 Hi, good morning and welcome to today's products and focus and what most traders are looking at this morning is that surprisingly robust data coming out of China trade balance much better than expected with a number of traders already questioning the reliability of that data as it came in at just the right time to give support to the Chinese stocks. But nevertheless, the markets have taken it in the stride. We've now posted two positive candles in most major markets and things seem to be kind of stabilizing ever so slightly. In FX markets, we are beginning to see an unwinding of the safe haven assets. Japanese yen is down, the euro's lost a bit of momentum and that's in the back of the carry trades unwinding as risk-on seems to return back to the markets. We're seeing a little bit of dollar buying at the moment and the sterling as well has managed to get itself a little bit of a rebound following yesterday's disastrous move really. UK and manufacturing output plummeted, missed expectations by a massive degree and that caused a really strong sell-off especially on cable and there's been a slight rebound this morning. But we'll get a chance to have a look at that in a second when we have a look at the charts. Crude oil as well, very, very much in focus, trading below $30. Yes, to the albiet only for a very short period of time, that kind of came up with many trader screens as quite a major psychological level that was broken. We are trading a little bit above there right now, maybe $30.20 and that's a little bit in the back of the 10 US sailors being detained by the Iranian Navy. Apparently one of their gunboats broke down in the Persian Gulf and they got picked up by the opposing military forces. So they're apparently going to get released at some point soon along with all their equipment. But I had a little bit of tension last night when that happened but nevertheless crude oil still very much in focus but we're not seeing any massive spikes in the back of that hopefully minor incident in the area. But without further ado, let's go ahead and have a look at the US 30 and the rest of the major products and very interesting technical levels for us to look at in the backdrop of all of these fundamentals as well. So let's start off there with the US 30. You can see that we managed to have a positive day yesterday, another positive move so far today. 80% of CMC markets clients by position value are currently short in this market so they're hoping that this rally is going to be short-lived. We are in the middle of two ranges right now 16708 and 16476 and the other technicals are actually the RSI is giving a buy signal right now. The other technicals are relatively neutral and we're quite far away from those moving averages. So a lot of eyes having a look at that US market just now and it's very interesting that it's trading so close to the top of its range at the start of the day. So traders are certainly taking that Chinese data as a reason to get back involved in the longs but we have come off a lot in the last number of sessions. The question is, is it a dead cat bounce? So looking at the UK 100 and what we're seeing here is again a very strong move. Very interesting kind of doji formation that we would have had yesterday. We did manage to have a positive day but only just but we've gone great guns this morning. 64% of CMC markets clients are currently long. The other technicals are currently neutral. Moving on to Japan 225 with a beautiful bounce of that support level. We had that on Monday. Had it again there on Tuesday and we're moving a little bit higher this morning. The RSI is giving that buy signal. The slow stochastic is still currently oversold not yet breaking back through that 20% level but we have a massive 98% short position by CMC clients. So it seems to me there is some big money that thinks this move is currently fleeting in nature. Moving on to Dollar Yen. Dollar Yen having bounced off one 16 spot 80 there on Monday. Dollar information yesterday. Another big move this morning as I said the yen is getting unwound at the moment of the safe haven asset. 54% of CMC markets clients are currently long showing a bit of indecision. One 18 spot 33 is a potential resistance which is where the market is currently trading right now. Let's have a look at West Texas. So we discussed yesterday that we did trade below $30. We had a rejection of that level to push up higher. We were much higher actually. We were in firmly positive territory. Sold off a lot towards the end of the session. With the top end of the range this morning, 92% of CMC markets clients are currently long. The RSI is close to giving a buy signal. Slow stochastic isn't really doing anything right now. To be fair, 31 spot 57 is a short term potential resistance. You can't really get that excited by gold again until it breaks above there and there's a big question marks if that's going to happen today. So then having a quick look at gold. Gold's not been having a great last couple sessions. Four sessions in a row is coming off. Very surprising. One okay safe haven asset I would expect it to come off a little bit today but everybody's down playing interest rates in the US. I would have thought we would see more moves in gold. 67% of CMC market clients are currently short. So they're obviously quite happy about this move that we're having just now. We're trading below the 55 period SMA. We're coming up close to the 21 period SMA. The other technicals, well the MACDs, the histogram is getting shorter. It's getting close to breaking the zero line as well. Whereas the RSI and the slow stochastic are not really doing a huge amount right now. But we are at the bottom end of gold's range at the moment and I'll be interested to see where that goes just now. Again, surprising that it's retreating so aggressively and all those, the backdrop of those fundamentals. Looking at the Euro versus US dollar, you can see we're back on potential support at one spot 0810. We're pretty much on that level just now. We'd be trading below both moving averages. CMC markets clients are 77% short by position value and other technicals are relatively neutral. If we break below one spot 0810, we'd be looking at the tips of these candles has been the next potential support and failing that one spot 0660, which was a support level from all the way back in April. Could be a descending triangle formation. One thing to watch out for. And then if we look at GBPUSD, you can see how far we fell out in the back of that manufacturing output number. We did have a recovery. When I last looked at this, we were in positive territory actually for the sterling versus US dollar. It's gone back negative again. You'd be looking at the tip of those candles being short term potential support followed by one spot 04230. One last quick look at the economic data. You can see the trade balance data that came out much better than expected in China. So far today, we've got the petroleum report. That's going to be very, very useful. Obviously, if you're looking to trade crude oil today and then tomorrow gives you the UK interest rate and the US unemployment claims. Well guys, that's it for me. Join me again tomorrow to find out what happened next. Thank you very much and bye bye.