 Hello and welcome to the Monday market update with me at David Madden. Today's date is Monday the 25th of March 2019 the time has just gone at 935 GMT We've had a bit of a negative start to the European session We had a major sell-off in Asia overnight That's a lot of ground in the decade to do five in Japan and the Hank saying in sing it in Hong Kong rather Basically the the mood of the last couple training sessions has been quite negative given They're very disappointing Manufacturing numbers you've seen out of France Germany and the US. We had very disappointing Manufacturing number manufacturing numbers out of Germany on Friday. It was the lowest level since July 2012 That has really been the catalyst for the sell-off in global equity markets Paceo over the last two days This they're kind of renewed concerns about the state of the global economy And that essentially be the kind of the major theme of this particular session We did we did have some positive news out of Germany this morning at the German IFO places climate Index came in at 96 90 99 point six Head of expectations Of 98.5 so some positive news, but nonetheless our traders are still a bit on the nervous side So take a look now at some of the major major markets. See if they've been forming excuse me Starting off with the FTSE 100 So back back on Thursday last week FTSE 100 hit a level not seen since October So give you the indication for bullish mark the market originally was and this large red candle here It's a major sell-off that we saw on Friday. It was the largest the FTSE endured its largest daily loss in 2019 So sentiment is still about the negative side. We're firmly we're still below this red line here at the 200-day move average and while we remain below the 200-day moving average which comes into play at 7235 it's likely we could see further move to the downside and if we do see further pressure to the downside on the FTSE 100 support might be found from this region down here in late February which comes to play at 7,040 But keeping in mind There's been a wide upper train in place in late December So obviously if we if we don't take out the that the lows of late February And if you just maybe say drifting around here down towards 50 moving average this blue line here at the south of 7,100 if the wider upward trend does continue We could be looking at retest the recent highs of 7,000 370 and looking beyond that we could be likely heading up towards the kind of psychology important 7,400 and if you go beyond that we then we'd be kind of creating new multi-month highs And we could be looking at our getting this area up here at 7,558 Take a look now what's going on over in Germany the germarket attacks similar situation whereby we endured a very large sell-off. Excuse me. We endured a very large sell-off On Friday, but keep in mind that your markets last Wednesday. Once again hit a level not seen since mid-October So a multi-month high was reached last last Last week, but this red candle here was the on the Friday the 22nd Signify the major loss that we saw on Friday on the back of those very disappointing manufacturing numbers, so similar situation whereby The market has been under tense pressure in the last couple of sessions If you do continue to drift lower in the near term Support might be found from this in the other line here that the water demovie average Which comes to play just above 11,200 we can see that at the water demovie average actually has both resistance and also support here In February and well in early February and mid-February, so the metric has been Acting as support and no resistance recently it makes it more likely it would do so again in the future And if you draw a trend line from the highs of June through the highs of July through the highs of September We get this trend line along here And if that the previous trend line resistance might eat again act as trend line support So if you do manage to push on lower from here Support we support by commit to play in on the trend line, which would be in around 11,100 It is worth pointing out That the the tax is back below a very significant level here Of 11,611 690 or 11 hours to shy of 11,700 this area here was very significant and the market did manage to It didn't manage to act at resistance in early March when I finally broke above it That was a that was a positive side, but the market has probably moved back below And ultimately while we remain below that level it's likely we could see further losses So we really would need to get a take back the 11,700 to 11,690 mark If you do have any chance of retesting the mid-march March eyes of 11,823 and if you go beyond that then the next year to keep an eye for will be the big kind of psychology important 12,000 Excuse me. I'll take a look now. What's going on over in the US? With the S&P 500 So the S&P 500 speaking of important levels Last week the S&P 500 also racked up a multi-month high which is pretty significant in itself But if you just if you keep an eye on this area here in around 2870-2820 The S&P 500 finally broke above that that area So then it went regardless active as a bit bit of support But now we're actually traded back below that and ultimately while we hold below that level and in fact We're currently it's just at the S&P 500 will open below 11 11 but below 2,800 while we hold below the 2,817-820 mark it's likely we could see further losses on the S&P 500 and It moves if you're looking off for areas of potential support Support might be found for this red line here, which is the tourty moving average which comes to play at 2,754 and if you drop below that support might be found from this trend line here And if you draw a trend line between the lows Well, February 2016 with the lows of November 2016 you get this trend line along here And we can see how it was well respected and support back in October and November and then active resistance on a couple of occasions in 2019 and this trend line here my act might act as support yet again If does that support it might be support might be found in around the 2,720 mark But keeping in mind This people have under has been a solid upward trend for with three months now since late December If the market does continue to push on higher from here, and if you can take out 2,820 we could be looking heading up towards 2,866 this area around here and then beyond that The next next area to keep an eye out for Well next area beyond that will be the kind of the big cycle action number of 2,900 take a look now on the gold market and Gold has been in a fairly decent upward trend since mid-November So a nice series of higher highs and higher lows as classic upward trend Now granted that the sell-off that we saw in February didn't manage to take out the Didn't manage to create a lower low so the lows of March check out the lows of mid-February But we are pushing back higher again So it would appear that the wider upward trend is still intact And if you continue to press on higher from here We could be looking at targeting a 3,020 and if you go beyond that We could be like we had up towards again a 1350 region and a move beyond that could take us up to the levels of 266 that I never have not seen since the first quarter of 2018 any move to the downside in The gold market support might be might be found from the cycle actually port 1,300 and I move below that might take us back down towards the 1,280 Marker to 1,276 in around here take a look now on the oil market So see the fairly decent bounce back in a break crude oil Since late December and in fact last week we have levels not seen since mid-November So we have four month highs on the oil market. So give you indication if I'll abolish things are Like I said given that there's an uncertainty of a global growth on Friday because of disappointing Manufacturing numbers from France Germany and the US the better concerns about what the demand be for oil If manufacturing figures are weak, so we have seen the oil market trip to bit lower There's been a slight increase in negative momentum So if you do manage to drift a bit lower on bread We could be head back down towards $65 a barrel or support by people from this blue line here and the fifth in a moving average Which comes to play at 64 spot 37 If the wider upward trend comes to play the one that's been in place now for about four but for a since late December And that does come into play We could be like you heading back and forward this red line here the tour they move the average Which comes to play at 69 spot 74 and we'll be on that with every the psychology important 70 bucks per barrel into play Lucky now WTI Similar picture similar picture will buy a WTI as you pushing higher since late December and we've racked up a four month high Only last week, but of course we did see a bit of a sell-off on Friday And if the market does manage you drips a bit lower from here We could be like you heading back down towards fifty seven dollars a barrel We can see in the fifty seven dollar area has access resistance on a location So all resistance might become new support And if you drift below that we could be lucky any back down towards this blue line here the fifth in a movie average Which comes to play at 55 spot 13? We notice that we saw medical solidation from the 50 movie average Back in early January. So if I ever was significant the past it makes it more likely that that will be in the future If WTI can get above the psychology board at sixty dollars a barrel We could be like you heading up towards the Trinity will be average this red line here Which comes to play at sixty one spot 78 Take a look now Euro versus the US dollar your dollar. So you have your dollars been in a solid for the obvious downward trend since this is January in January my series of higher highs and higher lows Granted the highs of March to measure take out the highs of late February, but as you can see here We've matured another sell-off and if the if the If they get a downward trend that's been a play in the last couple last couple this continues We could see the market head back down towards the early March the early March lows of 111 spot 76 in around here and a break below that my previous back down towards one spot 1110 We really would need to be taken out of the recent high of one spot 1448 Before you can actually consider maybe you know shaking off the recent downward trend And if you go beyond that the next year to keep an eye forward to the upside would be the early January high of one spot 1570 Take a close go of the pound So the pound has been a fairly solid upper trend for three months My series of higher highs and higher lows and ultimately while we hold above this red line here I wonder where we average which comes to play just under one spot 30 if you hold above that We could maintain in the wider upward trend So we could be looking heading up towards the one spot 33 61 region I think I'll be on that. We could be looking at heading up towards the 11 that scene. This is June 2018 in at one spot 3472 It's only if you have a size of break below the kind of 130 turning we have an average which could play at one spot 2980 It's only if you have a size of break below that because then we've been looking at any back down towards it one spot 2775 area in or out here In terms of one of the major events of the week well we are Week ahead article can be found on a website if you're going to see if see markets calm And that take a look one of the news and analysis section. You saw the week ahead article So later today we have a lot of launching launching their new video streaming service It's going to be a rival of Amazon Prime and also Netflix. So keep an eye out for that Tomorrow fever fever fever three have full-year figures out the British drinks company AG bar also have fun your numbers out From the UK tomorrow on Wednesday lean our group have first quarter numbers on Thursday lift or have their IPO They are floating on the Nasdaq On Thursday, we also have fourth quarter GDP from the US and also in relation to the mission of brexit So the European Union have granted Theresa May their Require the extension that she requested but depending on which we're depending on whether whether whether MPs back Theresa May's withdrawal agreement it depends When the exit date will actually be it might be mid-April it might be late May depending on how things go and also on Friday, we have the UK fourth quarter GDP and we have the European Union CPI numbers so keep an eye out for that If you've any comment to make on this video or any of the other videos we've made here at CMC markets Please feel free to leave review of the news. Thank you very much