI again And of course at the weekly petroleum data updates from from the US So that's going to be quite a big day there on Wednesday Obviously Friday brings in non-farm payrolls and just to finish up with GBP USD Slowly moving a little bit lower versus the US dollar one spot 4640 is going to be the next potential Support level on that so the downtrend firmly in place at the moment and we're at a month multi-month low We've not been as low as this since April last year So that gives you an idea what to expect so guys keep your eye on the chart form keep your eye on the Germany 30 Of course and make insights popular going forward and join me again tomorrow to find out What happened next