 Hi, good morning and welcome to these products from focus. I guess what many traders are currently looking at today is the 7% move down and crude oil overnight and Those wild price swings are what's giving West Texas crude the nickname of the widowmaker Right now because if you're on the wrong side of it heaven help you if you're able to call it right However, it's a very very profitable product. There's not many other Major commodities out there that has such wild price wings, but it does make it problematic to trade Especially if you're not utilizing stop losses in that regard as well So what's caused those well price swings? Well, it's news that Iran is not going to play ball They're not going to cut their production as as many commentators were were hoping obviously It's all about market share right now and it's still so incredibly political And what makes that move and crude oil even more impressive is the fact that the the dollar has actually lost a fair amount of value Yesterday we're not fair amount of value, but it came off slightly yesterday Which had it been the opposite direction you'd have seen an even more exacerbated moving move and West Texas crude as well So it has been a bit of a tough one to trade But for those that are feeling quite quite brave, it can be quite lucrative as well I guess what we're seeing in other markets is equities I've kind of pretty much just stalled after their big rally that had there on Friday slowly just slightly drifting down Not that much activity on there just now I think most markets are probably waiting for ADP private payrolls on Wednesday But of course, it's non-famperals this Friday Which many people will be waiting for for more clues as to interest rates in the US Gold as well is also quite interesting. So gold briefly touched $1,100 yesterday. Not that much momentum We are actually kind of had hope that would have pushed up that little bit higher And when you consider that we might be talking about low rates for longer in the US And we actually had another Fed member come out last night basically down playing interest rates in the US You've got more market uncertainty at the moment And also we briefly talked about the fact that the dollar took a bit of a back seat last night Gold's not really had that momentum to break up that much higher So basically should we see an instance where the markets then recover like stocks then push up The thing to watch out for is gold might have an exaggerated move down Because it's not pushing up quite as high as you would like when everything's going in its favor So those are pretty much to come and themes so far today Oh, and also the rating agency standard and poor perhaps unsurprisingly in this environment have downgraded US oil firms So that's weighted slightly on the US markets, but not that aggressively shell in particular They're a little bit hard hit. So let's push on to the technical analysis portion and we'll start off as ever with the US 30 So as you can see there, this is our Friday move pushing up higher a little bit of indecision yesterday But still moving down more indecision again. We're off the session lows Still negative territory 82% of CMC markets clients are currently short Moving on to the UK 100 the moves are slightly more exaggerated We're closer towards potential support round about 6,012 and we're not a far away from there just now We did push that a little bit lower yesterday Obviously commodity prices way a lot more heavily on the UK 100 than the US 30 56% of CMC markets clients are currently short Moving on to Japan 225 just keeping its head bouncing off 17 6 35 The other technicals are relatively neutral run between two ranges This is a level that is going to be strategically important in the short term next potential resistance 18 531 I move below 17 6 35 opens up a potential move towards 17 181 And as I said 56% of CMC markets clients are currently short Moving on to dollar yen dollar yen has not managed to capitalize on that on that move that we saw there on Friday Even though we've had negative rates in Japan basically Japanese yen is kind of bucking the trend from from gold It is a little bit more of a safe haven aspect than that than gold at the moment though We have had a bounce off 120 spot 36 96% of CMC markets clients are currently long and they're target dodgerbanger targeting 125 The next potential resistance is actually at 123 spots 60 Then moving on to West Texas crude aka the widow maker And you can just see the severity of that move yesterday closing the bottom of his range closing below the 21 period SMA Longer term potential support 26 spots 69 a failure to break anywhere near 35 dollars to be honest 31 spot 53 will be that potential resistance level in the short term 53% of CMC markets clients are currently short showing a difficulty in picking a direction right now Moving on to gold as you can see their gold is briefly managed to get to 1100 It's not managed to to break through that much more bigger, but one 1131 is a potential resistance the next potential support 1113 should things retreat ever so slightly other technicals are relatively neutral 79% of CMC markets clients are currently short as I said if we do see a recovery in stocks, you might see an exaggerated move back down towards 1113 Finishing up with the FX pair is your dollar still trading within this symmetrical triangle formation It's not remotely interesting until it breaks out either this side or breaks at this this side And the there's big question marks over the March meeting for the ECB will the embark on more QE will they buy more stocks? Will it be an interest rate cut? That will be an interest to move for For the euro and that's what we really maybe the markets is waiting for more clarification in that regard But we're not seeing a huge amount of volatility In your dollar obviously we had this big move there on Friday But we need to get outside this triangle before we can get some further momentum 81% of CMC market clients are currently short with cable cable I had a great day yesterday, but breaking through potential resistance one spot 43 Trading above that 21 period SMA has failed to fall through capitalized this morning I think one spot 43 51 could be a potential support level to be aware of and 83% of CMC markets clients are currently short So if we keep our eye on the economic data, we do have employment data from Germany today and from the Eurozone fast forwarding on to Wednesday more PMI data and crude oil inventories You do have ADP private payrolls as well on Thursday you do have the industry announcement and employment claims that shows from the US and on Friday Of course gives you your known farm perils figure and unemployment rate as well So that gives you better an idea of what to expect in these markets Well guys very good luck with your trading and join me again tomorrow to find out what happened next. Thank you very much and goodbye