 really pretty crazy, went from being at the lowest in three years on the FTSE 100, for example, to seeing one of the best two-year gains in a number of years. And likewise with all prices, down at 13-year lows, rebounded back with almost 10% gain over a couple of days. So some big price moves going on and obviously that's great for trading. And we're going to obviously have a look at what this week could bring and some of the main important factors for some of the more popular products that we tried to see in CIMC markets. So as you can see on my screen here, I just think I've divided up by sort of major asset classes and see the effects commodities. So we're going to get into that, some of those, and if you had any particular questions on something I'm not covering by default, then just feel free to let me know. So I'm just going to kick off with, you know, to kind of work my way down here, for US equities. So here we've got the US 30. Let's get out a bit here. This is something I'm sure you're all quite familiar with. Really big level here that we're currently bouncing off. It's that low that started off in February of 2014. So almost exactly a year ago, sorry, two years ago, of course. And we came into it again in August, rebounded sharply, didn't quite make it to the highs, and now we're back here again. But if you look at this weekly candle that we experienced last week, that's quite a dramatic reversal. Finished higher for the week when it was looking like we would be heading to these multi-year blows below that low, as I mentioned a couple of years ago. So huge level and to some extent understandable that we're seeing about also corresponds with this 200 week SMA ends up on a lot of people's charts but not necessarily as significant as the 200 day. So here's the kind of configuration that we find ourselves in. Still very much a lower low being formed according to the weekly chart. And still that was the latest lower high form. So still in a downtrend. But we've got to be aware of this long-term support. And that was pretty much what I was saying in last week's webinar that we're downtrending, but we're heading into this big support. There was a big support level here. We saw a little rebound, but it gave up the gains almost straight away. And we went down to the next support or almost down to the next support and have rebounded since. So I'd say the next, we see RSI coming off this oversold level. We're getting a strong bounce within a bearish trend at the moment. And that's the way it always tends to work is that some of the biggest updates that you see are in a bear market because it's people who are short of market panic kind of covering those short trades. So the next logical one would just be where we got that sharp rebound from the initial, if I draw in that support, it can make a bit more sense of this. We've got the bounce off there, but it all ended on that same day and we ended up pushing lower. So that will be logically the next source of resistance if we can push that higher, that much higher. And I think we should be able to before reexamining these lows. And then logically the next one beyond that would just be the next daily high. There aren't any really serious swing low points to consider here. I would say it's not such a strong reversal point as this level up here. We're paying attention to the RSI though because we did find a lot of support at the 40 level while we're in this range. And then we dive down as the trend broke. So back up to 40 was support could become resistance again. So be mindful of a perhaps a price level around this 16, 282 and a 40 level on the RSI. Or obviously look at your own technically indicated for some sort of equivalent levels there. Fundamentally why the drivers here? Well, as a way it's probably going to be China and oil prices. China was a bit quieter last week in that the currency is basically not really moved since that first crazy week in which there were some dramatic devaluations of the currency. The currency is basically stabilised since I think the people of China realised they were causing panic in markets. So that to some extent has lessened the concern over China. And obviously we saw that bit of data last week which although slightly disappointing was not too worrisome. So China slightly on the back burner. Oil prices certainly well up there in terms of a consideration. We'll cover the chart a bit at the moment. And I think largely what we are seeing at the moment is a sort of a technical rebound from a very bearish market with a few sentiment indicators that are a bit extreme. The other thing for U.S. markets will be that we've got some pretty prominent earnings from some of the high flyers. Apple being a big one but also Amazon and Facebook kind of need those leaders doing well again to take U.S. markets higher if Apple continues to underperform. It's hard to see the biggest stock in America underperforming and the broader indices doing that well. Obviously you look at the S&P 500. There's 499 other companies there to carry the index higher but sentiment towards Apple does spread across the rest of the index. Let's have a look at the UK 100, our proxy for the FTSE 100. This is the longer term monthly chart. Again a big level here you can see that we ran into and rebounded from just like U.S. markets did. Looking like we're going to be down on the month for January to see it ending in a month higher at this point. Nonetheless you can see that we saw a nice reversal on the weekly chart here. Right off that, we sneaked below it I think slightly but pretty much, I don't know if this box is here I'm just going to get rid of that, soybeans. Right off that 5600 level really and we're getting a nice rebound from there. Still structurally in a downtrend according to the weekly chart we could stretch that down to here. Not have this confirmed as a low and low yet can just kind of leave that to remind us of the weekly bias. We're below that 200 day moving average so still these kind of reasons for caution over buying too heavily because the overall structure on the longer term is still to the downside but we've seen a big rebound off this long term support and good grounds to believe that we could push a bit higher from here. We got down to the daily chart. This was kind of support, broken, turned resistance and I think that could act as some resistance again on the way up but I suspect that we can actually push maybe into this declining trend line up above the 6100 level if this push higher can continue. God that was fairly substantial swing line so maybe in that 6050 area we could encounter a little bit of pullback but I think the nature of the environment here is that we're in this kind of structural downtrend but we're probably about to begin a bit of a stronger correction higher so the choice is it's really down to your own tolerance. Do you trade expecting a bounce within a downtrend or do you just stand back and wait and look for an opportunity higher up for an opportunity to sell again if the structure still looks bearish? I mean that's my take on it for what it's worth of course and you may have a different opinion that it's about to immediately break down and there isn't going to be a big push higher but to me it looks like there's going to be a bit of a push especially if we get through this 6000 level again on the UK 100. What are the drivers? There are some sales reports but I think that will probably be more of a sort of decider on which sectors outperform. It's largely going to be driven by the miners and by all companies again. China and commodities have been the biggest reason for this pullback in the FTSE and fundamentally I think you've got to look for those drivers still. Now the big vent of the week, particularly for currency markets is the Fed meeting. Well actually one chart I'll just mention I don't know if you follow it on Twitter but this is something I tweeted. I think I may have put it in the chart form as well. Let's see maybe I can find it in the chart form. Oh there we go. US dollar index. So this is just the obviously it's not a continuation chart it doesn't go past the beginning of the futures contract start at the beginning date in terms of when we first started trading it but you can see that this was a big level that we pulled down from. Quite a big reversal there. It did push higher on Friday after that big sell-off on Thursday but I suspect this could be tricky to get back down from. This is on 99.89 it says here. 99.90 basically that 100 level. Maybe a little bounce up to 100. Flush out some of these. Some of the people short after this down at the lower levels. They'll push high into 100 and roll over again as possible. We saw a big rejection up here above 100. Push down we've managed to get back up and then we're getting rejected again. A lot of open supply at 100. If we do competently get above it the game changer and it looks like the dollar is pushing higher but we've got this Fed meeting this week so whether this 100 level holds is probably going to depend on the Fed and whether they signal that what they've signaled to date is still what they believe. So they've basically signaled to date that they believe in about four rate rises this year. If because of the turmoil in markets the stronger dollar and the weaker oil price affects their inflation forecasts they're going to maybe hint that it's not going to be four this year. Maybe more in line with the market consensus which is more like two re-axis here is what the market kind of prices in. Look at the Fed funds futures at different markets. So this will be the biggest deciding factor to my mind as to whether this level holds. To me at the moment looking like the US dollar could roll over and that does kind of fit in with the picture for the euro. I think the euro is looking fairly resilient especially when you bear in mind that last week the ECB signaled that they want to expand their monetary stimulus at their March meeting. They didn't say they would but it was pretty similar language to the October meeting when they hinted they would do something in December and they did do something, they did something fairly underwhelming as you remember that was the cause for this massive 300-pip rally but we've been consolidating since and this was the day of the ECB announcement on Thursday but pretty much just we dropped down, came off the bottom of the range and just came right back into the middle again. We dropped again on Friday which obviously is in line with that dollar rally that euro dropped but we're still basically in this 108-110 range. Now maybe there's room for a little test of the 107 level again but we need to get below that 107 to really kind of tell us that actually this euro move is over and that we're trending back down again in the euro and that 107 in the euro to me is probably going to be in and around and 107 to 106 perhaps is about the same as the $100 index in terms of significance. At the moment it looks like we could actually perhaps push higher out of this range that would be a push higher consolidation than break to the top side. That's against the current trend, we're below the moving average the weekly chart kind of tells us we're trending down but the euro has been pretty resilient in the face of quite bearish news which is that more printing of euros which should devalue each euro. Looking at the British pound, obviously it's been an absolute stinker recently but quite a strong rebound last week so look at the weekly chart. I think you even need to look at the monthly chart to get significant to this level. Right down at these 2010 lows we got through it so actually means we're at the lowest since 2009 but we've closed up back above the level and that's textbook hammer reversal. That's a bullish reversal pattern at the moment. The confirmation of the pattern would come on a break above this resistance I've signaled here which is basically the top of the previous week, the high of the previous week. Is it the high or is it the open? Let me just confirm what I'm actually saying. The high of last week, a close through there this week would be more of a confirmation of the pattern. Down here you're going to get better value but the pattern is more likely to fail. Above here less likely that the pattern will fail but obviously buying higher in the market. The daily chart almost belies the strength of this rebound in the pound. Nonetheless, very much a sharply declining market still. All the trending indicators are still pointing down. It's just a bit like equities where we're in a big bearish market even more so with the pound than the US stocks but we're going to rebound off this strong weekly level. So the question mark now is do you buy off the long-term level against the trend or do you wait for more confirmation the trend pushes higher or just assume that the trend is going to resume we're eventually going to break down through 141 and wait for that break for the level to get back in on the trend. These are all decisions according to your trading strategy obviously. But I think above 143.55 probably back up to this 145.70 marks which doesn't make much sense in the daily chart but on the weekly you can see that it's this 2015 low. We'll probably to my mind be the next logical step should we break above last week's high. Drive as wise, the main UK data is the GDP that on Thursday. So probably more influential will be the FNC meeting we've already talked about. A few indicators showing the UK economy slowed recently but I think that's part of why we've seen such a down draft in the pound. So I think it's probably largely priced in. So if anything if we get a positive surprise on the GDP data that would probably just add to the potential upside here. I don't think worse than expected GDP from the UK is going to influence the situation much. It may add to the downside if we hear bullish rhetoric from the Fed. We obviously generally mean strong dollar week pound. Now certainly we've covered Yen but it's a big currency level here. It's come off a strong level and the reason we're seeing that we've seen some dollar strength here that kind of fits in line with pushing back into that 100 level on dollar index. The Yen, the safe haven currency, we've stabilized in equities a bit. But also there's an off chance that this week Thursday evening slash Friday morning we're going to hear more stimulus announced from the Bank of Japan. It's hard to see the dollar Yen pushing much lower if we do hear more policy stimulus announced but the Bank of Japan could make a bit of a mistake like the European settlement did and underwhelm with how much extra stimulus they add and that potentially could cause a further weakening of dollar Yen. So we need to look at A, do they add any stimulus and B, is it enough? Now as I mentioned, still one of the biggest most significant markets out there at the moment is Crudor. Zoomed in down to a four-hour chart here. So this is the rebound that we've had off the lows. Worth noting, I think, that this is similar for the front month futures contract as well that the 50% retracement is almost perfectly on the $30 round number. So a confluence of support there and just above it is this previous swing high from the 19th of January. So this kind of area offering some potential support, although we have already got a bit of rebound from the 38%, retracements. A few people getting in early. If we do dip down further, this could be an interesting area. If we did get below 30 again, I think a lot of bets are going to get called off in terms of this being a sustainable rebound and we could push into the lows again. So to my mind, 30 a bit of a pivot area in Brent and you can see a pretty equivalent kind of setup with just the slightly different prices in WTI. The strong daily rebound, an engulfing pattern here, follow through, we basically found resistance at these series of highs here, this low and then these series of highs just below the 32 level is what we're getting a pullback from at the moment. So it's a decent area of resistance. It's natural that we get a pullback from here. So it's just a matter of how long does that pullback last and actually isn't even a pullback. Or do we just dropping down right to the low again? Here's the weekly chart and it's from pushing into the 12 year lows, we're now back up and we closed last week higher. So may cause a few oil shorts at these low levels to think twice about going short again this week. So room for a bit more recovery, I think. But obviously keep in mind, that the trend is still very much to the downside. Just last one on gold. So this was, you know, I probably need to remove that now, but this was my highlighted area of possible confluence of support here. So I'm going to have this trend line up through here somewhere other supporting price at the moment. The resistance is at the 1,110. So we're consolidating beneath that resistance. Gold is also very sensitive. Excuse me, two movements in the dollar. And so again, gold is kind of awaiting this Fed meeting. So as gold is, you know, less rate hikes from the Fed being symbolized should weaken the dollar and strengthen gold. But if equities move substantially to one way or the other, that's going to affect gold price. So I'm going to go ahead and do that. If equities move substantially to one way or the other, that's going to affect gold prices. I mean, gold is a safe haven. So if equities rally from here, from these supports we were looking at, gold is probably heading back down beneath 1,180 again. Oh, sorry, 1,180 again. So I think that's probably the bigger driver of gold at the moment is that haven flow rather than inflation expectations. So if equities rally, gold will be heading lower from here. Likewise, if maybe if equities go nowhere or if equities drop off again, then that could be the catalyst we need for gold to push below the 1,110, which has been that resistance so far. And you know, given the significance of this resistance and it's also kind of the floor from back here, there isn't really too much stopping us. There's a 200 day, about 1,130. But really I think we could carry right up above 1,150 up into these previous highs. And that would just kind of keep us in a sort of pretty range band environment. Where there's a fail, that was my note here, is that there was a fail break of this low essentially. Didn't really move anywhere after that break of that low. And so it would kind of make sense if we just push right back up to 1,200 almost in a basically a range trading environment. That's kind of what it's looking like at the moment. So I've not seen any specific questions. So I think we're going to call it a day there. Thank you very much for attending. And good luck with trading this week. Jasper, all the signing out.