 Hello and welcome to the weekly market update with me David badm today's day. It is Monday the 24th of June 2019 and the time has just gone 1135 for this summertime It's been a fairly subdued start To the trading week. We obviously had by and large a very positive and ball of session Global equity markets last week Even though we finished slightly in the red in terms of European equities and US equities on Friday We've seen by and large Stocks in Europe this morning are a little in the vein as well Essentially the a lot of the issue of the teams that we had back in the last week are still very much in play The the trade standoff between the US and China is is going to be now at the forefront of traders minds meeting between Donald Trump and Xi Jinping China's premier on Friday and Saturday At the G20 meeting this week is going to be probably the biggest event planned event of the week Obviously last week. We had a double she CP with a double standard reserve that boosted that boosted equities But now that we've had the Fed meeting out of the way and the comments from Mr. Draggy out of the way of the ECB Trader and I'm looking ahead to global trade and even though the last few weeks the language between the US and China Has mellowed that the situation is still far from resolved So it's possible. We could see about a lot of volatility in the next few days ahead of the meeting Obviously, obviously, there is the situation between the US and Iran as well You we've had announcements from the Trump administration that we could be looking at, you know, what more severe Sanctions being imposed on Iran the downing of a US Drone by the Iranian regime has also led to kind of high tensions between the US and Iran and the possibility of more sanctions in the pipeline House by pressure has put upward pressure on the oil market What else what else is going on there? That's essentially the kind of big themes of the week We do have some corporate as an economic updates were to talk about at the end of video in a week ahead article But I'm not start off by having a look what's going on at the major markets. So starting off with the footy 100 So the wider upper trend that the first 200 has been in try to do 19 It's not very much in play. We also hit a multi multi-week high Last week, but we have much to give back some of the ground here. I Tore in the last few sessions But nonetheless while we hold above this blue line here the 50th movie average at 7347 while we hold above that area It's likely we could see the wider upper trend continue and we could be looking at targeting this area here the Mid-April the late April high of in around 75 28 Should we go beyond that we could be looking at targeting this area here a level Seen at the back end of September last year and that comes to the play at 75 58 And even if you do drop below the 50 movie average here Support could be found from this yellow line here the water the movie average that comes into play 72 74 and it's only really if you have a size of actually really have a size of break below this red line here The tour the movie average at 71 52 Because then we should be getting to be concerned and then back that could be indication at the kind of the negative moves Since it's mid-April is actually going to continue on But the crucial bit I think it to take away from from the business this bit The first hundred is while we hold above the blue line here the fifth movie average It's likely we could see further games and that's a very common theme across Some of the other major European markets and also the your S. US markets, which I've come up to now in a second So take a look at the the DAX over in Germany very similar situation here the DAX is The DAX in this case had a very decent very strong rally in the middle of last week Marker is giving back some of the ground that it made Last week, but notice how again. It's called to be above its 50 movie average Which comes to the play at 12,127 That's why we hold above that metric. It's likely we could Continue the 2019 valley of a cumulative targetting this area here in at 12,460 that should we go beyond that we could be like your targetting this region up around here in around 12,600 Even if you do drop below the fifth movie average support could be found from this area here the at the psychology Portland about 12,000 and once again It's only really if you have a size of break below this red line here the tour they move the average Which comes to play in around 11,600 So they really have a size of break below that could then we be actually Could then we be the begin to think that the because the downward trend that began in early May is in play Over in the US and the Dow Jones the US markets must say are far better shaped than the European counterparts. We saw Records on some of the US indices last week if you look here The Dow Jones is well above its 50 movie average and we're not too far away And we're not too far away from the highs that were achieved only last week The Dow Jones is still very much in its upward trend and continued to press on higher from here We're currently expected to just open it around 26,750 we could be likely heading up towards 26,800 900 up towards the psychology Portland 27,000 mer but like I said Some traders may be a bit hesitant to kind of buy into buying the stocks ahead of the G20 meeting Some traders might be kind of sitting on the fence and waiting to see how the meeting goes a Pretty much a drift lower on the Dow Jones support could be found from this area here in around 26,400 or perhaps from this blue line here the tour they move the average which comes to play just north of 26,000 I'll take a look now at the S&P 500 Very similar situation on the S&P 500 where the highs that were rack You know we posted record highs on the S&P 500 And the levels that were certainly expecting the S&P 500 are to open it are not too far away from the for the record highs that were achieved last week So once again, it's in a solid upward trend It's comfortably above its fifth movie average this blue line here And if you can't continue to press on higher from here We could be like you're targeting the psychology porn 3000 mark If you do see a drift to the downside at the S&P 500 We might see fresh fires and fold seeing as buying on the dip has been a popular strategy in the last few weeks And Brody's bacon has been popular truck 2019 So the market doesn't unless you drift a bit lower support could be found in this area here in around the 2900 mark or perhaps even from this blue line here the fifth the day moving average Which comes to play at 2878 and even if you drop below that We could be looking at it back down towards this yellow line here The one of them will be average which comes into play in around 2840 Take a look at now a gold gold has had a quite an impressive run in the last few weeks I had a major rally gold basically since the end of end of base of the last about three three and a half weeks to see a major move to the upside and gold Gold is holding above the psychology psychology report 1400 mark we're back to levels not seen I mean recently at levels of gold not seen since August 2013 So it's quite no what are your highs to be racked up on the call market Now this rate of worship the market is moving up to moving to the upside is extremely impressive But it might struggle to continue at the pace is currently crazy And so we might see a bit of a pullback before we see a more gentler rise in the price of gold So they opt up the up the upper trend is still very much in place But some treasure is skeptical. They're ready, which is increasing might be a bit too much And we may see kind of a slow schooling or slowing down at the rate of which is pressing higher If you do manage to you can hold above 1400 The next year to keep an eye for will be a 1433 a level not seen Last thing once again since August 2013 In case if you see any moot in the downside and gold support can be found from this region in around here in around 1382 or perhaps down this this this area here in around 1360 as I mentioned There's been a uptick in the oil market given the high tensions between Iran of the US So you can see here that the oil market suffered a very sizable sell-off for about late April Until only until the middle of June But we saw decent support on a brain crude oil here in around just kind of Just kind of a north of $60 a barrel in around kind of 60 20 70 60 30 dollars a barrel in around here And we have been pressing higher and you notice a branch that the recent move to the upside Managed to take out highs of the middle of June And if you can press on higher from here and go beyond 66 dollars a barrel We could be looking heading back towards this blue line here the 50 movie average which comes to play at 68 spot 60 And you notice that the market that the 50 movie average access support in May and ever since then Metric has acted in resistance Notice how they had pushed higher and late may fail to actually get up as high as the 50 movie average So as it was a relatively important metric in the last few months It might be a new about a board metric in the near future So if you can press on higher from here, we could be like you retesting 68 spot 60 And it's only really if you take out the recent loads here and in In the middle of June because they would be getting worried and look at heading back down towards 60 dollars per barrel Excuse me. So we'll now take a look at WTI and it's a fairly similar situation in regards to WTI whereby In the last few weeks given the tensions between US and Iran the WTI market has much press on higher As you can see here the highs that we achieved here in the last two sessions I've clearly managed to take up highs on the middle of June we're pressing on higher here It's a steady increase positive momentum on the Mac indicator So we can be more confident that this upward trend is going to continue So the upward move to the oil market has been confirmed by the steady increase in positive momentum If you press on higher from here once again, we could be like you're targeting the 50 movie average Which comes to play at 59 spot 25 or close to words or up towards 60 dollars per barrel Simulation whereby the 50 movie average on WTI managed to act as support on a few occasions So the possibility it might act as resistance might act as resistance on the way up Once again, it's only really to take out the recent lows Which are just coming to play it just north of 50 dollars per barrel Could that we become more confident that the kind of that the downward trend that began in mid to late April is as you Is going to it's going to continue and headed back down towards 48 and 47 Take a look now at the euro versus the US dollar So the euro dollar Has had a fairly sizable move to the upside basically in the last month or so I've actually now managed to close above on a daily basis above the tourney movie average Which comes to play in at 113 53 or now holding comfortably above that and if you press on higher from here We could be looking at targeting 114. I think I'll be on that We could make a target in this area here the mid-march high of in at one spot 1448 And if you go beyond that we could really get targeting the other one 15 area now It is worth noting that the euro dollar has been in a fairly clear and consistent downward trend for a good good chunk of time between January and to be honest He only only very recently the end of May so the wider trend is to the downside So if we do see the market turn over on itself, and if you do drop back below the recent lows In at one spot 1181 we could be like you heading back back down towards they had the lows of this The recent lows in 2019 in at one spot 1110 Take a look now at what's going on British pound versus the US dollar So starting dollar has been in a fairly clear and obvious downward trend the last few months a nice series of lower lows and lower highs, but you will notice that When the market printed printed its lowest level And I've not seen since early January only last week We had a fairly sizable move move to the upside and the recent highs and much take out the highs of Early June if we continue the press on higher from here We could be looking at targeting one spot 28, and if you can hold above that We could be looking at getting back towards the truth They moved the average this red line here in at one spot 29 30 And if you go beyond that the psychological important 130 mark could come into play And it's you know, if you do manage to turn over on itself Once again, we could be looking any back down towards 126 And if you take off the recent lows this area here in at one spot 25 42 We could then be heading back down toward this area here in a once pot 24 76 Lastly in terms of charts, I would take a look at Bitcoin I talked about Bitcoin on last week's video for the first time in a while because we saw a fairly sizable move This is what Bitcoin wants when we spoke about his recording this video last week. It was in around the kind of 9300 by 9200 market around here and now we're now what if you look at the level of Bitcoin were well You know, we're not too far away for around 10,900. So Bitcoin's continued to kind of press on higher in the last week We see the steady increase in positive momentum So we can be more confident that the this uppercase up so the momentum is clearly with the buyers We fit a 15 month high on Bitcoin and we've kept the upside Which is a which is it which is it can be viewed as a bullet sign And if you could hold above you can hold above the kind of psychologically born 10,000 mark you could be looking heading up towards 12,000 now we haven't seen 12,000 Bitcoin since January 2018 And even if you do see any kind of pullbacks of Bitcoin support could be found from this area here in around 10,000 Or perhaps even down as long as kind of 8,000 or maybe even this area here in around 7,471 I'll take a quick look now at the week ahead The weekend article can be found on our website if you're going to see them markets calm and typing news and analysis You can see on some of the some of the articles that we do are published here So look you head to tomorrow. We have full your figures from corporate right in the UK. We have four quarter numbers from FedEx We have third quarter numbers after closing bell of that micro technologies on Wednesday We have full your figures from stagecoach the train line IPO that would begin on conditional training on Wednesday On Wednesday, we also have the Reserve Bank Reserve Bank of New Zealand Reserve Bank of New Zealand interest rate decision On Thursday, we have fourth quarter numbers from Nike. We also have the final reading of first quarter US GDP the G20 meeting begins On Friday and also on Friday. We have first quarter was first quarter the fine reading of UK first quarter GDP reading That's all for this week. If you have any comments to make in this video or any of the other videos you've made here at CMC Please feel free to leave a review on Google views. Thank you very much