 Hi, good morning, hi, good morning and welcome to today's products and focus well as a little bit of a bloodbath the markets as China sold off more aggressively overnight You can see the incredibly bearish candle that we had on yesterday on the US 30 breaking below 17 034 and that move has been accelerated down this morning Now if you look at things from a traditional technical analysis point of view the next potential support level that you have on the US 30 is significantly lower Around about 15 868. I'll be it. You could probably take this level down here But it's not going to necessarily be as significant, but A lot of down was actually still possible. We're accelerating away from the move for the moving averages The other technical indicators are relatively neutral sands the RSI that's just gone to oversold territory But I think it actually hit there yesterday So what has kind of been the extra precursor to that? It's been the PMI data from manufacturing data From China expected to come at 47.7 came in at 47.1 That point six change is the widest fastest decline since 2008 2009 over in that region and very much a lot of mainstream news are reporting the slowdown in China and the head of the FSA over here in the UK even made comments about the Kind of lack of credibility and some of the figures that are coming out of China as in some of these figures Potentially could be way worse than what they're actually reporting and that's having a big knock on the facts So with commodities in particular you have Gold shooting up as a safe haven. You've got the West Texas crew still hugging around about 40 spot 40 Whereas many other commodity markets at copper is languishing around six and a half year lows And the UK 100 is actually off the session lows. It went much lower this morning down in 6208 And now we're at a 6284 so there's been a strong bounce this morning I'll be at the move has been quite exacerbated with these three black crow candle formations RSI oversold not surprising 6262 96 or only about 6300 is the potential support It's not above that line just now the next potential support past that is 60 73 So you are talking about another 200 odd point potential move before you hit the next significant support level Again UK 100 getting particularly hard head because of our exposure to the commodity markets with mining stocks and BP shell with crude oil So in Japan to do five firmly crashing through 20,087 accelerating has moved to the downside this morning Dollar yen reverse course as well So people are buying safe haven yen at the expense of the US dollar Rate hike in September seems very unlikely at this current stage with the markets retreating the way that they are just now The tips of these candles for Japan to to find her in about 19 1 1 5 could be the next potential support Then followed by 18 648 bearish crossover on the moving averages other technicals are neutral sans They are a sigh also oversold So looking at that dollar yen dollar yen Three negative candles 21 83 as a potential support level other technicals neutral apart from the MACD That's just about the cost of the zero line Moving on to West Texas crude Fundamentals aren't very supportive $35.30 the next potential support with $42 expected to act as potential resistance in case we do get any sort of bounce Weakness in the US dollar should be held in West Texas crude, but it's not really so far this morning Gold and unsurprising is the one to watch it was actually much higher this morning had gone all the way to 11 69 Really 11 86 the next potential resistance for above both moving averages other technicals accelerating exceptionally fast With the MACD crossing the zero line just now another positive aspect They'll be similar to the reversal that we've seen in the UK 100 this morning gold has sold off And it's way way away from this It's highs of the day But I don't think anything's really kind of changed with us interest rates following our initial discussion That September just feels like it's just not gonna happen even December at this stage When the world stock markets are selling off that this seems to be unlikely So looking at your dollar, you can see the dollars pretty much is rolled over With a very strong day for the Euro yesterday Obviously, you've got the the Greek Prime Minister has announced down for fresh elections That's just really a distraction. It's all about China at the moment and the state of their economy and You can see that we're even making a little bit of fresh ground on your on dollar Your dollar sorry with one spot 1475 the next potential support. We've finally gotten away from these long-wired candles So finishing up with GBP USD Moving to the upside one spot 5743 as a potential resistance or we're above more Moving averages other technicals are quite neutral and that's currently where we stand with them So we've still got a whole host of PMI data to come out of Germany the Eurozone and you've got UK public finances and your zone CCI We are quite close to finishing up the Asian market as well. So the Chinese stock market will post its final figure for the week I think oils had its longest losing streak and 20 since 1986 29 years So that's not a very good headline to have for that commodity as well. And if we fast forward on to Monday You can see that we've not really got a huge amount going on to Tuesday You've got more German GDP business IFO business sentiment index data and then you've got a US CCI Unluckily, we don't have any more Chinese data over the weekend to cause a lot of trouble Keep your eye on the chart for them. I can already see that on Jasper and Michael Houston They're gonna be doing lots of analysis across these key markets Make sure you get a chance to see that add insights to your layout lots of very important updates throughout today's session I think today's session is going to be particularly important for a number of traders And catch me again on Monday to find out what happened next