 Hello and welcome to the CMC markets Monday market webinar with myself David Madden market analyst here at CMC markets Today's date is Monday the 19th of February and the time has just gone 12 15 GMT quarter past 12 UK time And this is our Monday market webinar and as always with the webinars We will quickly go through the risk-borne slides. First of all I'll leave this up on the screen there for you guys to read It's very straightforward. It essentially states anything that is covered in today's webinar is just purely a My own thoughts on my own comments. This should not be Be construed as explicit trading advice. This is this is lead us on the screen here for you guys to have a quick read over It's all fairly straightforward. And if you're a regular to our webinars other videos that we do You will be familiar with the practice of the Risk warning slides. So let's move on to the next slide While you're reading over that a little quick rundown of what's been going on in the financial markets since the closing play On Friday and the short answer to that is not a whole lot We had a good session in in the positive session finish in New York on Friday We also had a positive session in Japan overnight But we are the Chinese market remains closed at its spring festival the in China Speaking of closed markets today in the New York soccer change will be closed as it is president's day in the United States of America And the Canadian market will also be closed as it is family day in Canada. And for that reason The fact that we have, you know, a few major markets out of commission that are on holidays Traders are away is we haven't seen no volatility and no trading volumes in London And it's likely to be the case around the globe today So today's session may not be the most interesting That is maybe kind of a quick look ahead to what's going on in the next few trading sessions I'll also keep an eye off a certain private edge of price movements That that could be on the horizon in the next few days So for those of you who are familiar with our trading platform What I'm going to do now is do a quick rundown of the major economic events of the week So look on the trading platform look at the market pulse fourth option down market calendar It gives you a breakdown of the important economic indicators that are that are that is due out during the week So turn your attention to tomorrow morning tomorrow The big one to watch out for tomorrow is going to be the German zoo German zew business confidence report coming out at 10 a.m. Tomorrow morning And then later on at 3 p.m. We have the eurozone consumer confidence figure coming out Turning our attention to what's going on on Wednesday We today Wednesday is going to be the day for all the PMI reports the manufacturing pyramid manufacturing and service PMI reports coming off from France At 8 a.m. In the morning Germany at half past eight at the eurozone as a whole at nine o'clock Later on and what was the morning we have UK unemployment and also probably more important nowadays It's probably that shoot the wage growth figures Added to that we also have public sector net borrowing unemployment in the united kingdom is at a the lowest in Over four decades So I think like with the United States the UK like the United States On the the headline unemployment figure is very impressive NSF multi decade lows But the area when you hear about individuals being in these the squeezed middle is exactly Exactly what we're looking at here on the wage the wage growth Headline unemployment is something politicians love to talk about But if wages aren't going up as well at the same rate at which jobs are being created People people who are working Tend to get a squeeze especially inflation in the UK health study at 3% So if your wages are unchanged by the cost of living is going up your real income is declining And that is one of the one of the kind of big issues the politicians the face After face and also we it was the very Impressive wage growth data that we saw in the recent non-farm payrolls from the United States Which got everyone's thinking about potentially for ray hikes from the Fed this year To keep an eye out on the wage-worth figures from the UK on Wednesday morning past nine Also looking here to to Wednesday existing home sales from the United States And then we also on top of that got a Canadian budget figures coming out later on in the session Speaking of our home sales the homes the The recent housing data that we saw from the United States was also was very impressive only on Friday So keep an eye out for the to the existing home sales that's coming out on Wednesday Turning our attention out to your Thursday morning. We have the CPI numbers coming out of France at 745 We have the IFO business conference service coming out in Germany at 9 o'clock in the morning Half nine big big one to watch out for of course, but of course be UK GDP And we also have CPI numbers coming out from Italy And this is all going to feed into the overall eurozone CPI which is you out on Friday also keep an eye out on on on Thursday for Canadian retail sales that's coming coming out at half one and then On Wednesday as well. Sorry Thursday. We do have the initial job as claimed as we do every Thursday and half past half past one o'clock in the day and then because it's because the Today is president's day and today is our today is a closed day for trading in the United States The oil imagery figures which usually come out on a Wednesday at half past three are going to be out at four o'clock on Thursday to keep an eye out for that looking at Friday by the morning German GDP first thing up as out as out early doors On seven o'clock in the morning scrolling down throughout the day at 10 o'clock we have eurozone CPI as I mentioned some of the big major major Countries within the eurozone had the CPI figures coming out on On on Thursday morning And we're looking at the region as a whole and then of course what we have here is back of Canada cord inflation We have the inflation figures coming out from Canada at half past one in the day And that's going to largely it for the week ahead of us Some of the major topics to look at all that happened in the last few days in the last 48 hours So record bank hyzer had a had an okay update Total sales rose but rose by two percent and it's respecting about two percent two point one percent But when you strip out their strip out one of the recent acquisitions year on year the number of actual Sales didn't like it was actually flat on the year. So it wasn't as impressive as initially thought That being said the share price has been A downward trend for last for the last couple of years and today's update didn't really do much to actually kind of turn around in lesser confidence Well, that says on the go Excuse me Right move have stated that average house prices in the uk grew by 0.8 percent That's an improvement on the previous reading Of 0.7 percent but bearing in mind over the last 10 years average house prices Had been grown by 1.6 percent. So the rate is very much sub par sub average Uh, it's and also in that update right move stated that the london property boom has come to an end And I say that investors sorry off people who were selling property in london Should lower their expectations and also a translation lower their offering price because the market isn't as strong as it once was So what we've seen is we've seen you know stocks like persimmon Berkeley group Berkeley group rather who are running much london focus their share prices in the red today And also other companies like belway and persimmon homes as well Like I said on that it's been a relatively quiet day in terms of actual corporate news flows and because because china was closed and The u.s. And candidate will be closed I suspect it's going to be a fairly fairly quiet day on the markets I'll take a look now at some of the major indices and see how they're getting on price action wise I was looking over the the the charts before I before we began the webinar and It's fairly it's basically a very similar theme We've obviously had this massive sell-off a few weeks ago And then we've been kind of clawing back some of the ground sales and it would appear that we are getting more That we are heading in the right direction and we are correcting the major set up that we did have and sometimes it's often said of Financial markets and particularly of technical analysis to study of charts They can be a set of any prophecy and I think when it comes to market corrections That is an area that that I'll be in agreement with in agreement with in that whenever a market bounce is back The more it can continue to correct itself And recoup some of the losses the more likelihood that could continue because the feel good factor is there If you've traded or buying into it those those who are kind of playing the wait and see are waiting on the fence Then they they they see the upper price move into the sign that you know what there is confidence out there People obviously are clearly riskier at the lie if they're going in now but if if If the market keeps on going up there's a feel that I may miss the boat in terms of getting it at a relatively cheap price So the chart here I'm looking at is at the foot 200 and to be honest It's fairly similar across the board of all the major indices So as we can see here when we had a major the major decline here that began late January into early February as the market was coming off here Looking down here at the MACD indicator and the MACD histogram. We saw a steady rise in negative momentum So as the market was pushing lower, we saw a full-on increase in negative momentum So the the the MACD indicator confirmed That the momentum was to the downside And as you can see here now, the market is slowly but surely correcting itself and within that what we can see here is negative momentum is solidly and And Consistently declining. So the selling pressure is in decline the market's moving higher as you can see here We reach a level today that we haven't seen since uh, well Well actually for basically two weeks. So it's essentially a two week high today Which is very common on some of the other indices as well Rather two week high We're creating higher highs along here granted If we still haven't pulled that regrouped all of the losses But nonetheless, we are heading in the right direction if you do continue to move on from here An extent of the watch out for potentially could be seven thousand four hundred It's big cycle on to the number And notice how actually it's going to both support here and resistance in on this price And then north of that the next big level to keep an eye out for could be the tourney moving average Which comes to play in around seven thousand four hundred and fifty five or so The dirty moving average is is widely overseen as a kind of a kind of a parameter If a market is has a positive outlook or a negative outlook Obviously south of it. It is quite is negative positive is is is Is uh, not north of it is positive But you know as you said here depends on which if you do want to buy this in the markets Do you want to wait until the market turns because it goes above the 50 moving above the turn to moving average And then look to potentially get into it or do we want to take on some more risk potentially buy into it now As i was saying the more market more market moves higher It's almost like the more likely it's it's going to be higher. It's going to push higher It's going to continue moving higher because those investors who are keeping an eye on the other place around now They may may feel that the market is is correcting itself And push on higher from there, but depends on what your risk you potentially want to take on But also bearing in mind give that that the levels that we've come from the market could also We've only we've only pulled back about a third or less than half of the of the ground we'd laughed We've been blasted so the market could easily run out of steam and turn over on itself I'm like to have a new have a new leg lower So areas that we could potentially we could we could look to move move back towards We could potentially move back back back down towards 7,200 or perhaps even down towards 7,100 itself And obviously the big one to keep an eye for the downside will of course be 6,919 Which is which is a low from a from where? From wednesday, so from tuesday the 6th of february I'll turn attention now over to what's going on in the DAX It's a fair like I said, it's it's a fairly similar situation with the DAX So we've had the major sell-off here once again We saw a steady rise in negative momentum the the market's pushing higher here a series of higher highs and higher lows Classic sign of an upward trend are you also in a decline in negative momentum on the MACD indicator on the MACD histogram Areas to keep an eye on forward to the upside like I said It looks very similar to to the chip of the fuzzy chart and it is this area here In around 12,741 as you can see it actually This this price here actually does near near near enough support on a couple of occasions and resistance on one of the occasions It also coincides with the trading moving average So this could be a level to watch out for if you break north of the trading moving average here The next level to keep an eye on forward to the upside could be this price here Although just just just north of 13,000 notice how the two Three moving averages are actually are kind of coinciding over over around this area here in itself bearing in mind that If you look at the fifthly moving average the fifthly moving average act as support here I'm here on a couple of occasions in January and the third and one of the moving average managed to It traded itself of the one of the moving average here, but it didn't it didn't close below So these are areas that are pre is this this this price action here the fifthly moving average Those are previous history of acting as support. So therefore could act as as a resistance in the future I know a break north of that could look at could look at taking us back up towards 13,300 And if you go back beyond beyond that, then we could be looking at heading up towards 13,600 700 800 so on and so forth If the market if the market does manage to turn over on itself from here We could be looking heading back down towards the 12,000 and 90 a region or perhaps even down towards 11,900 Or maybe it is another major sell-off down towards 11,692 The u.s. Markets are in better shape than those in europe Take a look here at the Dow Jones as you can see here. It's it's a very similar story all over, isn't it? It's you know rapid sell-off here a lot of ground was lost But notice here how the thought the Dow Jones traded below its two-day moving average But on both occasions manage to kind of Bounce off of this Granted this is a good lesson in if you're looking at putting stop losses or entry prices or limits limit bias into the market It's a good example of If you're if you're looking at entering a market or exiting a market You don't want to be too wedded to a certain A precise price just because you may have had your stop loss Sitting at Above the turn of the moving average or on the turn of the moving average and then of course what do you know of the market? Trades through it and then bounce back up again and then same again here So it isn't always the case that I'll actually perfectly stop at a certain price We could see a scenario where a trade just slightly through it Or or perhaps even stop short of it. So just something to keep in mind But as we can see here the turn of the moving average there they're about acting as as a support for the Dow Jones The market's pushing higher here. We're seeing a Trend of higher highs a steady decline in negative momentum The market continues to push higher here. We've even actually closed above Holding above the 50 moving average which gives you an indication of how polished market is So if you continue to move on north of here, oh, sorry, I apologize. I kept saying the Dow Jones This of course is the s&p 500. I do apologize about that Other pushing higher here on the s&p 500 An exit area to keep an eye on forward to the upside could be this this price here of 2796 notice how active as a Resistance to the upside and support on the downside on this particular occasion here So it's an area which may act which may be an active resistance should you press on higher from here North of that 2800 would be the next big level to keep an eye out on and if you take out 2800, you know There's quite a good chance. We could look to get a tested a test at the the all-time eyes a few thousand 877 And then beyond that the next big psychological number that I go for will of course be 2900 Move to the downside We may find some support coming to play in around the fifth day moving average Which comes into play in around 2727 Notice how once again once we kind of got above the truly moving average on friday in that issue Just ever so slightly straight slightly below but by and large it acted as support Move to the downside once again. We may find some support coming into play in around the 200d 100 day moving average 2655 or maybe even down as low as 50 The areas to keep an eye out for and then obviously if you do have another major sell-off this price here South of the journey during the moving average this price here at 2532 That would be the big one to keep an eye out for seeing as there was a recent low in from february And look now at the dow Jones and it's going to be fairly similar situation on the at the dow Jones in terms of the In terms of price action. So we've had the we had the major sell-off Had the sell-off I saw a steady increase in negative momentum Now it's in the market push higher and recoup recoup some of the ground What we're seeing on the down on the chart here is a steady decline in negative momentum So the the the selling pressure the pressure from the bear is is in reverse is declining And all the while the mark is pushing higher and once again, it's pushed north of the 50 day moving average on friday and now we're actually sitting above the 50 moving average So if you continue to push higher here on the dow Jones, we could be looking at running into resistance potentially at this price action here of 2000 sorry 25,588 and then north of that up towards potentially heading towards 26,000 if you go beyond 26,000 there's a fairly good chance. We could be looking at testing the the old-time eyes of 26,706 and then of course beyond that, you know, tears looking for big psychological numbers like 27,800 900 and so on I think if you do manage to turn over on itself again If you do manage to turn over itself on the on the dow Jones, we could be looking at getting support from the from the 50 moving average in around 25,200 or perhaps this price action here of 25,106 And then if you move south of that again, we could be looking head and back down towards the 100 day moving average at 24,300 And it's only if you do have a major sell-off that can be looking at the testing the February low of 23,138 So all the while all the while the the indices are pushing higher We have seen a bit of a negative move on gold in the last couple of sessions As you can see here gold has been broadly trending Broadly pushing higher over the last year So it's been actually some quite choppy moves of buying large what you've seen is a series of higher highs and higher lows Obviously this this price action here be the notable exception But if you look at the price action since december over the last two months goes But it's very solid up for trend fast example of higher highs and higher lows Granted we have seen a bit of selling in the last couple of days But but if you do manage to get a drift lower from here It could be looking head back down towards 1340 or then south of that you could be looking head in the back down towards 1320 Uh this this price here and then if you move south of 1320 The next area to keep an eye for will be the kind of 1307 1306 area and then of course 1300 the big psychological number But as it was saying the trend for the last couple of months has been to the upside So if we do manage to push higher from here It could be looking at testing january's high of 1366 And if we go beyond 1366 you could be looking at testing 1375 and we haven't seen 1375 on gold Since the summer of 2016 it was uh, it was july of 2016 That was the last time we saw 1375 there. There are the price price points to keep an eye for on gold Usually gold Has the flight to quality effect of the quality impact and what that means is that Whatever there's uncertainty in global stock markets, we see gold do quite well But on the week here on early february when global stock markets sort of immense pressure and we're During severe sell-offs What we saw the price of gold and actually fell It fell because the value of the u.s. Dollar rose and the u.s. Dollar rose as I mentioned about those good wage data figures coming up That came off in the u.s. A few fridays ago Showed us that wage growth in the u.s. Is picking up and that got traders thinking about are we going to have i Are we going to have tighter monetary policy from the federal reserve and are we are we going to have it at a quicker rate? so early 2018 traders were thinking about possibly three rate hikes from the federal reserve On the back of those which on the back of the most recent wage growth data from the u.s We're now potentially looking at about possibly four rate hikes And that's why gold as it hasn't actually done as well as you would think it would so I would say nowadays recently Gold as the in gross relationship with the u.s. With the u.s. Dollar, which is traditionally had But if you're looking at trading gold, I'll keep an eye out what's going on on the u.s. Dollar and actually Speaking of them commodities and u.s. Dollar products would continue things going with the commodity theme and have a look at what's going on on the price of Brent crude oil So break crude oil since june last year was in a solid upper trend Classes apple of higher highs and higher lows in a solid upper trend This was largely built on the expectation that the that opec Would have a continued their production freeze throughout 2018, which of course they did Then there's already talking early january that that Saudi Arabia would look at would look at extending the production freeze beyond 2018 That's in the price of oil here to a fresh three-year high But since then we've had a bit of profit-taking and I've only had a bit of profit-taking We've we've had increase. We've had high stockpile levels in the United States and also we've had high Evils of output in the United States opec effectively Want obviously it's in their interest the price of oil to be driven higher That's why they had a production cut and that's why they extended that the timeline of the production brought on the production cut But guess what when you cut all production You drive the price up and you drive the price up you entice others and encourage others to actually start producing So the shared producers in the United States saw the relatively high price of oil as a as a As a trigger for producing more oil which they have done United States is now producing a over 10 million barrels of oil per day a record about the United States We also have heard from countries like Iran that are looking at wrapping up their production as well over the next two years so So this point here when opec drove the price of oil higher with the production freeze has not been met with increased supply and that of course is probably to do Some profit-taking so what I can say is that the big picture is still looking quite positive Notice how this high that the low here if this is to be the low That hasn't actually taken out this low here. So we're still in the upper trend It's been it's been an upper trend for six months. So we had we were used to some choppy pullbacks on the price of oil So This has happened to be one of the bigger ones Once again as the price was declining it saw a steady increase in negative momentum Noticing the price bounce back and we're seeing a steady decline in A steady decline in negative momentum. So we could be looking at a bouncing back from this move here. So I know to keep an eye out for to the upside Could it could potentially be the fifth of the moving average which comes into play basically out of about $67 a barrel on Brent notice how it managed to act as breathing nearly a bit It's sort in a way of actually a support on that particular occasion there and also act as a support and resistance back in july of last year If you manage to take out $76 a barrel That's that big big kind of psychological number to keep an eye out for will of course be 70 bucks per barrel And then if we go beyond that we'll be looking at targeting the recent Three-year high of 71 spot 38 and then if we go beyond that we could we'd be looking at fresh multi-year highs And we could be looking ahead into the resistance up towards 72 74 If you do manage to turn lower on the price of oil again We could find some support from the recent low here this this this particular candle here at last thursday's low of $63 and 32 cents and then if you go below that you can get support in around the 62 dollar mark area Notice how you can have some decent history of the kind of 62 dollar area acting as support It's going to be a fairly similar chart as well looking at wji So what i'm going to do now is i'm going to move on to wji And then after that i'll do a few currency pairs after any markets You guys want me to have a look at feel free to type in the chat box and i will cover those markets So as i was saying it's a very similar situation in terms of the price action on wji After reaching a three-year high the markets come off and and it's currently bouncing back Where once again we are above the fifth day moving average on a price of wji So if we hold north with 50 moving average, we could see this positive move continue A push higher and from here could bring us up to 65 dollars a barrel And then if you go north of that it could be letting you heading up towards 66 dollars and 73 cents And then of course beyond that we'd be looking towards 67 dollars and 68 dollars a barrel Move to the downside should we actually fall back below the 50 moving average We could we could find some support from thursday's low at 61 sorry 59 dollars and 73 cents And if you go below that this level here of 58 dollars and 10 cents will be the next big level to keep the barrel for If we do break that level there that that that would be quite significant And we could be looking ahead and back towards the december low of 55 dollars and 72 cents I should take a look now what's going on on the euro versus the us dollar So broad the big picture is that the euro dollar has been in a solid upward trend Bessie's over the last year or so euro has been Really been being pushing higher versus the the us dollar and in particular since november we had to cover quite a poor september true True late october, but but this is since november The the single currency has been kind of gaining ground versus the us dollar and in fact we actually hit a hit a new multi-year high here on february A new three-year high On Friday it just gone so so automatically they kind of tell you How kind of positive things are for it made a three-year high only a few days ago So if you could think to move on from here, uh, we could be like I'm retaking at 125 hit them towards 127 128 They're there is to keep an eye on forward to the upside on the price of on the euro dollar Any moves to the downside on the single currency versus the greenback could find some support in around the 123 30 area or perhaps even low down as low as one 122 itself Starting has also had a decent run versus the us dollar In the past a few in the past few months Since last may since last march rather if you draw a low between the lows of march and the lows of august You can see here that this this this trend line has been broadly been respected over the last number of the last say 10 months Granted on the number of occasions There were a few occasions with the market just trans you just dip below that trend line, but broadly speaking held up This is another good example of don't be too precise Which your stop losses or your limits to enter it your limits to enter a trade Seeing as the market has necessarily always, you know Stop at a precisely bang on where you wanted to on this at a particular trend line that that you may draw or the particular consolidation area or a particular moving average Markets don't always kind of fully Stop where you think they might stop so you guys have gave yourself a better leeway, but nonetheless While the pound versus us dollar is north of this this upper trend this trend line The outlook is likely to remain positive as you can see here Starting has been gaining ground versus the green back in the last few sessions It's been a steady decline in negative momentum So the sellers are running out of steam running out of pressure and if you manage to push higher from here We could be looking heading a backup towards 143 144 145 and if these are all levels That that would that that would have been seen since the night of the idea referendum when basically sturdy went from about just north of say 150 right down to 135 In a matter of hours Move to the downside in the pentathlon versus the US dollar may find support in round the in the kind of 140 area Which are pretty much sitting on now And inside of that perhaps down towards 138 139 or then below that at 137 64 Right i'm going to wrap things up now and in a in a few minutes time We are looking we do euro euro starting and then we'll do down at the end and then after that we look to We look to wrap things up But there are any kind of questions or comments that you do have feel free to feel free to sit to type in the box But they're the ones i've been looking at next and moving on So probably speaking since last august Starting has been losing ground versus the british pound It's in the especially the last few months the last few months It's definitely much range bound has been too exciting to be perfectly honest The decent support coming into play in around the zero spot 86 89 area these two these two levels here and to the upside Accounts seem to break north of zero spot 89 29 For the time being we're kind of at the higher end of that range As you can see here the market as since they january has been pushing higher So we could be looking at retesting the the 2018 high of zero spot 89 29 And if you go beyond that we could be looking heading back up towards zero spot 90 And then if you go beyond zero spot 90, we could be looking heading up towards zero spot 90 49 Any move through the downside may find some some support in around the zero spot 88 area And if you break zero spot 88, we could be looking at heading back down towards bottom end of the range Which is zero spot 86 89 All this this the last Market I'll look at now dollar versus the japanese yen So was anything with the dollar yen is that actually broke below? Last week we saw it break below the september low So the market has been in decline since november a classic example of a series of lower lows and lower highs If took out the low here in september, so we've now we've now managed to balance back Now the big question is if it's not the market here We'll look at it now at a weekly chart to give you an indication how far back that is if it's managed the market has managed to take out a low Not seen since august of last year and basically take us back to a level not seen since november 2016 over two year low We've uh when he broke through this price here We created a fresh two over in excess two year low say 20 26 month low So that that tells you Um how well bearish traders are on the dollar versus the versus the japanese yen But now we're in we are in any kind of any kind of correction or bounce back mode So the market is bouncing back the question is will this bounce back just be short live with a turnover itself? And I should have looked to push lower yet again So if you do manage to kind of push higher from here We could have got running into resistance potentially in round the 107 or the 107 32 mark 107 32 Was september's low and it didn't act to support on the way down But you know it is a possibility that a traders would be keeping up for that level north of 107 spot 32 We could be looking at 108 these areas we could potentially see the market push higher because you know markets are moving straight line But we could see the market push higher only to actually turn over on itself and then push lower yet again So keep coming up for 107 spot 32 or perhaps 108 We In order for us to kind of shake out of this shake off this downtrend that we've been in since November It really would probably need to kind of take off this the the February early February high of 110 spot 48 Before it could become more confident that this this that this move Um the negative move has come to an end and if you do go north of there The next day to keep an eye on four will be 111 spot 45 the two-day moving average And then north of that up towards 112 But if the market does manage to turn over on itself We could be looking at heading back down towards 106 105 spot 54 the recent low and then of course below that 105 itself Now what I want to quickly going to do now is I'll show you a few things on our website that maybe have been to you So every every day throughout the day by south of other market analysts around the world here at CBC markets Will do updates on our website Um, so indeed in the uh on the news and analysis section, you'll see what the update the update that they Here at 10 o'clock this morning is posted on here. You can find that by by continuous analysis and all the uh all the um Updates will be kind of collated together and it's kind of and there'll be several updates done Throughout the day will be posted there. Some of those updates are posted there Some of the updates are actually on the trading platform itself In the inside section now the inside section can be found by going on to market Market pulse and the second option down. So some of the some of the updates that we do Details will be posted in the inside section Uh, there's actually going to be a recording of this of this of this webinar is going to be on the inside section within an hour of time Also, what we have here a on is the chart forum and a chart forum is essentially Uh, it is essentially A screenshot of a particular chart and then my analysis or michael's analysis or one of the other market analysis Surrounding that particular chart. Uh, it's updated several times a day and you can actually update things there yourself So feel free to uh to kind of Begin a conversation on the chart forum and the chart forums can be found once again under market tab I then click on the third option down market forum I'm sorry chart forum rather Uh, and then last but not least I just want to talk to you about other webinars under the webinars and events section Where you where you found the login for this webinar? There is a webinar on wednesday the 21st of february at 1930 gmt half seven p.m. UK time It's a guide to modern technical analysis Which i recommend tuning in for and then of course next monday the 26th of february At 1215 i'll be back in the hot seat doing the monday market update and on wednesday the 28th of february at 1930 gmt Half seven p.m. UK time There will be a webinar in the evening on risk management for leverage trading which i suggest You sign up for as many webinars as you can against much information under your belt as you can Well, I do appreciate your patience and I do appreciate you tuning in and listening to me today From all of us here at cmc markets. I hope you have a good day and a good trading week. Thank you very much. Bye for now