 Hi, good morning, and welcome to today's products and focus and it looks to be the global equity markets are still managing to To push on higher as oil prices jumped almost 5% yesterday as Russia and Saudi Arabia Are deciding to meet to discuss the current oil glut though opposing views on the Syrian war You've got Saudi Arabia on one side and Russia on the other might put an end to those proper discussions being that constructive But the markets are taking that as a as a possible potential outcome that they might meet and arrange to cut oil production which we cause oil prices to increase in value and as I said we almost had a 5% increase yesterday and We're continuing to see a lot of potential momentum Gather there and a lot of equity markets apart from Japan to 25 which will come back to the second But we do seem to be hitting that 55 period SMA on the US 30 with a longer term potential resistance at 17,000 and 34 so jumping then on to the UK 100 Still keeping its head above 62 well is to say 6,300 again hit by that 55 period SMA next potential resistance 6,415 and if we do get retracement We might now expect that broken resistance at 6,300 to act as a potential support Other technical still relatively neutral with the MACD just about across the zero line We could get further potential momentum and you bear in mind that the UK 100 has a fair amount of oil companies on the index Should oil prices continue to push on higher? It could be well supported So looking at the Japan 25 so it came off yesterday Bounced up again a little bit higher. There was no stimulus measures by the Bank of Japan yesterday Though it might be expected to come slightly later With 18,300 and change being the potential resistance We've not managed to smash through there with much conviction But if we do 18,648 is the next potential resistance with the other technicals very neutral Which means it could be further momentum and on Japan 2 to 5 to start the session We actually started a lot lower. So the fact that it's a spite higher is an interesting movement there on Japan 2 to 5 So then moving on to Dullien As ever, I'm not really that excited by Dullien unless you go into a much shorter time frame where it's trading on quite a tight range In fact, let's just go let's have a look at a 30 minute interval So we can see how that market is trading relative to the support and resistance levels that we have drawn on there Well, we're quite a good bit away. It just seems to also leak quite a lot around these moving averages You could probably redraw some of these trend lines But it's just not really doing a huge amount if you're a range bound trader then this actually could be kind of interesting But if you like to look at things at slightly longer term, I guess certainly certainly over a few days Dullien isn't really doing a huge amount So moving quickly as actually quite a disappointing figure for an industrial output for Germany that came up on my market calendar So the forecast was 0.2 and the actual came in at minus 1.2 with a revision for the previous figure So that's not so good and revision there and I revised that one up But then this figures come out quite badly so it's a disappointing data just coming out of Germany as we are recording this video So then moving on to Crude Oil West Texas, you can just see this absolutely smashing high candle Fully bullish engulfing pattern We have moved slightly high this morning finish the top end of this range 49 40 is a potential resistance and that was the trend line level right here And the market is stopping dead on that level right now Now if you break above that with any momentum, you are looking closer to 40 a 54 85 as a next potential Resistance so there could be some interesting movements if we fail to break through 49 40 and it ends up that the Saudis and the Russians Aren't gonna be friendly I wouldn't be surprised that's the case when you consider they've got very opposing views politically on what's happening in the Middle East We could see a reversal back down to 45 85 But the markets taking it as a fact that they're willing to meet to discuss production as a possibility So then looking at gold Gold now again is spiking up higher as interest rates fade into the darkness Really strong movement we had there in gold yesterday a decent move today. You are arguably going to get a short-term potential Resistance level roundabout the tip of this candle. In fact, let's just go ahead and draw that in We just say it's gonna be a short-term level. In fact, I've got to get rid of some of these other levels because I've got so many Support resistance levels here on gold We're not actually any for near some of these levels for some time So I really should do some good housekeeping and tidy things up ever so slightly And I think this one's quite old as well. So we'll just get rid of that for now and we'll redraw This potential tip right here, just so we can look at things at a slightly Shorter time frame. So these are maybe the core levels to be aware of in the very very short time And we can probably get rid of that too because this is slightly old and that's currently where we are. Okay, so 1157 is the tip of this candle followed by 1168 and I've taken the resistance levels being a previous candle Because even though we ticked higher on the second candle, you always take the one just slightly behind it Okay, so that's where we are with gold and we finish up with your dollar and GBP USD So your dollar, I think we are in a symmetrical triangle formation Couldn't get a breakout one direction or the other with one spot 1475 being one potential target and one spot 11 being the other potential target Decent move higher for the euro at the expense of the US dollar yesterday as those interest rate I hopes really are completely dashed for anybody who's hoping for higher rates in the US And then if we finish off with GBP USD We're just above one spot 51 85 It's been hard to really get some momentum on on GBP It's not been doing so great recently But one spot 54 24 is an X potential resistance bullish cross on the MACD and a bullish cross over there on the slow stochastic So from a technical perspective things could be hotting up a little bit there for GBP USD again I've got loads of support resistance levels on here Arguably way too many So let me just go back there and clean some of this up It's also good technical analysis trick to draw as many lines on a chart as you can Because then some of them are actually going to go and match up to the potential support and resistance levels But that's currently where we are. I think we can get rid of some of these as well Just to make it a little bit easier for us to see what's going on and arguably You could take some other levels quite close to here Well, I'm gonna take this tip here anyway That's gonna be a level for us to watch out for in the future and I can maybe just redraw things ever so slightly like so Okay So these are probably the some of the core levels for us to be aware of on the GBP USD with one spot 51 78 Now being a potential level to be aware of so that gives you a bit of an idea. What about the economic data? So today we've already had some some data come out of Japan nothing really that exciting obviously this point in data from Germany And then we have the petroleum report on Later on today at 3 30 UK time Go forward on Thursday. You've got the Bank of England MPC minutes the unemployment claims and although we don't have on our calendar Don't forget that on Thursday round about 7 p.m. UK time we have the FOMC Minutes and one of the reasons it's not on the calendar is the calendars from Reuters and they have it's all Kind of data numbers specific and obviously the FOMC minutes is a statement rather than a data release So that's why it's not on the calendar, but it is happening 7 p.m. UK time an important bit of data make sure you don't forget about that So guys keep your eye on the chart form as ever lots of cool analysis from a global analyst team Insights gives you the insight obviously from our global team Make sure you don't miss that lots of cool interesting information on there and join me again tomorrow to find out what happened next