 Hi, good morning and welcome to today's products and focus and the common themes for today are pretty much everybody's talking about crude oil right now We're just gonna go next had a fantastic there Fantastic run yesterday. We've actually got the Saudi finance minister a very big oil conference today over in the US when there's first speeches in the US since 2014 and a lot of people kind of looking at crude as a proxy as to The world's global economic economy right now a lot of question marks over the fracking industry in the US How much has it been protected by the US banks has the Fed been working with the banks to try and support protect the industry? And obviously Saudi Arabia have been trying to well They were quite open about the fact that they were kind of at war with the fracking industry that's why they were keeping that keep pushing that price down to make it as competitive as possible and Obviously, it's not kind of really worked out that well in that in that regard. We're also seeing potentially interesting double bottom formation being fully active now on the US 30 So when we look at it from a technical perspective, you'll see the the fact that the market come down bounce come down to very similar level And has moved pushed back up higher and US 30 is certainly looking in slightly better condition than it was just a few weeks ago But we'll have a look at that in just a quick second pounds still getting absolutely hammered a drop bit 2% yesterday as a Talk of a Brit exit and still is very much talk of the town in London And across in Europe as well the Euro took a bit of a pummeling the pound was down I think the sterling was actually at its lowest level versus the US dollars in 2007 So it's been some quite significant moves that we've seen there in the market But that's kind of just the themes really haven't really kind of changed that much It's a bit quieter today than it has been in another days But from a technical perspective, there's still some very nice levels to look at so without further ado Let's have a look at the US 30 So as ever this is currently where we are on the US market and we managed to get a technical breakout a little bit higher It's not really followed through with too much convictions from far this morning But we were potentially capped by that 55 period SMA same-seek clients are getting a little bit bearish now They are now 81% short 16,460 could be the short-term potential resistance where you can kind of see it's kind of spiked up multiple times It failed to break up higher We did have this move for it broke above it, but then it didn't really follow through but so far today So far yesterday, we are still taking above that level just now So this could be an interesting springboard depending if you think the markets will go higher to target 17,000 and 38 Or if you think things are gonna go lower once it trades below 16,460 You could be looking at retracement back down towards this potential double bottom right here But this would be a proper breakout where You've got this bottom here. You've got the potential neckline and it's broken up to the upside So from a technical perspective the US 30 just got a little bit more interesting Then moving on to the UK 100 cash Still potentially in the sloping downwards trend line 71% of same-seam markets clients are currently short Other technicals are relatively neutral 60 70 looks to be a short-term potential resistance And that's been in play for quite some time if we go a little bit further back That gives you an idea of where we are and certainly the technicals it bounced right up to that level stop They got pushed back down. So perhaps that's still the level to keep your eye on Looking at the Japan 2 to 5 Coro down in Japan the They're equivalent of the of the chairman of the Bank of Japan It's taking a little bit of heat in that part of the world You can see that 16,384 looks to be short-term potential resistance It's tried multiple times break through there without much luck, but it is it's almost like a very steep Some of ascending triangle formation where we're looking for a breakout above here to get to 16 8 96 Is a potential resistance failing that we could get retracement back down to 14 671 It all depends about that yen. Let's have a look at the yen right now in fact So the yen still gaining momentum at the moment And what we're seeing is people are buying the yen, but not as equity markets are getting pummeled So it's not safe haven buying people are buying the yen because of the deflation pressures that are coming into Into play in Japan There's a lot of question marks about how the Japanese government are going to solve that issue So it's kind of an unusual situation with the Japanese gem for normally you would you be expecting people to kind of buy that up As that safe haven as where it's been traditionally seen But people are buying it for slightly different reasons right now. So 111 spot 61 as a potential support level followed by 110 spot 08 and 63 percent of seems to marks clients are currently long So moving on to crude oil West, Texas as we mentioned at a particularly good day yesterday We're still failing to break above with much conviction To break above 31 70 in change is still trading above $30, which is which is significant in itself I think we've kind of broken out of this potential sloping trend line as we speak We need to get above that 55 period SM a 35 13 is still the potential support level to be aware of We have to go quite far back probably even onto the weekly charts to see that level of more detail We are in the middle of two ranges right now. This is potential support. This is potential resistance 55% of seems to marks clients are currently short So I'm moving on to gold as ever gold been quite volatile is slowly forming what seems to be a symmetrical triangle formation Let's just get our drawing tools out and see how that probably looks like So that's the one level there And probably take the next point from being here to here. So that's currently what we're looking at So symmetrical triangle formation. It's even a break at this side or this side One way or the other we should be able to get a decent move once it does 78% of seems to marks clients are currently long So they might be anticipating a break to the upside which case you might target up here as an exponential resistance Filling that you'd be looking at a 1191 has been that next potential support Finishing up with the major currencies So the euro got smashed yesterday, but not as badly smashed as the sterling breaking below one spot 11 So technical breakout you could be looking at that 55 period S Is that sorry is that yeah that 55 period SMA is an exponential support You could be looking at the tips of these candles. So we're not that far away from potential support on on your dollar Arguably could be looking at once maybe about one spot ten No, we're pretty much there right now to be honest as a short-term potential support the tips These candles might provide and if we have a look at parole GBP USD You can see a proper technical breakout lower yesterday We still managed to close above one spot 41 29 which could be significant, but we're on the wrong side of that right now It's looking a little bit weak obviously concerns about a bright exit and the impact in the economy and interest rates And everything else is having an effect on that 63% it seems your market clients are currently short So they're anticipating further downside and when you look at the trend The sterling has not been looking that strong for quite some time, okay So that gives you a bit of an idea what to expect from a technical perspective Let's just quickly finish up with a market calendar as always and Just bring that into into play. We've got business survey Cinnamon index in Germany the CCI from US existing home sales More existing home sales and your crude oil inventory reporting on Wednesday Thursday brings a CPI for Germany GDP for the UK That's gonna be important for for cable more CPF in the Eurozone durable goods employment claims is in Japanese data And then on Friday more CCI data from the Eurozone from Germany GDP from the US and the consumer sentiment survey University of Michigan from American and personal income to round up the week. Well, that's it from you guys figure out your trading and join me again tomorrow to find out We'll have a next. Thank you very much and goodbye