 Well, I'd say first and foremost, let's pull up cable here because this is some quite dramatic moves that we're seeing in the British Pound. The news over the weekend that Bojo Boris Johnson is going to lie himself with a vote leave campaign for Britain leaving Europe has really sent the British Pound tumbling. So now we're running right into, as you can see, this is down here at 14080. This is the January lows and if we pull right back out to the monthly chart, you can see it's pushing us down through these lows from 2010 down to the lowest since 2009. We're in February at the moment but these lows were posted in March of 2009 so quite a number of years here since we've been down at these levels. Probably debatable whether a move down of this magnitude is justified by Boris Johnson joining the leave campaign but nonetheless you can't fight the ferocity of this down move here by most markers if we have the daily chart up. We can see we're posting lower lows on the weekly chart, lower highs and we've rolled over from this previous support from these lows back in April. So the very real prospect of a double bottom at this 141 area but obviously should we take out the lows which would maybe be a bit of a stretch today but it's possible. There's a lot of momentum here. Push through these lows, maybe even push into the oversold territory on the daily RSI could signal a bit more further down side to go. I guess one thing to sort of bear in mind here is that this is not a widespread fear of Britain leaving this Eurozone. I'd say it's probably fair enough to say that Boris Johnson joining the out campaign has definitely shifted the likelihood of Britain leaving Eurozone a few percentage points, potentially a game chain. He's one of the few politicians that is actually known and liked from the British public. Can't say many British politicians are known on a first name basis so it's pretty significant but nonetheless still I think you've probably got to say that the most likely result still is that Britain probably does vote to remain in the Eurozone. People will just use a safer option unless there's some really obvious reason to vote against the status quo, we're probably going to stay in and then the fact that it's still four months away so Cameron's obviously announced that the referendum is going to be on June 23rd. That's four months away so it's quite a long period of time between now and then which to start pricing a British exit so you've got a way up when we pull over to this monthly chart again, when we're down at these levels, look this is the range that Cable has been in since the financial crisis. It's pretty much been 140 on the downside to 170 on the top side so if we are pushing much lower we're really pushing into the bottom half of this trading range and at some point in time probability suggests that we're going to find a base. So we're hitting oversold levels for a second time here on this monthly chart. Obviously in 2008 you know there's evidence enough of how oversold you can get and stay but that's an extreme situation. Probabilities again so we're probably in for a bounce at some point but certainly a bit early to call it at the moment but as I said it's not only a widespread fear at the moment. I'd say it's more, my take on this is more being more concentrated in the currency market because of its implications for any likely moves from the Bank of England. I mean I think it's probably pretty safe to say now that the Bank of England is unlikely to raise rates before June 23rd so pretty much not going to be raising rates in the first half of this year. Obviously the Fed have already hiked rates. Data dependent on whether they actually do so again next month. We did have some slightly higher inflation and wage data from the U.S. so perhaps a bit more chance of the markets giving the dollar credit for. We're seeing a bit of a push higher across the board in the dollar today. So that divergence starting to spread out again potentially with the between the U.K. and the U.S. in terms of timing on the rates. But if you look at the FTSE 100, well the size of the up today along with the rest of Europe and along with U.S. futures and then if you look at Guilts pretty much flat so no real evidence of concern across other markets. More I think that sort of Bank of England rates divergence take on the influence of Brexit that's hitting the British pound. And as we mentioned potentially a bit overdone the move in the pound. So all on that topic let's switch gears to equities now. One of the things that's been holding the U.K. 100 in our proxy for the FTSE 100 obviously back for the last few years is its dependence on mining companies and oil and gas. Obviously that's been particularly prolific in the last few months with a massive sell-off across most commodities. But we have closed higher for the last five weeks in the FTSE 350 mining index and that's been quite supportive of the FTSE 100. So it's actually been the best performing European index this year and it's largely as a result of that outperformance in the miners. And so you can see looking at this chart here we basically, and I mentioned this in last week's webinar, that we basically tried to push through this January 20th low. This is basically a fail breakout. Yes, we've made a lower low but only for one day and then we broke massive back to the top side. And so, you know, you'll see an equivalent here in the, a bit more of an obvious equivalent in the S&P 500 in the U.S. This is tantamount to a double bottom. We haven't personally bounced off the previous low like a double bottom but this is a fake out to the downside. And so we had this declining trend line. It's obviously not really valid because it's only two touches but nonetheless it'll be widely watched. You could say it's three off here with slightly dubious connections. And so here we only ticked down slightly in the FTSE 100 even though oil prices dropped a fair bit. I saw a U.S. oil drop below $30 again last week but, you know, UK actually has held up pretty well. And if this looks like it could be the making of a break above this trend line and I would say that would probably be the first move towards an eventual break of this trend line and then a push back up potentially to the December 30th and the 200 DMA. And then we've obviously got that fairly clear cut resistance above at the $6,450 mark which was pretty much the highs through October, December before we had this latest sell-off. So obviously, you know, we've got to watch the headlines for the Brexit details but for the moment I think the risks surrounding a Brexit run pretty counter to the narrative that actually commodities potentially basing a little bit at the moment and helping mining and oil and gas companies push higher. We had that big sell-off in the bank stocks. They seem to have recovered a little bit since then. Obviously, we're at HSBC's results today. They were disappointing but year-of-a-year profits flatten. You know, maybe not as much room for concern as there was just a couple of weeks ago. Now I mentioned the F&P. Let's have a look at that chart here. I mentioned for multiple webinars in a row this importance of the 1800 level. And here you can see even more, I mean, there's pretty much here the double bottom here but obviously we've slightly taken up the low and then a massive short-covering rally on the same day and then the following day as well pushing up, closing above all these closes for the previous three days on this 12th effect. So this was quite a game-changer on February 11th and 12th. And now we've pushed right, and you can see this slightly lower low here because that's quite well with these lower highs here. And it's quite a well-defined double bottom here with a slightly down-slipping neckline and that's right what we're pushing into at the moment. So of course you can get the fake out higher and that could well happen for the time being. But if we get a close for the day above this declining line, I think that's significantly increased at the odds that we get a pushback through 2000 and then back to the 200 DMA in the SP500. And given how negative the sentiment is towards the market at the moment, that may happen quicker than you might expect. If you are of the opinion that we're sort of rolling over here in markets and it's a bit of a, not a fair market but certainly a downtrend, the up moves within a downtrend are always some of the most rapid. So two markets kind of supporting the same idea there. We have a quick look at the NASDAQ. You can see here that, again, we have this up sloping trend line here. A false move down through the low and then a nice reversal for that week and then we pushed higher for the following two weeks. And so here, quite again an extreme example of here was the low. If we look on the daily chart, similar deal. Here was the low, tried to push lower, barely did a long candle-sick wicks several days in a row and eventually just pushed back higher. And so I think here is sort of the equivalent. You can see there's probably a bit of a down sloping line there. But more concretely, if we push through 4300, then again short distance of 200 DMA and then potentially even the top of the range again. So important in this juncture, this is a possible scenario. Obviously sentiment's fairly bearish. The trend is still pretty much to the downside. But some evidence of abasing here across these global equities. And so try not to get too caught up in the negative headlines because actually there's a few reasons I think maybe we're abasing a bit here. This is obviously just a sort of short-term tactical idea not saying that we're off to new record highs and the bull market's back on. But just for the next month, perhaps, he actually thinks could be a bit more positive, potentially, if we get these breakouts from these bases. Now for a jump in ship here to the currency markets, a few things going on here event-wise. As far as the US a bit more concentrated into the tail end of the week. We've got durable goods on Thursday and the second edition of US GDP on Friday. We've also got quite a few Fed speakers, Lockhart, Williams and Powell all speaking on Friday, Bullard talking as well. Earlier in the week, sort of more mid-week, we have Fisher talking tomorrow and US Communism of Confidence tomorrow. But just looking at this euro chart here, if I zoom it out a bit, this I think is significant the move we're taking place today. So obviously we're getting a big drop off in the pound. But again, I think it probably supports this idea of hey, there's just extra weakness in the pound, but actually there's quite a lot of dollar strength feeding into that sell-off as well. We are getting a pop higher in euro pounds. There's certainly a Boris factor here. But when you're looking at sterling and it's biggest drop since 2010, part of it is the dollar side of the equation. Now what's interesting here is this is actually a decent reversal pattern here. A tweezer bottom, as I mentioned in the chart for him. The fact that we've completely failed to push higher from that tweezer bottom and we're breaking below it on the very next candle is a bearish sign. So the failure of a bullish sign becomes a bearish sign. And so the fact that we've pushed through here would suggest to me that actually there's quite well-defined support here. If you discount this push-up into the 200 DMA on these levels, there was a triangle pattern here. Then I'm sure a lot of you have in your chart. But actually if you're looking for a decent horizontal level, it's actually this 1.0980 level in cable just below the 110 handle, obviously, could find a bit of a bid. Now I've actually checked fib levels. If we go off this low here, do a bit on the fly here. We've got the 61.8 just ahead of 110. And then maybe if we go right up the lows, we've got the 61.8 just below 110, more like 109.8, so more like 109.70 looks like. So in that vicinity, if you take that whole move higher, then a little bit of a confluence of potential support in that area to look out for. Probably also, I don't necessarily like the trend lines when the move is obviously already carried away in much higher momentum. It means this trend line has a bit less relevance, but still if we do push through there, then that could be the next step down, and we'll just 109 in the rising trend line and a bit of confluence there. As far as EU data, tomorrow we've got the German IFO, and we've had PMI data today, but otherwise not so much in the European front. We obviously had a lot from Draghi, et cetera, in the last couple of weeks that hasn't really worked too well to hold up the euro. We obviously got that initial break up, but we have been pushing higher since, pushing lower since in the euro. Euro is kind of acting a bit more in line with equities at the moment. You'll notice that the euro and gold both broke out at a similar time. When there's disquiet in markets, a lot of European investors bring money back home, so obviously convert from overseas money into the euro, and so actually we see a bit of a sort of, almost like a haven effect for the euro. Just quickly back to Cable again, because I'm worth mentioning that tomorrow we have the Bank of England governor, Mark Carney testifying at the inflation report hearings, and so that'll add an extra story to the dynamics of the British bound. We are eyeing up this potential double bottom here. Well, we're just testing the low basically. So whether this low holds really sustainable length of time, I would say probably largely rests on what Mr. Carney has to say tomorrow, at least in the short term. And then if we do get a bit of a bounce off the lows, then there will be some other news along the way which will support that move. We do, of course, have UK GDP on Thursday as well. And worth noting that the PMI data from Europe is a bit useless. So just as far as Q1 GDP for the eurozone, that's clipped estimates a little bit, so possibly down to 0.2% for eurozone growth, in the UK we're looking at 0.5%. So highlights a little bit there, the difference in the two economies, and if anything, that's a positive for those voting for the Brexit campaign. Another interesting one in the currency market, just as far as looking at the majors here, Dolly Yen, that was obviously the major mover. Just the week before last, we saw a massive sell-off in Dolly Yen, massive strengthening in the Yen as a flight to safety when equity markets are selling off. But now, as we have posted this sharp new low down to 1.11%, we've seen a bit of British RSI divergence here, suggesting that maybe, for now, the price has held off these two closes down here, about 1.12.40%. A close above yesterday, above Friday's peak, to me would suggest that we actually could be up for a little rally up to the 1.16, form a major support here, which you would expect to be some sort of resistance on the way back up. Now over to commodity markets, large reason why we're up in equities today is rallying the price of oil. Still very choppy in oil markets. Obviously we had that, the main news as far as oil last week was that we've had a joint agreement to freeze production by Saudi Arabia and Russia. Now, obviously freezing production at record levels is not exactly great news for the oversupply of oil, but it's the first time that OPEC, not the first time, but the first time in recent memory that OPEC has sort of joined up with a non-OPEC producing country and formed some sort of agreement. Saudi Arabia is obviously the big one. Venezuela are just desperate and they were the main mediators here. Iran, obviously they're just stepping up production again after years of sanctions, so you can understand that they don't particularly want to freeze production at what's way below their historical standard, but I think you can take away from their support that once they're nearer their historical standard of exports of oil, then they would join the freeze team. Does this really address the supply-demand imbalance? Looking at USVT inventories, not really. We're close to record levels of inventories. We've learned that we actually run out of storage in the US oil, which is a pretty insane situation. And obviously at that point, do you have no way to store it? What do you do it? You have to sell mega-cheap. And so that could be downward pressure at that point in time. But for a moment, 35, 36 is the ceiling that we've got our eyes on. We've taken out this sort of little shining trend line here through these peaks. We're pushing up into the resistance again, so trend line break, potentially higher-low here. We've had one week and then we had another week, which is kind of looking for a second week above to say that we've put a low in here. And that could all happen together with a push through 36. Now, still pretty bearish sentiment on all, but I think if we do get out of this 35, 36, it shouldn't be too much trouble to get back up to 40 where we could struggle again. But given how, you know, if you look at this sell-off here and you have the bounce back, really no particularly sustainable bounce back since the sell-off really kicked in again in May last year. So if we do get back to 40, I think there will be usually a lot of people covering and we could get another push back up into the, this four here and this sort of just about 45, it's 46. And then, you know, 50 will obviously be the target that everyone starts throwing around. In WTI, it's a bit more obvious. More of a kind of double-bottom scenario. We're here again, one of these fake outs to the downside. Nice little pin bar at the bottom. So we pushed up and the same thing where we've kind of, we broke through a little fake out of the trend line here, but we've held on to this low for the moment. This sort of 29-ish is acting as support and we're pushing back through the trend line now. So I think if we close above this declining trend line, you could adjust it to be a bit more conservative, connect it through the new peak, but push through there probably easily carries us up to 34 and then 34 is more like the game changer for whether we've actually got a, that's basically the neckline for this double-bottom here. Yeah, important not to get too carried away in terms of how far this can go, because if you just scale out to a weekly chart, you know, look at this little squealy bit at the bottom here, doesn't mean too much in the context of this huge sell-off. So these are bigger swings. You know, this was potentially a bottom with these big swings here, but we never quite have to, we took out the low and rolled over again, but it's that sort of size move up from 40 to 60 and the thing. You know, in this context, it would be more like a move up to 40 and then down again before we saw something like a bottom. The likely hit is that we're close to a bottom and it's just going to be range trading conditions under $50. That's my base case scenario, but the good news is from a trading perspective, probably some pretty big moves in the interim. Gold, yep, I will have a look at copper to top things off and I'll just have a look at gold first. Now, this is the short term we've got. This is the huge rally. We capped out at two, this sort of one, 250, with the sort of round number involved. Also, it fit in with this declining channel, especially on the weekly chart here. So now, we're retesting this broken declining trend line here, but I think probably odds on that since we're not following through on this push higher from this old peak, which you can see better on the daily chart here, we've pushed off that old peak nicely. That works perfectly as resistance, broke, support, but we've rolled over it inside the channel and today's move of down 2% is not a great sign. There's still a chance that 1-190 can act as support again, but I would say probably odds are that given the size of the move higher, potential recovery and equity markets, if that plays out, then probably you're going to get a bit of a pullback in gold. I would say the move higher in equities is probably going to be bigger proportionately to the pullback in gold. I think maybe people might just start looking to the 1-150 round number. There's a more random area of potential support. If that gives way at the moment, the 200 DMA is down on 1-130, but by the time we get down there, it could be more like there was 1-140. So look at that 1-140 to 1-150 potentially if we get through this very clear cut support of 1-190. So I'll finish things off with copper. I'd say this is not great, but it's potentially an inverted head and shoulders here in copper. And this is part of what's helping, not just copper, but iron ore, some of these other commodities, it's helping the miners do a bit better in the likes of Anglo-American, top of the 50 today. They're starting to sell off assets. They're talking about selling it to be as headquarters. They're adjusting to slower demand for quantities, and at the same time, the quantities themselves are adjusting to the fact these mining companies are kind of reducing their output a little bit. So I'll say 2-13 to 2-14 is really the line in the sand here. You can see how many touches we've had on that resistance. Really due a break at this point is basically the neckline of the inverted head and shoulders. And I think that would probably take us up to the 200 DMA should we get through that. But taking the height of the pattern, you could do it like that. You do like a 2-3-4, or conservatively the 200 DMA around 230 at the time, maybe as a target if we break through here. Trend is obviously down, got to be a bit cautious, but looks like a bit of a base. That's it for this week's charting analysis. Thanks a lot for your attendance. There's been some interesting moves in cable so far. Looks like it could be an interesting week. Let's see if we get those breakouts in equity markets. Could be a lot of opportunity to the sides should that happen. So good luck with the trading. Thanks a lot again for attending. Sir Jasper Lawler signing out.