 Hello, and welcome to the weekly market update with me, David Madden. Today's date is Monday, the 30 June 2019, and the time has just gone 12.01 British summertime. It's been a fairly negative start to the European session. Essentially, it's got the same old story over the last few days and weeks whereby fairly high trade tensions across the world, largely with the US at the center of it, has actually really continued to weigh on global sentiment. We're a bit lower on major European markets today, but we're certainly off the lows of the session. There's obviously a few factors going on in relation to global trade tensions. In the last few days, the Chinese levies on $60 billion worth of US goods, they've kicked in. China's now looking at launching an investigation into the American delivery company FedEx over allegations that FedEx deliberately rerouted goods that were destined for China, for the company Huawei, which were supposed to be right in China, but wound up in the US instead. As the investigation going on for that, this could be construed as an attack on an individual US company just as how the US have strict restrictions on Huawei, the Chinese tech giants products that could be seen as going to tit for tat. In relation to the US and Mexico, the trade tensions are still running high there over President Trump's threatened high tariffs on Mexican imports in relation to migration. This comes not too long after Mexico and the United States and Canada all agreed a new trade deal, a replacement to NAFTA, but of course President Trump is still bold on his head with his threats. That's the way the global sentiment. Speaking of President Trump, I actually arrived in the UK today and tensions are in some quarters a bit high. Given that President Trump has known to kind of actually weigh in on domestic affairs of other countries, we might hear some commentary from President Trump in relation to who we think should take over as Tory leader and in turn likely to be the next Prime Minister of the UK. He's already made a comment saying that Boris Johnson would make a good Prime Minister. The last time he visited the UK, he'd no problem telling people what he thought in relation to the UK's handling of Brexit negotiations and what about the future. So it's likely we could hear similar comments from President Trump. So things to kind of watching out for, we could be the speculation that the US could threaten a narrower sharing of intelligence with the UK in relation to the UK's relationship with Huawei. Keep an eye out for any comments about potential trade deals down the line once the UK actually leaves the European Union because President Trump, because the UK post-Brexit Britain will want to be striking trade deals around the world. And obviously what we're looking for a good deal with the US, so we could hear some commentary from President Trump in relation to that. These are all the kind of big issues of what's going on. So I'll take a look now at some of the major markets starting off with the FTSE 100. Global equities have a fairly similar theme whereby the FTSE 100 hit a multi-map high in April but since then we've had a lower low, a lower high and another lower low. And this could be the sign, this could be the beginning of a further move to the downside in the FTSE 100 and also global equities as well. Ultimately what we remain south of this red line here, the tourney moving average on the FTSE 100 and that comes to play at 7164. While we remain south of that we could see further downward pressure around it. We could be looking back toward this area here, the late February low in around 7040 and the move below that might bring the psychology important 7000 metric into play. Move to the upside and the FTSE 100 could run into resistance in around the tourney moving average or also this yellow line here at the watered moving average which comes into play essentially in around 7200. So not only is it a big psychological number but also we've seen a few occasions that metric did manage to act as support recently so it could act as resistance in the near term. And the moves beyond that, we really would need to be taking out the mid-may highs of around 7372 in order to make it more confident that the recent downward trend has ended and we're looking at a resumption of the wider upward trend that has been in place between between late December and April. I take a look now at what's going on over in Germany on the Dax. Similar to the FTSE, the Dax hit a multi-move high in early May and now we're seeing the lower low, lower high and another lower low. So we're pretty much hovering nearly very close to the Daxes. Tourney moving average which comes to play at 11621. If we can hold above that we could look at actually kind of potentially moving higher and which would be in theme with the wider trend of 2019. And if we can move higher from this area, we could be looking at heading up towards this blue line here, the fifth moving average which is just shy of 12,000, 11,985. And we can see on a few occasions there thereabouts that metric did manage to act as support on the way down. So it might act as resistance in the near term. And if you know, we have north of 12,000, then keep a line for this area up here in around 12,300 and 18 or so, the mid-May high. But if the market does manage to have a size of break below the tourney moving average, that'll be, you know, obviously, further multi-move lows and you know, obviously, you know, yet again another lower low. So we could be looking at heading down towards this area here in around the kind of 12,000, 11,400. It did manage to act on a few occasions as support in early 2019. So it could do a support again in the near term. Take a look now at the Dow Jones. So coming off the highs of late April or early May, you know, demonstration where I've seen a lower low, a lower high and another lower low. So we're at you know, multi-move lows and the Dow Jones. And if you can, and you can see it has been on the MACD indicator on the MACD histogram, there's been a fairly steady increase in negative momentum. So as the market's moving lower, that's been confirmed by the steady increase in negative momentum. So they can press a lower from here. We could be looking at trying to get in this area here in around the kind of port, psychology port, 24,000. But if you didn't manage to have a bounce back in the Dow Jones, we could be looking at heading back up towards this red line here, the Trinity Moving Average, which comes into play in around 25,420. And you also notice that this trend line kind of almost effectively kind of coincides with Trinity Moving Average. And this trend line is quite old. So if you take a trend line from the lows of February 2018 to the lows of April and also May 2018, you get this line along here. We can see that acted as resistance and support in early 2019. So the possibility of that metric might be important again, especially as it can essentially overlaps with the Trinity Moving Average. And it's only really if you have a kind of a size or a break below above that trend line, which also coincides with the Trinity Moving Average. So if you have a size break above that, because then we become more confident that the kind of at the recent negative move has come to lend at the more medium term, upward trend is continuing. So if you press on higher from here, we could be looking at targeting this blue line here, the Trinity Moving Average, which comes to play at 25,992. It is a very, very similar situation on the S&P 500. By coming off of the highest hour set in early May, we give the lower low, a lower high, and yet again another lower low. So a steady increase in negative momentum. So if you kind of press on lower from here, we could be looking at targeting this area here, one of the early May lows in around 2722. And sure we've got beyond that, we could be looking at it towards the psychological important number of 2700. Similar situation whereby if you do have a bounce back in the S&P 500, resistance might come into play from this red line here, the Trinity Moving Average, which comes to play in around 7772 and also coincides with the trend line. And if you take a look, if you draw a low between the lows of February 2018, sorry, apologies, the lows of February 2016 and the lows of November 2016, we get this trend line along here. We can see that that metric was respected on a few occasions in the 2018 and also 2019. So if the metric is important in the past, it makes it more likely it'll be so in the future. So given the fact how that trend line is kind of in around the same area as the Trinity Moving Average is likely to be important. So while we remain south of it, it's like it's likely that that outlet should remain negative, but if you can have a size move back of it, that could be a sign that the recent negative trend has come to an end. So if you press on higher from here, we could really get targeting this area here in around 2840. Now we've talked about how some of the major global indices equity markets have been printing multi-month lows, given the uncertainty. But one of the areas, one of the markets which has been benefiting from this uncertainty and fear in relation to trade has been the gold market. So we see the gold market press on higher today, as it did on Friday, and we see the gold market now back at levels not seen since date March. And we're currently in around 1316, the gold market. And if you could hold up on the psychology important 1300 mark, it's likely we could be looking at re-testing the kind of middle late, middle late march highs of 1324. And if you go beyond that, we could look at any toward this area here in around 1340, or potentially up towards the kind of the February highs of in around 1346. Any move to the downside in gold are likely to find support from the kind of psychology important 1300 mark are pressing this blue line here, the fifth the moving average, which comes into play at 1287. And we can see that metric managed to access resistance in mid April, and also act as kind of both support resistance and support very recently. So once you get a metric has been has been important in the past, makes it more likely it will do so in the future. Turning attention now to what's going on in the in the oil market, it's turning up a Brent crude. So Brent crude, like global equities, has had a fairly similar move by between late December and about April May. It's a fantastic run. But since then, we see the markets turn over. So the wider picture, you know, go the oil market is very much upwards on the year. But as you can see here from the highs that were created on Brent in late April, we've had a lower low, a lower high, a lower low, a lower high. And so we've got a nice series of lower lows and lower highs. And that's still intact. So we could potentially lose further ground on the oil market. And Brent could find support from this area here, they got a psychology point 60 bucks per barrel area. If you do manage to press on lower from there, we could be looking at targeting this area here in around 57 spot 50. But if you do manage to have a bounce back in the oil market, resistance might come into play from this yellow line here, the water moving average, we can see that actually has support in the early part of 2019. And a few occasions, the market didn't quite get as low there, but nearly there bounce back as a support only in the last few weeks. So keep an eye out for 67 spot 57. And also kind of the 68 region and the charity moving average comes into play at 68 spot 92. So that entire block means a 68 spot 92 down to 67 spot 57. That region might act as resistance to any bounce backs in Brent. Take a look now at WTI. WTI service formation had a great one for the first month of 2019. We've had a lower low, a lower high, a lower low, another lower high, and yet again, another lower low. So very recently, this the trend in WTI has been very much at the downside. And if you can press on lower from here on WTI, we could be targeting this area here in around the kind of mid January lows of it around 50 spot 36. So between the 50 spot 36 to the psychology port and 50 bucks per barrel, they might act as support should we continue to see further losses on the Brent all market. Also at the WTI market rather, and if we move lower from there, the next area, potential area for support could be around the kind of 48 dollars a barrel mark. We can see that there was some consolidation from the 48 dollars mark in early January. So once again, it might be important in the near term, similar scenario, if you have a bounce back in the WTI market, the one or the moving average in 58 spot 44, up to the 20 moving average, the red line at just shy of 60 bucks per barrel that might act as positions. Take a look at our currency pairs. So Euro dollar continues to be in a fairly obvious downward trend, a series of lower lows and lower highs. There appears to be decent support from this area here in a one spot 1110. But if you do break below that, we can then be looking at that down towards the kind of psychology, psychology port and one spot 10 metric. Any move to the upside in your dollar are likely to run to resistance from this blue line here, the 50 moving average, which comes into play at one spot 12 or five, there they're about. We can see that on a few occasions in the last few weeks and months, the 50 moving average managed to act at resistance. So keep an eye out for that. But if you do have a size of the move above the 50 moving average, we could be looking at targeting this region here in one spot 1322. I take a look now at the British pound versus the US dollar. I mentioned President Trump is in town, so keep an eye out for any comments he has to make on the state of British politics or the relationship between the UK and the European Union or the potential, the new relationship between the UK and the US post Brexit. So keep an eye out for that. We could see volatility in the pound over that. The pound has had a terrible run the last few weeks. We can see you know, quite a few losses in recent weeks and the fact only on Friday would be fallback to 11, not seen since that, since early January. So if the negative run on the pound continues, we could really get targeting this area here in around one spot 2476. But if you do have any kind of move to the upside or kind of snaps back in the cable British pound versus US dollar, it could run into resistance from this area here in around one spot 28. I take a look now at the week ahead. The week ahead article can be found on our website. If you're going to see us in markets.com under news and analysis, you will find the weekend article and looking ahead for the week in terms of corporate and economic announcements. Ayo world portfolio results tomorrow. Tomorrow and Wednesday, we have the Reserve Bank of Australia in straight decision, Australian GDP and also retail sales coming out between what cross Wednesday, Tuesday, Wednesday. We first quarter figures from salesforce.com tomorrow and Tuesday. On Tuesday and Thursday, we have Eurozone inflation and also the European Central Bank meeting. The ECB are launching a new round of track liquidity at the back end of this year. So hopefully get more details on that. On Wednesday, we fully are figures from workspace, the non-listed company. On Wednesday, we have an update from the page book which gives a snapshot of the state of the US economy. On Friday, we have the all important non-farm payrolls report. We are holding a live webinar of the non-farm payrolls report. So please feel free to sign up for that. On our platform, cmcmarkers.com, this is under the learn section. You can see the webinars and seminars page. And also on Friday, we have the Canadian jobs data. So we would like to see volatility in the US dollar and Canadian dollar. And also keep mine on Friday and trees in May is stepping down as leader of the Conservative Party. So keep an eye for political headlines in relation to who is likely to be the next Tory leader and in turn British Prime Minister. Have you any comments to make on this video or any of the other videos we've made here at CFC Markets? Please feel free to leave a view on the interviews. And that's all for this week. Thank you very much.