 Hi, hi, good morning and welcome to today's products and focus Most global equity markets a little bit of a backseat last night with the US They're actually drifting a little bit further down as a dollar managed to rally against some of its other Mages out there and the market is basically waiting for a lot more Mako day before it makes its next decision So we had a whole host of PMI last night, so the PMI figure was actually okay UK The inflation date came out at zero the lowest as records began a lot of that is still attributed to the Really low oil price and the effect that that's having across most their production aspects of the economy as well so we're almost getting a kind of a Head and shoulders formation here potentially certainly we have a top here and a lower high We are drifting a bit lower just now. That is also the 21 pure to FMA You know if you look to this in a weekly standpoint that could be one shoulder That could be the neck and that could be the start of another shoulder with a break Potentially down that this way, but it's not happened as of yet But Neil to see 17 895 will be the next potential support if the 21 pure to FMA is broken Most of the technicals are relatively neutral as it still has a little bit of room for maneuver on the daily charts It looks a little bit weak just now. It's only down a fraction But following on to the last couple days. That'd be the third day down in a row. So looking at the UK 100 Kind of graveyard doji formation right here We got to about 76 7,000 and 60 yesterday and we drifted down again a little bit today So you could be looking at seven thousands being a new potential support level It was a psychological level that that was broken there this week I'll put that line on there for now with six nine sixty four being an x potential support And that certainly was a broken resistance now Certainly expected to act as potential support to the markets moved a little bit lower again Most of the technical indicators are relatively neutral right now and the UK 100 might take lead from the other markets So looking at Japan to do five getting closer and closer to 20,000 6868 or certainly closer to breaking 20,000 Anyway, which will certainly be an event that will be covered in the local press in Japan We have been down lower today dollar yen Really going a little bit sideways right now as ever still kicking round about 195 I Think the the Chinese market have done okay as well. I think I'm at the Chinese markets are about 55% from last November when the The Chinese government embarking big stimulus package and that's helping to obviously drag Japan to do five up with it as well Who are who had been embarking in their own stimulus package for some time? So moving on to dollar yen Don't do it and you can you can see the kind of pathways. It's been going over the last couple of sessions Certainly over the last couple of months. It's been moving in this kind of this wave formation right here Where it's beginning to flatten out. We have broken a potential trend line right here with the support We're in about 119 still in play, which also coincides with 55 period SMA Most of the technical indicators are relatively neutral as well. So 119 would be the support level to break Moving swiftly on to West Texas We give cruel inventories due out today 43 29 is still a potential support on West Texas We've had three positive days in a row. That's the first negative day that we've got obviously posted negative day as of yet but You know down trend still very much in and play But there has been some decent days the last couple of days But almost got a bullish cross on the MACD almost got an oversold indicator and so stochastic with a potential reversal Whereas the RSI is relatively neutral right now Today should be interesting for the cruel inventories the last couple of times cover the last two weeks come out It's actually been quite high, but the crude price is still increasing value. So that'll be one worth watching later on today Looking at gold gold is now comfortably above 1186 which could be a springboard for re-challenge of 1218 We're trading above 21 period SMA. We had this this Kind of cross right here on the RSI and the slow stochastic So certainly from a technical perspective that had a good run It's all about Interest rates in the US and looking at gold well there won't be certainly for less of spiking up is living later rather than sooner Finishing up with you with dollar and GBP USD your dollar Doji formation graveyard doji formation again last night through above the 21 period SMA Really looks like one spot 11 will be a resistance level that will be in play relatively shortly We're moving on the upside again. It's quite quite volatile instantly So the dollar did have a little bit of a rebound yesterday getting a little bit of strength against the majors But your dollar is back on the up this morning and finish up with GBP USD The Definitely took strength away from the from the dollar certainly took strength away from the sterling that inflation data as well Coming in at zero didn't help to add strength to GBP USD But looks like one spot 4813 is going to be the potential support level I think one of the Bank of England's committee members said last night that she believed that the next rate Element would be a hike rather than a cup following on from some Kearny's Previous comments that it could be one or the other one Kearny is another Bank of England member in fact But that gives you better an idea where we are one spot 4813. This is the level to be aware of in today's Trading environment. So I come a day wise you got German IFO business expectations You got durable goods orders that should be quite quite good But make sure you've got your alert set for that Let me just set a recurring alerts don't miss it Of course, you got your crude oil inventories, which are widely expected to come in at record highs So keep you on the chart for whatever make insights popular going forward and join me again tomorrow to find out what happened next