 Hello and welcome to the week ahead video with me David Madden. Today's date is Monday the 29th of April 2019 And the time has gone just gone rather 10.05 British summer time Excuse me. It's been a fairly quiet start to the European session today We had a mixed session in Asia overnight Chinese stocks were up on the session Rebounding from some of the losses I think heard last week And we had a bit of a decline on the decade 225 We've had it's a we've had no major news Major macroeconomic or political news in double-defected global markets We have heard from US trade talks the usual situation where my trade Apparently according to Steve Mnuchin US Treasury secretary there in the final laps But we've been hearing this sort of stuff for some time now. We've been drip fed bits and pieces of information From the US China trade talks Excuse me. They've been largely positive, but I really kind of seeing any detail and keep in mind we've seen You know record close to the Nasdaq 100 and record highs like 100 We've seen a record close from the S&P 500 and and the S&P 500 is set to actually print Record high later on today, you know, that's what the future markets are indicating Now So a lot of the really good news relation to US China is already priced in What we see it is a fairly Quiet start to the to the European session The big news out of Europe is that of the general election that was held in Spain over the weekend The Socialist Party won the election, but they failed to win majority So it could be a few other weeks or even months before they potentially look to actually get Get a get a coalition going with other people who are on the On the center right or even actually on the on the kind of separate side The SAP the Catalan separatists are possibly even people who are further on the left Of Spanish politics. So at the time being we probably have a few weeks or possibly months of of Political negotiations for we can actually get a in a new government up and running in Spain I'll basically start to start off now by taking a big look at some of the major markets and see how things have been performing So the Foxy 100 Has been broadly been in a It's been a very solid upward trend since late December. This is a very common theme across us and Us well, actually global stock markets really US European and Asian stock market So a nice upward trend by a series of higher highs and higher lows last week We hit a fresh six-month high yet Unless you dripped us a bit below that but we're still very much in the wider upward trend And if you can hold above this region here kind of seven thousand four hundred or down to this did this this line here at 7,000 three hundred and Seventy if you can hold above that area as likely we could see further gains Be made and them should be pressed on higher from here as you take out last week's high We could be likely heading up toward this area here a level not seen since September 7,558 and I should we go beyond that we could be looking towards the cycle of psychology born 7,600 mark to be honest It's only really if you have a science to break below this area here at seven thousand three hundred seventy Because then we begin to think okay Maybe the Polish trend for the last few months has come to an end I'll be cuba looking getting heading back down towards this red line here the truth We have the average which comes into play not too far away from the seven thousand two hundred mark seven thousand two hundred and nine To be precise the DAX the German market has managed to rack up a fresh six-month high So things are looking very positive over Germany As you can see here that the German market has been a solid upward trend a series of higher highs higher lows As I just mentioned we fit a fresh six-month high on the DAX to get indication of a sentiment is like We're currently trading in around Twelve thousand three hundred five and if you can press on higher from here We could be looking at targeting this region 11 not seen since September last year We should come into play in around the twelve thousand four hundred and sixty mark If you do manage to drift lower and if you manage to have a very sizable pullback We could be looking at a back down towards Seven twelve thousand one hundred or possibly down towards twelve thousand itself To be it's a big psychological number But we also see that it managed to act as resistance on the way up and I see us briefly as a bit of support as well And if you do actually manage to break below twelve thousand we could really get targeting this area in around here in around eleven thousand eight hundred and twenty three So take a look now what's going on with the SP five hundred So US markets US second markets are in even better shape than their European counterparts I just as if you look take a look here at the church. We can see that that the previous highs We're in around We're in around the kind of 2935 29 kind of thirty thousand nine hundred thirty seven region the SP five hundred according to the futures market are tipped to be opening open at 2941 obviously that could all change between now and the path and the US open in about four hours time But we're set to open at an all-time high So every good this gets this give indication if I pull a sentiment is over in the US if you continue to press on higher from here You could be looking at a target in three thousand off see there on the next big site psychological number to the upside But keep my this considerable ground between here and now here and there so We could be looking at her again in 2950 60 and so on and so forth Over the last three or four months, you know buying on the dip has been a very popular strategy. You've seen My series of higher highs and higher lows So if it do you manage to you have a pullback in the SP five hundred we could see fresh buyers enter the fold So if you pull back from here, we could be looking at any back down towards the recent lows in around 2,915 15 2,912 Drift below that could bring us back down to the psychology board 2,900 mark or perhaps even this level here in around 2,896 I'll take a look now. What's going on over the Dow The Dow isn't as isn't a strong, but it's not it's not too far behind its SP counterpart So if you take a look here, we can see that the all-time highs were achieved in October and it was up around the 26,950 mark there thereabouts that that region I was going to be all top There thereabouts was going to be all-time highs We're currently expecting the Dow Jones to open at 26,560 roughly So if you can press on higher from here, we could be looking at heading up towards the psychology board 27,000 mark If you do manage to see any moves of downside, you might see fresh buyers end of the fold And if you do see a move to the downside support could be found from this This line is in here in around 26,278 and a move below that could take us back down towards this blue line here The fifth any movie average which comes to the play just north of 26,000 26,035 to be to be exact We can see here back in the middle of March on a few occasions The fifth any moving average did manage to act as support and if metric is actually support in the past It makes it more likely that it'll do so again in the future I'll take a look now what's going on on the gold markets We've been talking about how your global equities European US and Asian equities have been buying large bouncing back since late December on the flip side of things Gold has been pushing lower since mid-February So for the last couple of months we've seen a lower high lower low a lower high a lower Apologies a lower low a lower high another lower low or it could be another lower high here. So we've seen We've seen a fairly clear pattern of a bearish move on the gold market for the past couple of months If you can if you continue to get a push on lower from here I would take off the recent lows in around the 1266 marks 66 mark rather We could be looking heading back down towards The fit could be by heading back down towards this area here in around the 1250 region which coincides with the Trinity moving average which comes so the metric is on for looking at a metric Which is both important, you know the turning will be average is seen the decent level With a problem of whether market is impossible, you know bearish or bullish But also that coincides with an area of which was both, you know resistance and support It could make the metric even more important So if you drift lower from here, we could be looking heading back down towards the 1250 region and he moved to the upside In gold are likely to run to resistance in around the psychological important $1,300 mark. I should be beyond that. We could be looking at targeting the they kind of made April highs in around the 1310 mark and if you take out this this high here in around 1310 We could be looking at targeting the mid-march highs in around 1324 The oil market had a fairly sizable sell-off at the back end of last week We saw a better profit taken after the strong week that I had but more importantly President Trump stated that it had been a countertopic with OPEC Basically asked asked OPEC to get you to kind of take some pressure off of gasoline prices petrol prices So it's a very sizable sell-off on Friday, but keep in mind We've had months of a rally we have about four months of a rally on the energy market So a bit of profit taken is hardly a bit of a surprise So see the solid upward trend here Only last week and we saw a hit a fresh six-month high Then we the massive sell-off which is this large break candle here So we're still very much in the upward trend if you continue to press on higher from here We could be looking at targeting this year you here 11 not seen since late October last year that high just just shy of 78 dollars a barrel 77 spot 95 and if you go beyond that we then you know look at the Psychological important any bucks a barrel might come into play If we do see further moves to the downside support could be found from this red line here Turdy moving average which comes into play at 69 spot 20. We can see here are a few occasions At the beginning of April the turning moving average did manage to act as support of a few vacations So it's likely you could act as support in the near term and even if you do manage to Drop it all the turdy moving average support could be found from the kind of 68 Dollar region of the few occasions that mark that region act as a few occasions that price acted. It's all likely we saw a lot of consolidation in the price price region. So it may become relevant again Take a look now what's going on on WTI 30 similar chart whereby is that a massive rally from late December? Until basically last week and then we had a big sell-off on Friday But we're still very much in the upward trend So has similar situation here a nice series of higher highs and higher lows a Six-month high was racked up last week And it's even though we had a sell-off on Friday this is this large red candle here We're still very much in the upward trend. So if you can manage to press on higher from here We could be looking at targeting this area in at 67 spot 80 and if you go beyond that 70 bucks a barrel might come into play Move to the downside similar situation the turdy moving average acted as a support on a few occasions And the turdy moving average on WTI comes into play at 60 spot 89 That area might act as support and so might this area here We can see there's a few occasions enter on $60 per barrel There's a few occasions where active and resistance on the way up. So might act as support on the way down Take a look at the euro versus the US dollar The euro has basically had a fairly slow and painful sell-off throughout 2019 We've seen a quite a few series of lower lows and lower highs Yes, I'm fully aware the high in March clearly check out the high in February But we've also seen a nice series of lower lows And in fact only last week we saw the euro euro dollar fall to a level not seen Not seen it since June 2017 So basically not too far away from the two-year low on the euro dollar my grant We are a bit off that we have never covered ever so slightly, but it's still very much in the downward trend I've continued to press on lower and take off the recent lows in around the one spot 1110 region We can then be looking at heading that down towards the one spot 10 area Move to the upside on euro dollar like are likely to run in resistance in around the one one spot 12 mark I think it will be on that Resistance rather might be found in around this area here in around the one spot 1322 area Lastly on the charting front I should take a look at the pound versus the US dollar. So the pound had a very impressive bounce back between December mid-December and mid-March But since then we've seen it kind of a slow grind lower to be honest because of the fact that Brexit has not been pushed back Until the 10th year that is Halloween 31st of October All of volatility is drained out of the pound But nonetheless movements and sterling happen to the downside parts are driven by a stronger US dollar and traders are realizing It's uncertain in relation to Brexit the euro zone is in is in as a lot of economic issues and political uncertainty All the US economy is doing quite well So there's not a dollar of strength here a lot of dollar of strength We're also seeing a lot of this kind of a bit of uncertainty in relation to the pound and the euro So we see a slow grind lower on the British pound of versus the US dollar If you continue to kind of in this downward trend you've been there for a few weeks We could be looking at targeting this region here in around one spot 12. Sorry one spot 2775 And if you take on that level, we could be looking at targeting down around here in at one spot 2710 If you manage to bounce back the you know, psychology important one spot 30 area might active resistance And if you go beyond that you saw like the solidation in around the kind of one spot 32 area So keep an eye out on that level should we have a significant move to the upside? I take a look now at the week ahead and if you go to our to our website see some markets calm and look under the news and Analysis section you can see the week ahead and looking ahead to today after the closing bell in New York tonight We're gonna first quarter figures from alphabet. That's Google's Perry company Wednesday and Thursday we have updates from BP and Royal Dutch Shell On Tuesday with bread have their first quarter figures out Also on Tuesday. We have second quarter figures from Apple over in the US. We have the Federal Reserve's infrastructure station on Wednesday Also Wednesday, we have full year figures from Sainsbury's Wednesday and Thursday. We have basically the global PMI manufacturing numbers are coming out on Thursday here in the UK Loads have their first quarter numbers released In Divya or have their and the have their first quarter figures released on Thursday Thursday, we also have the Bank of England in infrastructure station and inflation report and on Friday We have US non-farm payroll. So it's gonna be a big week in terms of both corporate and economic announcements If you've any this before I wrap things up If you've any comments to make on this video or any of the other videos We've met here at CMC markets, please feel free to leave a view of the reviews and that's all for this week. Thank you very much