 Hi, good morning, and welcome to today's products and focus and what we're seeing right now is a very interesting response Perhaps not really that unsurprising really in regards to the lifting of Iranian sanctions for of course crude oil has immediately Dropped again first thing this morning down almost 3% So West Tech West Texas crude almost hit $28 first thing this morning Whereas largely we are seeing the Chinese stock market stabilized We did see a bit of a sell-off in some of the Middle Eastern stocks on over the weekend Mainly obviously led by by Saudi Arabia. So a little bit of uncertainty in that area as that kind of new flood of the Iranian oil begins to potentially make itself felt now. What impact does that actually going to have kind of longer term? Well, obviously you now have a large number of new crude oil barrels getting entered into the market and What that could do is cause a move towards closer down towards $20 a barrel Because we're only we're already close to 28 right now. So the next potential support is running about $27 We break $27 and then things get a little bit more Exasperated because there's not a lot of other support levels to look forward to on that way down So already there's a large number of global energy stocks that are very precarious they're very close to the edge of the precipice right now and Should that oil price begin to push down towards 25 24 23 22 There is obviously a limit to what these companies are able to to afford and put up with and it could cause a series of forced liquidations across the energy market Which could have quite big ramifications for global indices at some point in the future And that's obviously something that should be worrying a number of traders who are looking at the global indices for a new opportunity now We're not at that stage as of yet. There could still be stabilization to be found obviously crude oil prices have dropped about 70% From their from their highs from a number of years ago So there is buying interest at these low levels, but we have been looking at a situation where Storage space is becoming hard to get by the volatility and the crude market in one minute It's up 5% next minute It's down 8% is making a number of people very very nervous So sticking with them moving on sorry to to China for a little second Moving away from crude oil because there is a little bit negativity out there right now in that regard and it is well-founded But China is the short-term one that you should probably keep your eye on because tomorrow also brings with it Chinese GDP retail sales and industrial production and that in itself can have Quite an impact on the global indices market as well So even though the markets can stabilize first thing this morning the most Chinese data results They come out about two to three a.m. UK time So that's just something to bear in mind, but nevertheless that gives you an idea of the kind of the overall picture It's all about the return of Iranian crude to the market and the impact that's gonna have in West Texas And of course impacts gonna have there on Brent as well And what the Chinese data is gonna come out as tomorrow now? I think a number of traders are probably gonna expect that data to come out slightly better than expected because you know the China The Chinese they could really do the data being particularly good right now So I wouldn't be a tall surprise if it came in Smidgen better than expected if it came out terrible I think that would be an absolute shock to the market and that could cause a little bit of extra volatility But nevertheless, let's go ahead and have a look at the major markets from a technical perspective Okay, so as ever we like to have a have a look at the US 30 and We have had a kind of a bounce close to 16,000 69% of C&C markets clients are currently short on this market right now as well so that's totally worth bearing in mind and You can just see that we're pretty much bang on that level right now next longer-term potential resistance 16,476 So that's where we currently are for that market with the the slow stochastic and the RSI still just Well, the RSI is just below that 30% level. It's not yet ticked up Whereas the the RSI is just that little bit lower there as well Okay, moving on to the UK 100 You can see that we have had this this this bounce off the 5769 They're on Friday now. We're already off the session lows on the UK 100. That's a little bit disappointing So it didn't manage to spike back up, but then it's been pushed right back down If I actually just go ahead and have a look at the combined view 72% of C&C market clients are actually buyers off the UK 100 at these levels and it's a little bit unfortunate That's already getting pushed back down Moving on to the Japan 225 75% of C&C markets clients are currently short this market We're in between two ranges 71 72 as potential resistance and 16,440 as potential support again We have been higher and it's beginning to slide at the start of today's session Moving on to dollar yen 55% of C&C market clients are currently long in this market We do have potential support at one 116 spot 80 It managed to bounce off there last week. It did it again there on Friday It's tried to do it again so far this morning It has been a little bit higher, but yen buying seems to be coming back into the equation as markets begin to As stock markets begin to slide first thing moving on to West Texas You can just get to see the state that move it was down $28.20 you can see we're at 2860 right now And that level of 2673 I think you actually have to go on to almost like a monthly chart to begin to see where those levels are But that shows you where we are that would be that point right there And we are just a little bit further away from there very ugly month the candle that we have on West Texas as well Let me just quickly net back on to my daily candlestick for that for there You just see that we we are not a million miles away from there right now But $28 is an inbound so moving on to gold 67% of C&C market clients are currently long We've almost got a golden cross on the moving averages which should be seen as quite bullish the MACD histogram is flattening out So we've almost got a negative crossover on there That's quite unusual actually to get to get a golden cross on moving averages But then also nearly get a negative crossover on the MACD while the RSI and so stochastic are still relatively Static at the moment. You can see that golds try to rally up. It's been pushed back down Again yen seems to be the safe haven of choice Was very interesting about gold as ever is interest rates in the US just are probably not going to be as Prolific as what some of the Fed members would have thought they've been quite a hawkish before in the past It's really surprising that gold just isn't getting that acceleration You've got the US dollar potentially not getting that extra boost from you know There's four plus interest rate hikes that they were Banding about the start of the year, but gold just can't seem to get any love right now 67% of seem to mark us clients are currently long so finishing up with your dollar and GBP USD and with your dollar They're really strong move on the Euro there on Friday's been pushed back down this morning Potentially bouncing off that 21 pureed SMA. We're still inside this kind of potential descending triangle formation So there's not too much to talk about 67% of seem to mark us clients are currently short and then finishing up with GBP USD This is beginning to look a little bit ugly So really horrible day there on Friday We've got not much action so far this morning 142 30 is the next potential support With an x potential support all the way down at one spot 35 10 What's about 35 11? Sorry, that would be particularly catastrophic for the GBP USD 92% of seems to mark clients are currently short and I think tomorrow we do have UK CPI We've got Eurozone CPI German CPI and the ZEW business report so I can I give you a bit of an idea of what to expect But remember it's overnight tonight. My fact. I've got my economic calendar right here There's no economic day today. We fast forward on to tomorrow and as you can see there This is the Chinese data that you really want to be aware of, you know I don't expect many traders to be up at 2 a 2 a.m But these could have quite big ramifications on the markets for tomorrow. Well guys That's it from me very good luck with your trading and why don't you join me again tomorrow to find out what happened next? Thank you very much and goodbye