 Hello and welcome to the Monday market update video with me, Dave Madden. Today's date is Monday the 25th of June and the time has just gone 11.40 British summer time. Well, the big news in today's session has been so far that European equity markets are in the red and US index futures are pointing lower too. This is all down to heightened trade tensions between the US and China. President Donald Trump has stated he intends to restrict Chinese investment in US firms and in particular in US technology companies. What there is talk that this is down for this is going to be introduced for reasons of national security, but nonetheless, it does add to the heightened tensions between the two sides. Bearing in mind, at the back end of last week on Friday, President Trump tweeted that he could be looking at imposing a 20% tariff on all cars imported from the European Union. Bearing in mind, the German car manufacturing sector is almost like a barometer of European EU manufacturing. So traders are viewing the actions between Washington DC and Beijing as a warning sign for what they could be in for in relation to politicians in Brussels. Also, the news is we've seen a retrace in the price of oil. The oil market had a very good day on Friday after OPEC announced it plans to increase production by one million barrels per day. In reality, that could actually turn out to be about 600,000 or up to around 770,000 barrels per day of an in real terms, in terms of output, increase in output. Going into the meeting, there was talk that we could see in real terms a million barrel increase or over 1.5 million barrels increase. So now that in real terms, we're looking at somewhere between 600,000 or perhaps 770,000, it was disappeared to be better than expected or lower than expected. So we saw oil surge on Friday and on flip side of things, we've seen the oil market has drifted lower in today's session. Taking a look at what we have in the week ahead, which we found on the news and analysis section of our website. Scrolling down here, we can find out what are the corporate and economic stories. So on Tuesday tomorrow, we have a copyright, a failure figures out on Thursday. We have fourth quarter figures from Nike on Thursday and Friday over in the US, we have first quarter GDP and the core PCE numbers On Friday, we have first quarter growth from the UK and on Friday, we also have the Eurozone CPI figures out. So these are the highlights of the corporate and economic events of the week ahead. So taking a look now, I'll cover the markets and see how things have been playing out, starting off with the FTSE 100. So as I pointed out in recent videos, the FTSE 100 had an excellent run between mid-March and mid-May. Ever since then, the market has been coming up ever so slightly. So we have seen what could be the beginning of a wider correction because even lower low here, a lower high and a lower low. But while we were in north of this area here, 7,550, we could look at holding our ground and we could look at retesting 7,800. And if you go north of 7,800, we could be looking any back up towards 7,900. But if you do take off this area here, the 7,550 area, we could be looking at taking us back down towards 7,482. And if you go south of that, we could be looking at getting back down towards this red line here, the two-day moving average, which comes as a play at 7,446. Take a look now at the general market. And as I mentioned, the general car manufacturing sector is under pressure. Given that President Trump tweeted, the public can get slapping a levy on your EU car import into the US. And given that what's going on with China at the moment, Brussels politicians are probably thinking they're next in line for the Trump treatment. So we can see here that in recent sessions, the tax to the general market has been under a considerable bit of pressure. It's pushed down here today to a level not seen since late April. If you take a look at the market histogram, the market indicator, we can see that there's a steady increase in positive and negative momentum while the market is drifting lower. So the market is pushing lower. That's been confirmed by the steady increase in negative momentum. So the momentum is with the sellers. If we do consider the drive low from here, we could be looking at targeting the late April low, which comes to the play here in around the 12,300. And this area here of 12,300 is roughly the area. And if you go south of that, we could be looking back down towards 12,000 the figure. And then if you go south of that again, we could be looking back down towards the lows of the year at 11,692. Moves to the upside could run into resistance at this red line here. The eternity moving average comes into play at 12,788. As I mentioned, we're expecting a lower start on the Dow Jones when things kick off. So as you can see here, the Dow Jones was broadly moving higher for a number of months there. We saw a steady series of higher highs and higher lows. We have seen the market could get caught up in the trade tensions as it has been drifting lower in recent sessions. Once again, if you look at the market indicator, we can see a steady increase in negative momentum. So as the market is drifting lower, we can see that being confirmed by a steady increase in negative momentum. So if you do continue to push lower from here, we could be looking back down towards this red line here. The journey moving average comes into play at 24,343. And if you move south of there, we could be looking back down towards 24,000. And if you go south of there, we could be heading down towards this trend line support. If you draw a low between the lows of February through April and also May, you can get this trend line support here. And if you do manage to drift south of 24,000, we could be looking back down towards this trend line here, which we're going to play roughly at 23,825ish. Move to the upside, which may run into resistance at 25,000, a big psychological important number. And if you go north of that, we could be looking back up towards the June highs in the region of 25,350ish. And if you go beyond that, we could be looking back up towards 25,507. And north of that, heading up towards 25,821. Take a look now at what's going on in the oil market. Like I said, we had a major move to the upside on Friday. We are seeing some of those gains being handed back. Well, the big picture for oil has been that we're essentially from 11 or 12 months, you've seen a major uptake in the price of oil. And now we finally have this OPEC meeting where there's going to be an increase in production, but the production increase is widely believed smaller than an oil market dissipated. We could see the price of oil drift lower potentially. We could see a bit of a further pullback. Notice how in recent weeks we're beginning to see what could be the start of a trend lower. So we've seen that a lower low, a lower high, a lower low, a lower high, a lower low. And now we're still kind of in the in between period. If we do manage to drop below this level here at 72, Spot 38, it could take us back down towards $71 or perhaps even down as far as $69. If you do manage to push on higher and if you manage to retake this blue line here, the 50 moving average at 76, Spot 05, we could be looking any back up towards the recent highs of just more than 77. And if you go beyond 77, we could be looking any back up towards the late May high of 78, Spot 98. That was Brent taking a look now at WTI. WTI has had a larger bounce back, had a much larger bounce back on Friday and has given up only relatively speaking a smaller amount of ground. So while we hold north of this blue line here, the 50 moving average, which comes into play at 68, Spot 19, we could look at actually retesting the 70 area or perhaps even the 71 area. And if you go north of 71, we could be looking at trying the May high of 72, Spots 79. Move to the downside. The areas where I'm trying to keeping 0 for will be the late June low of 73, Spot 65, sorry apologies 73, Spot 58. This area here, if we take out that. That will be creating a new multimodal low that could take us back down towards the early April low of 61 spots 78. turning attention out of the currency markets. The year has been in a steady downward trend versus the US dollar since April It's been quite a quite an impressive how much how much ground the US dollar has made in recent months We are seeing though a bit of a trading range in this area The top end of one spot 1851 for the lower end of one spot 1510 We're kind of almost right in the middle of the trading range at the moment But while it remains south of one spot 1851 It's likely that that the that the bearish trend is going to remain intact I could take out the recent loads of one spot fish one spot 1510 The next moves of it. It keeps keep out of the downside will be one spot 14 If we do manage to breaks north of one spot 1851 and they keep on that for will be the 120 level and Finally turning our attention to the pound versus the US dollar in a similar situation here We've seen the pound is ground versus the US dollar for over two months now Once again, we've managed to create multi-month lows on Thursday last week In a seven month low, but we have much to come off those lows But once again until we actually take out the early June high of one spot 34 72 It's likely that this downward trend is going to remain in place If you break if you take out the the recent low of once by 31 or two It could it could bring 130 into play But if you do manage to take out once by 31 72 We could be looking any backup for us between moving average which comes into play at one spot of 36 or one Well, that's all for me this week. Thank you very much