 Hi, good morning, and welcome to today's products from focus the big news is all about crude oil as ever and the latest news that Iran is open to discussions regarding the recent production freeze that was talked about by the old peck members now What's in it for Iran? They want to get a higher quota of that production freeze Otherwise they're not really going to be interested. So yesterday we saw crude oil get a massive jump higher West Texas currently at $31 and what many commentators are talking about is a fact that the crude oil Producers have rolled over in their war versus the US fracking industry now That's what the crude producers always said that it wasn't like a political battle between the Gulf States and Russia and all the other nonsense it was purely about putting the fracking companies out of business and In the US and what we've seen in the last two days actually is a big massive upswing and those fracking companies Warren Buffett being a big investor bought at the low He must be very high today as they began to see a lot of big gains there Now what is obviously putting a cap on the gains on crude oil itself is the fact that there isn't actually a deal just that the Iranians are open to talking about what their contribution is going to be and they're obviously there is this commitment about this production freeze Which to be fair the production levels were already at sky high levels anyway, but nevertheless a very interesting turnaround Very interesting set of developments now and we have seen massive gains across Many stocks in the fracking sector and that spilled off on to other global equity markets as well the UK 100 UK 100 particularly Getting a lot of extra traction from that news as well because obviously we have so many oil stocks and everything else So let's go ahead and have a look at things from a technical perspective of course starting off with the US 30 So as you can see there massive bearish and gulfing pattern there breaking up towards 16 4 60 We just ticked ahead a little bit above there You've not had a lot of follow through so far this morning 84 percent of CMC markets clients are currently short So they're anticipating that it might that the rally might not continue Moving on then to the UK 100 another big massive move to the top end breaking through that potential sloping trend line Getting close to 60 70 as a potential resistance level 71% of CMC markets clients are currently short Moving on to Japan 225 Look at that. We are almost at 16 384 that has been a potential resistance level for quite some time And there's an exciting level to have but we've not broken through it quite yet 73% of CMC markets clients currently long We want to break through 16 3 8 4 to then re-challenge 16 8 96 but that would have to have to break through that 21 period SMA We do have a bullish crossover in the MACD to be aware of as well moving on to dollar yen It's not really doing a huge amount FOMC minutes last night said basically they were concerned about the Global financial economy and we had that might spill over on to America Basically, the dollar has flatlined across most major markets dollar yen. It's no exception. It's not really that exciting at all Moving on to West Texas crude. This is where we are a little bit more excited Look at that big move to the upside there finishing at the top end of its range and use of that of that Iranian not really a concession they've not agreed to anything yet just that there I'll think about it They've not said no basically 59% of CMC markets clients are currently long We've broken above that 21 period SMA could be capped by the 55 period But nevertheless fundamentals are a little bit more exciting going forward moving on to gold gold bounce beautifully On Tuesday continued its move on Thursday on Wednesday. Sorry Thursday is not really doing a huge amount Based on the FOMC minutes last night I wouldn't be that that surprised to see a little bit more interest in gold later on I think 1191 is just an interesting springboard regardless if it's a time now or later. That's up for debate Obviously if we break down below that you could be looking at a move towards 1131 Then finishing up with the FX pairs. You've got your dollar Slumping again lower one spot 1105 looks to be a strategic potential level This could be either a springboard for a move back up higher or a move lower depending on your view seems your clients Obviously are bearish they've got a 59% Short view building. I'm finishing up there with GBP USD Not really doing a huge amount trading between two ranges one spot 42 28 and one spot 43 35 if you have a quick look at the market calendar as ever because we do like covering this in our session CPI from China nothing really exciting You've got unemployment claims from the US if you're trading crude this petroleum data Inventory is going to be important today and then to finish things up. You've got UK retail sales US CPI and Eurozone CCI to finish it up Nothing over the weekend and then Monday brings you a PMI data from Germany and the Eurozone Well guys, that's it for me very good with your trading and join me again tomorrow to find out what happened next Thank you very much and goodbye