 Okay, very good morning guys. It's Anthony here, it's the 20th of March and as you can see, I'm actually sat at home. So hopefully we can continue to broadcast as per normal with the briefings. We did mention the other day that we were gonna make the briefings private but we've had a pretty tremendous response actually from our subscribers. So for now, we're going to continue to keep these open for free on our YouTube channel. The only thing that I can ask of you, please, is that I know we have quite a loyal kind of following but if you could share our kind of link into your communities, try and build this up as much as possible. We massively appreciate that. Obviously not just myself but Sam who you see on the mic with me a lot as well as well as everyone here at Amplify Trading. I think just given generally the ongoing situation with the virus at the moment and how that's really impacting people across the world, I really don't think it's the right time for us to kind of remove this briefing at this point in time because we wanna do everything we can to help on a lot of people do watch this. So we'll keep it going for now but as I said, if I can ask for you to really share it as much as possible, get people to leave comments, ask questions, we're always gonna help. Remember to subscribe to the channel as well. There's loads more things we've got in mind that we wanna do with the type of content we wanna provide and also as well, don't forget to check out our website. So one of the things that we're doing, obviously me being at home now, we have full setups, all of the guys, all of the traders and all the mentors, all of the teachers on the student side. We all have full kind of technology now where we can deliver pretty much everything. Smoothly, no different really than really what we would do in the trading floor. So all of that's still happening online now. So we have an on-demand trader online learning program. It's a fully kind of comprehensive suite of on-demand videos that's been incredibly popular since we launched it at the beginning of the year. So do check that out. And then on the student side of things as well, our summer internship training is now gonna be fully online. So although we'd normally host that of course in the city of London, just giving everything that's going on, we're gonna be doing that again through using our own proprietary kind of communication platform that we have. We also use things like Zoom technology in order to have one to one and Korean CV sessions, things like that. So hopefully it doesn't provide an obstacle for people who are still wanting to obviously learn and still wanting to trade in that respect. So anyhow, let's get back to markets for a second and have a look at a few different things. While I'm kind of still getting used to doing this from home, I'll try and make it as smooth as possible. But obviously, yeah, this is a massive comment that came out yesterday. I'm sure you saw oil making its biggest spike on the upside actually on record. So even dwarfing that of the big spike we saw in September when that Sadia Ramco infrastructure got attacked at the time by those reported drones from Iran. But we'll go into that in a little bit more detail shortly. Let's just have a quick look at the charts and how things are shaping up this morning. And what you can see is a little bit of a broader recovery across the board. So a little bit of a softer dollar, both major currency pairs in the top left. So my setup here is exactly the same as it always is. The Eurodollar and Cable on the top left and center. So they're both on the ascent this morning. Cable trying to make a continuation of the really strong move, of course, that we saw from the other days. And let me just shift this over to a daily continuation. Obviously for Cable, it had an almighty fall through the period of really since the 10th of March, but really saw a quick descent as we went through the technically really important 120 level, that of course, marking that double bottom from the post referendum. That was also that low point we had here when Boris came in and he was talking about hard Brexit and so on. And so that did put us down in Cable to these really important long standing levels. You can see here on my chart, just to put it in context, this goes back to the year 2000 and we haven't been this low since 1985, of course. So a lot of this, of course, just pricing in the economic implications of what's gonna happen with the impact of the coronavirus and the shutdown that's gonna take place throughout the country. I think I've just seen the list this morning of all the key workers. And it's not that people can't go to work. I mean, actually, if you think about it, it's not just doctors and nurses, but you need to train drivers to keep the infrastructure for the transport to keep going. You need the people at supermarkets to keep working. You need the people in financial services to continue providing the loans that are needed for small businesses. So there is still a lot of people at work, but those more kind of high street retail shops are the ones, I guess, probably gonna be most impacted and restaurants things like that. And again, although the government is not being completely definitive of what they're saying, but generally people not meeting in mass gatherings and so on and so forth. So the pound, obviously the Bank of England taking emergency action, restyling QE, rates back down to 0.1%. I don't think any of that came as a surprise. It was just a matter of when not so much if. So I guess given the severity of the fall that we saw just the other day, I don't think really this is too much of a surprise. A little bit of a meaningful bounce. I guess the thing that you'd be looking for is that as we start to track back higher in cable, it's really when we get back up to that 120 now, which is gonna be quite interesting. Do we get that kind of move where we start to see, I guess, let me just see if I can put an arrow here. Do we break higher like that or do we come up for the test and then we start to move that down again? I guess that's gonna be key and that definitely potentially could be with insight in today's session. As far as the news is concerned on the UK front, if I just transition here to something that's come out this morning, which is obviously this guy you're probably getting more familiar with, Rushi Sennak, the UK Chancellor. So after the UK government proposed basically a stimulus coronavirus kind of package of about 350 billion just a few days ago, one of the main things here is not so much about the individual kind of consumer. The way to really help them the most is to make sure and safeguard their jobs. This is what's at real risk because if companies cannot open for business and it's not just about one person, they lay off a number of staff, that kind of manifests into them and entire supply chain that might service that company. And therefore one company going under can have massive implications and then just given the inherent nature of a lot of people living on quite a fine balance between managing the various outgoings that they have, that could be hugely detrimental to not just individuals, but to the whole UK economy. So what they're talking about here, the Chancellor is set to announce an employment and wage subsidy package to try to protect millions of jobs. Apparently talks went into middle of the night with various different business groups and trade unions. One of the things here I read, one proposal under discussion is for the UK to follow the lead of countries such as Denmark where the government has promised to cover 75% of salaries at private companies for three months if they promise not to let staff go. So I do think that this is, as much as I do anticipate the UK government will literally as per the central bank do, whatever it takes. I mean, this is one of the key things that needs to happen in my mind if we are going to really mitigate what could be an absolute economic disaster of sorts, and so look out for more details on that. I think that's going to be particularly key and perhaps in the short term, although the pound's still going to really struggle, that might add some short-term relief given that that's a real concern at this present point in time. Let's just have a quick run through then of some other stories before and we'll kind of wrap in a few charts. There's obviously no Sam at the moment, but what I have asked Sam to do is if you go on his Twitter account, he's going to tweet out a load of technical charts. of things that he's looking at every morning. So yeah, oil rebounded yesterday and in fact the biggest rebound as Trump hinted at a role on a price war. Now, one of the things we want to have a look at here is this is a look at WTI crude futures as a percentage change going all the way back to the beginning of the early 90s and you can see here the moves that we have are just quite monumental in terms of looking back in history, both on the down and the upside. Obviously yesterday moving north of well over 20% in one day and why did this happen I guess is the first question. I mean the actual price rate is 24% is the most since trading began in 1983 and it was on the back of this. Trump was making a lot of comments. He basically said they planned to aid struggling American shale drillers involving buying as much as $3 billion worth of oil from domestic producers who employ 5,000 people or less. Remember as oil came crashing down and it got around to $20 just the other day as it went through 40 earlier about a week or so ago that was when people were coming particularly interested in monitoring the kind of stressed positions so a lot of these indebted, independent, specifically kind of domestic oil and gas producers given the nature of the fact that they're available, free cash flow is minimal and so when then they go beneath their kind of break even cost price then it becomes particularly difficult for them to continue to operate. That then puts at risk their defaults and bankruptcies and inevitably unemployment rates and so with the US government looking to specifically target these much smaller firms well of course that resulted in some of these if I go on here under the heat map of the S&P 500 from yesterday you can see here the independent oil and gas firms got gains ranging from really 2% on the upside all the way up to 30% for some of the names and you can kind of look at the whole cross section there but those smaller firms really benefiting from some of these comments from yesterday. The other thing if he was talking about here this is a chart looking at the kind of I guess US rescue plan because let's not forget although perhaps beneficial in a consumer sense with oil trading down at $20 even it's not just a Saudi Russia issue in terms of how low this price is for the objective of kind of balancing their books it's also as we've said very difficult for America America can't be there just forever supporting financially these firms are ultimately they need the price to go back higher again so that they don't need to be so supportive in such a monetary way. So here what we're looking at is two lines the black one being the price of WTI Crudeau over the last few years and the orange line is the SPR so this is the strategic petroleum reserve so at any one point in time America basically has a whole stock pile of oil so if the kind of history would be in times of war you have this kind of warehousing or storage of oil that you can draw upon if there's any disruption to supply and the kind of maritime movement of oil. More so now it's used when there might have been devastating natural disasters things like hurricanes for example is when they might release part of the strategic reserve sometimes when the price is particularly high maybe they want to artificially in the short term flood the market in order to bump the price lower here it's quite the opposite and what we're talking about here is the energy department in America basically yesterday said they would initially purchase 30 million barrels of sweet and sour crude for delivery in May and June with plans to buy as much as 77 million barrels in total over time. Stephen Manichin the treasury secretary went even further he said I've got his comment here the greater action to aid American producers on Thursday saying he will recommend to President Trump to ask Congress for as much as 20 billion dollars to keep the strategic petroleum reserve full for a decade so 20 billion dollars. So that's a huge amount of oil and consequently the reason why we have this 24% appreciation in the price of oil yesterday. So yeah I mean when we look at oil let me just transition back and let's just have a quick look at that chart and where we're at at the moment. WTI crude is still rallying this morning and definitely that's helping a little bit as well with the equity bounce which we'll also have a look at the chart in a moment. You can see here the volatility around when someone's this news was coming out so we're just coming up to the 28th hand or at the moment that high on that initial spike yesterday came in at 28, 28 you got the R1 sitting just above. So in terms of the near term price action just having a look here let me this is a 30 minute candlestick that's a pretty significant technical level quite clear to see here. You got that spike high you've also got these lows a little bit of respect for the price action here going back onto the overnight session on the ninth and you can see the initial test break pull back onto that level before the initial push back down again. So as we come higher I'd probably be keeping a bit of an eye on that level going forward. That doesn't detract from the point though that generally speaking yes this is pretty unprecedented moves the US are taking but what I would say is that we still remain quite bearish in terms of the prospects for oil. So even if we did come back up I think fundamentally just given with the pressures that the global economy is going under at the moment it's hard to see really oil pushing for the moment back up to that pre-gap lower that we had which was kind of north of the $40 hand or I think a lot's got to happen before we get to that point the $30 price level as well not just psychological you can see just around that area sort of from here to here there's a couple of there's almost like a zone if I was to put like a rectangle here of price area which I think would be quite a big area or obstacle of resistance that might well constrict some of the upside if we did get through this level at around 2828 in the futures today. So that's the kind of oil situation and obviously from an equity point of view that has helped a little bit just given that kind of industry is set to break down we were just observing on the S&P 500 so here is the S&P 500 and I just marked up quickly before we started a couple of levels here and you can see that we've broken above two key areas here which was the high print we had from yesterday afternoon and then the day before the initial high so that has helped just here the S&P accelerate a little bit here to the upside pretty forceful move I mean these aren't small this is kind of the incredible thing about the nature of the market that we're trading at the moment these percentage changes are very large I mean overnight obviously we had a positive close on Wall Street albeit fairly moderate but overnight in the Asia Pacific Session we had gains in the South Korean equity market of over 7% shares in Hong Kong climbed over 4% so pretty decent lead to hand over the baton to UK and Europe this morning with the oil price still moving up that's what's leading to a little bit of this kind of renewed risk on for the time being looking at the S&P on a slightly longer time frame you can see as well there was a trend line we were just keeping an eye on from kind of the early part of March really you can see the multiple tests that we had a few times early on again kind of mid month again pretty much to the tick on the 16th and also in yesterday's session a breakthrough that now a breakthrough that top end of the R1 and the high from two days ago that just led to a bit of a further acceleration up and probably now going to target up around that 2,500 on any push on the upside anything above that you've got those highs that were seen then that would come in on the 17th and that would be just ahead of the R2 2,542 and three quarters would be levels to keep an eye on there but equity is pretty decent start so far how long that can last I guess or yet to be to be seen let's go back then a couple of other news stories just to finish things off and a few things to mention as well so away from Trump one of the other things here is that in order to ascertain where does all prices go from here Trump has done his thing now he's been very vocal he's talked about the fact that he wants to get involved in the standoff between Saudi and Russia that's fueled up things the purchasing of direct oil as well as potentially topping up to maximize the SPR for 20 years all of this has been very bullish however, the crux of the matter is yet unresolved and that is the situation between Russia and Saudi Arabia and what has Putin said well, Putin has said he will not submit to what is seen as Saudi oil price blackmail now, probably you have here there's a lot of ego on the table now, Putin is a person who's been in power for a long time best part of what, two decades or so and he has this kind of as Bloomberg alluding to this strong man image very difficult for him I think at this point to blink really and show his hand the state budget in Russia which is based on oil prices of just above $40 a barrel will be in deficit this year so that's forcing the government of Russia to tap its kind of sovereign wealth fund in that sense to keep the economy going but again, their state budget is based on the price of oil which is half that of which would be the equivalent of what Saudi need given their quest to diversify their economy given the kind of lack of monopoly that they've got on global oil prices nowadays so here then if Russia aren't biting and we're having this kind of this spandoff between Saudi Arabia and Russia's ongoing yes, we've had this relief about what the US are doing and what Trump has said and committed to however, without Russia and Saudi really fixing this situation and if they continue to compete and Saudi deliver on their promise and undercut the market and really ramp up supply well then this is by definition I think a short term relief and we go back down again so yeah, whether or not Trump can get involved into the geopolitics and start to really put some pressure on Saudi and maybe open the dialogue with Putin that's probably another thing to be aware of but I do think that the overall catalyst here remains unresolved and so any push up as we just looked at some areas there some top side kind of decent points of resistance in the crew chart I think they'll hold for the moment until we get more out of that quickly update on the coronavirus situation obviously you've probably seen the news deaths in Italy now outweigh that within Mainland China that irrespective of the fact that total confirmed cases are pretty much half of that of what is actually being reported in China thus far the chart of course which we've been looking at a number of times is this one which is the just exponential growth of the number of reported cases outside of Mainland China where there in the Far East as well as in countries like Japan, Singapore and Hong Kong pretty similar kind of flatlining in the curve if anything has seen periods of cases declining quite the opposite still in Mainland, Europe and in the Western world in times of the United States or America for example cases there now just short 15,000 and obviously still on the monitor for how this develops going forward what have China said well they have talked about further room for further reserve requirement ratio cuts I think that's totally as to be expected this is just their commitment other than the government but from the PBOC in order to do everything that's necessary to make sure that there's ample amount of cash and liquidity for commercial banks to operate freely and then we've had ECB's Christine Lagarde she's come out and she's basically talked about the fact that they're fully prepared to increase the size of their asset purchase program they're willing to adjust the composition by as much as necessary basically for as long as needed she actually said that we would explore all options and all contingencies to support the economy through this shock so again very reminiscent from back in the sovereign crisis that kind of infamous phrase of we'll do whatever it takes I mean literally they're not only doing that by adding say 750 billion euros in the top-up of their existing asset purchase program that we heard the other day they said they'll consider raising self-imposed limits on asset holdings and yeah literally doing whatever it takes and so this will help kind of stabilize the situation if only it can then really get into the psyche of the investor that you know there's and if we believe then that they will go to no end in order to mitigate this potential global event that we're facing well then remember we're trading future expectations and if we can believe that then you know we can't fail then at some point there's going to be a bottom now on that point usually theoretically what we look at in markets and this is kind of what we would have done in the financial crisis back in 2000 I guess post financial crisis 09, 10, 11 we would look at you know where what's the signal to buy the dip because obviously this is a big question the S&P 500 and things like that they've seen a really quite radical pullback but when do you buy in and obviously is it now or do we go further it's hard to tell because you know one side of the table we've not actually seen the material impact this has had yet on businesses you know businesses are on red alert standby right now a lot of them in the UK at least don't even know what's happening in reality and so whether or not they need to streamline restructure, lose staff all of that is going to happen basically over those decisions the next one, two, three weeks so perhaps then we might see a little bit more downside to come however in traditional times what we would look at is improving macro data and the way that we do that maybe by one simple indicator would be something like a PMI the Purchasers Managers Index more forward looking soft data where we get a sense of when when is general sentiment start to be picking up because then that could give us a kind of lead indicator of that happening however now I'd say really people aren't so much looking at that I think what people are looking at, we've mentioned this before and it really is this chart I mean it's the chart about this yellow line here and when does that start to become more shallow and in fact plateau like what we're seeing in mainland China I think any definitive pattern of that then starting to hit or come in towards its peak I think that will be a key signal then in combination of course with governments being able to continue to really stump up the cash in order to stimulate economies is going to be the telling sign of that moment of when that potential opportunity might come in that respect finishing off a quick look at the calendar just to wrap things up there's not really a great deal coming out today I mean existing home sales coming out of the States there is a couple of sovereign updates coming out for the likes of the EU, Moody's and S&P on Spain you do also have futures options expiry on all of the European US indices today and so a couple of things there to be aware of here in the expirations but overall it remains the same in regards to what you're watching in financial markets at the moment is still the ongoing sensitivity to the coronavirus if we're looking at say general markets this morning yeah the DAX is up nearly 500 points US index futures a decent move high already crude is back up $2 and you can see here crude already just now having a bit of a first resistance at that key technical point so you can see people just chasing the market up to that level which we were just looking at and it's just holding for now 28, 28 it's going to be quite key probably we won't break that until we get into the full swing at the US session whether or not they want to take that lead and push it back up higher but bearing in mind that we were rallying from incredibly low base from yesterday so we're already up a good seven bucks or so so be interested to see how that behaves in the North American hours all right that is it for the moment again we are going to continue with these but please do subscribe if you not already have done so and please do share our kind of link or our channel we'd hugely appreciate it it means a lot when you guys are leaving comments and stuff like that as well and obviously going through these challenging times for everyone will try to do the best we can so stay healthy, stay positive and I'll catch you guys on Monday all right thanks very much