 Welcome to the CMC Markets webinar with myself, Markets Analyst David Madden. Today is Monday the 18th of September and we're picking off the webinar properly in just one minute's time. As always we'll be going through the risk warnings and the slides here in front of us to keep our compliance department happy. Before we actually go through the webinar itself we'll just run through the risk warnings which I'll leave here on the screen for you to read. It's very straightforward. It essentially says anything that is said in this webinar should not be construed as explicit investment advice. It is just merely commentary and discussing possibilities. What may or may not happen in the very different financial parties that we look at over the next few days. So I'll just leave the risk warnings on the screen in front of you to have a read through in your own time. Everybody shouldn't take that long at all. It's very short and to the point and concise. It just basically says this will keep our compliance department happy once we are through with the risk warnings. We will go through the usual process whereby I talk about what has gone on in the financial markets since the London close on Friday. I'll also take a quick look at the week ahead and then we'll have a look at the major and most popular markets that are popular with our clients. I'll talk about what is going on and what potentially you could see in some of those markets and then as always if there are any markets that haven't covered and you want me to go through it, feel free to just stick that in the chat box and I'll happily have a look at those markets. So now that we've gotten the slides out of the way, we can now focus on the actual webinar ourselves. So first thing we noticed this morning is that equity markets are higher. FTSE and also the continent of Europe are doing all right. They're in positive territory. They had a bit of a sluggish end to last week and Wednesday onwards. Particularly we saw the FTSE had a major sell-off on Friday on account of the very, very strong pound. I remember that the Bank of England added to the previous Hocus-Cometry we've heard from the Bank of England on Thursday and it was kind of cultured, it was by surprise how hawkish it was. We saw a surge in the pound. At conversely we saw a large sell-off in the FTSE in London. But we also saw a fairly weak finish to the continent and the Eurozone equity markets at the back end of last week as well. This week, effectively, we've seen kind of risk attitude pick up. We've seen money go into equities and come out of the kind of classic savings such as gold, for example. Basically, there has been a whole lot of major macroeconomic or political news in the last few days. But essentially what that is is a lack of negative news is seen as a positive. That's what we are looking at here. The situation regarding North Korea, unfortunately, is still ongoing. But it does appear that the traders and investors are getting used to the kind of almost the background noise of the rumblings on a Pyongyang. And seeing as we haven't had a continuation or a ratcheting up in tensions, which we saw there for a number of weeks in a row, traders are now viewing that as a sign to actually take on more risk. And that's precisely why we're seeing every market doing quite well this morning. Conversely, gold has lost about 10 or 15 bucks over the weekend. But it's not a major moving goal, but it's just the classic money flowing out of the typical textbook, safe haven assets and into higher risk assets. Taking a look at what's on the agenda for the next five trading days, taking a look at our bizarre, there's the week ahead, weekly calendar, which is on our website under the news and analysis section. Scroll, if you're under the news and analysis section, that's where you'll find it. And then from there, it's quite easy to find. Click on news analysis, filter by topic, and then the third one down, weekly outlook gives you a breakdown of one of the major economic and also corporate events over the next few days. So taking a quick glance here, what we're looking ahead to tomorrow, what we have tomorrow, the FedEx have numbers out on Wednesday. We have Kingfisher have their numbers out Wednesday, Wednesday evening, London time. We have the update from the FedEx Reserve, not expecting any change in policy from the US Central Bank, but we may hear about when the FedEx Reserve are looking to wind down the size of the balance sheet. There is speculation out there we could be, we could be, we could see the US Central Bank look to start winding down the balance sheet as early as next month, but in relation to rates, we're not expecting any change tomorrow and the markets aren't still pricing in, aren't overly concerned about a rate hike from the Federal Reserve in December. So any kind of, any language that we may hear from the Fed could give us a clue in relation to interest rates more importantly, but also that the traders are sort of expecting to hear about the tapering or the winding down of the Fed's balance sheet. We have an update also from the back of Japan over the night and Thursday, that's obviously going to be very important for anyone trading the Nikkei or for anyone trading the dollar a yen. And also we have a number of PMIs out from Germany and France and the Eurozone at the back end of the week. So scrolling down through the corporate calendar, what we can see here is tomorrow we have Fed back and beyond, Fedex as I mentioned, King Fisher as I mentioned as well, half your numbers out in the UK on Thursday, Capita Group on Thursday and Keir Group, Capita, our first half numbers, Keir Group, our full year numbers out on Thursday. Taking a look at Friday, Smith's Group have their full year numbers out. So the corporate front, it's a few bits and pieces, but it's obviously, it's recently quiet on the corporate economic front. Obviously the big one of the week is going to be the Fed and Reserve and if you're interested in trading out to the end crosses of the Nikkei, you'll also want to keep your eyes peeled for the Bank of Japan update overnight. Turning around, also we do have an update from Mr. Draghi on Thursday as well. So any kind of clue to when potentially the European Centre Bank may look to alter their or potentially trim their bond buying scheme, that could also be, that would be of a significant importance, seeing as we have seen a bit of a softening of the euro, particularly against the British Pound in the last couple of days. Taking a look at the FTSE 100, basically we had a major sell-off, quite severe sell-off on Friday and we have a balance back from that, but why we are well below the 200-day moving average on the FTSE 100, and why we remain below that key barometer is likely that that outlook for the market is going to be negative. So taking a look here, what we can see here, this was Friday's move, quite a severe sell-off. What it did tell us on Friday was that this level in around 7,300 down to 7,288 has finally been broken to the downside. After many months of being a quite a decent key support level, it's finally broken to that level, quite substantially. It traded down as low as 7,195. We have pulled back some of the ground today. Notice how negative momentum is actually still on the rise, even though it's a positive day today, but we are well below the 200-day moving average at 7,314, and while we remain south of 7,314, it's possible we could see the negative outlook remain in place for the FTSE 100. Should we break north of 7,314, we could potentially see the market target just in around the 7,400 level, where the 50-day moving average comes into play. That potentially could be the next level to watch out for should we retake the 200-day moving average. As I mentioned, while we remain south of that metric, it's potentially going to be bearish. So, downside targets, we could be looking to Friday support at 7,195, and then below that, the next big level to watch out for could be the April low of 7,188. Turning our attention now to the DAX. The DAX pushed down a bit higher today, and especially we are seeing a kind of gradual, kind of a creep higher continuation of the kind of positive move that we witnessed once it kind of broke out of the downward trend here. Looking at the price, the most important indicator, it is encouraging to see the DAX going down to create a new multi-month high today, and potentially the next level to watch out for to the upside will be the July high of 12,768, and should we take out of that level, the next level to watch out for would be the 12,848 region, which is one of the spikes higher from June. It is just worth pointing out, prices was an important indicator to keep an eye on, so whatever the price is doing, that's what the traders should be looking at. Even though we are kind of edging higher here, the positive momentum is ever so slightly dipping, so just be mindful of that. Any moves lower in the DAX may find support at 12,500, this price area here, south of that 100-day moving average, which acted as resistance on the way up, may act as support on the way down, which is 12,465, and then south of that, the low here created this day last week, 12,333. These are areas we could see, potentially acting as support, should we see it move lower in the Germany 30 in the DAX. The US markets are different kind of fish, they've just been powering ahead, and the trend is your friend, the old adage is that the trend is your friend until it comes to an end, and the trend is very much to the upside on the Dow Jones. As you can see here, the futures are pointing, even though the official cash trading in New York has won't start for about two hours time, the futures market are pointing to yet another record high for the Dow Jones. Let's see how things pan out once the actual cash market gets underway, but the overall trend is very much to the upside in the Dow Jones, in terms of kind of psychological levels, psychological numbers to watch out for as tension upside targets, 22,400, 22,500 and beyond. Waiting, you know, buying the pullback has been a popular strategy by some traders for the Dow Jones in recent weeks. So if we do see it move lower in the Dow Jones, we could potentially find support in around the 22,200 region or a bit lower that that again, 22,180 and then back down towards 22,100. This is what you want to see while the price is pushing higher, you can see a very clear and concise push higher in positive momentum. So it can be more confident that the that the upper move is going to last. It's what you want those to confirm each other. If the markets moving higher and positive momentum is moving higher, that's a sign that the buying momentum is increasing. When those two diverge, when prices push higher, but the positive momentum is declining, that's a suggestion that the positive move may come to an end. It's a similar picture on the S&P 500, not quite as strong as the as broadly speaking, it's very similar but not quite as strong as the big board itself, the Dow Jones. But by and large, it's a fairly similar view. Once again, the futures market are pointing to a fresh high once the cash market gets underway. That's what we're looking at now. We're still two hours out from the open. But once again, markets point to a new record or record high. Same situation. Next level potentially watch out for the upside, 2,510, 2,530, the big psychological numbers that traders often look for, especially when you're looking at unchartered territory as there were fresh record highs. Moves lower in the S&P 500, 25 support, 2,491, and then south of that, 2,480. As I mentioned with the Dow Jones, it's also been a popular strategy by some traders to buy the dips for these US indices seeing as they're going on to create all time highs. It's also encouraging to see how positive momentum is very much still holding up. So the buying momentum is strong, so you can be more confident that the upward move is going to last. Conversely, we've seen a sell-off in gold, the positive run of global equities in Europe and in the US, as led to an opposite move in the gold market, gold and silver have come under a bit of pressure, classic flight equality, safe haven plays. So since gold created a record high, not much that I've got, so it's Friday, the 8th of September, so it's only 10 days ago, created a 13-month high here. We have been in decline since. Notice how we see the price moving lower and we see positive momentum fading and then momentum actually swells to negative territory and positive momentum is actually increasing. We're not seeing any signs of this downward move coming to an end. What we may well see is we may well see a further decline before we potentially have fit into the, resume the wider big picture trend. So we could be looking to push down towards 13.05, 13.00, big psychological number, and then 12.96. 12.96 is significant because it was the top end of the range that that gold was in, acted as resistance in June and also in April. It was sort of the top end of the range while the commodity was kind of range bound for a number of months in the first or second quarter of this year. So we could potentially see, we've already come back about 40 bucks from the September high. We could potentially drop down towards 13.05, 13.00, or maybe even 12.96 before we may or may not see a resumption of the wider upward trend. Bearing in mind that gold has been in a broadly speaking, a positive move, well, since about December last year, but particularly, particularly more aggressive positive move since the, since the lows in July. So we can easily potentially see a push higher in the kind of, in the kind of medium term. I should not be the case, both would then be looking towards the resistance here at 13.34, and then north of that, looking to the September high of 13.58, and then beyond that, 13.75, which was a high of last year, and then if should we take out 13.75, the big psychological $1,400 would then be the next one on the radar. Silver, similar looking chart, whereby it's a very positive move, upward trend since July. We have seen a bit of a pullback in recent weeks, similar situation here. It was Friday the 8th of September. It would have to create a multi-month high, a level not seen since April this year, but we have seen a bit of a pullback since then. As you can see here, the positive momentum started to dwindle, and then it actually turned around into negative momentum. A similar occult, we haven't seen any signs that this could have seen a negative momentum is rising. We could potentially see a further decline in the silver market before we may see a resumption of the wider upward trend. In terms of the silver market, we could be targeting, in the shorter term, we could be targeting back towards this level here at 17.50, south of that 17.24, and then below that, the two-day moving average at 17.11. These are areas of potential support for silver. We may see a continuation of the negative move, but given that the wider trend has been to the upside, the medium to longer term silver is still to the upside. So, should we push higher in the silver market, levels to watch out for to the upside will be 18.00, and then since the September high of 18.21, and then beyond that, April high of 18.65. Turning our attention now, stick with the commodity scene, and turning our attention now over to the oil market. Also had quite a decent run recently. Brent High just stuck only last week, back in the last week, creating fresh multi-month highs, levels not seen since April this year, and Brent, the last today has been a very, very low volatility day. I haven't seen much movement, but seeing as we created a multi-month high only a few trending days ago, the outlook is still positive for Brent. As you can see here, positive momentum is still very much the name of the game. So, we haven't seen signs of the buying momentum weaken. We just haven't really seen any addition progress in the increase in the price. So, an issue of an upside target for Brent is going to be the April high of $56.53, and then beyond that, we've been looking towards a kind of psychological $57 a barrel. In recent weeks, buying the pullback is going to pop our strategy by some dealers. So, if you do see any kind of moves lower in the price of Brent, we could find support in around here, in this level here, at $55, and in south of that, we be looking potentially towards $54, and then $53.83. It's been a similar chart for WTI at West Texas Intermediate, but it just hasn't been as overtly bullish that we witnessed on the Brent chart. A similar situation, on Thursday, we created a fresh multi-month high, and we've kind of hung around that level since. Another thing, the WTI market has been a bit range bound. It can't really make any decent headway beyond $50.27 here, and it's sort of been propped up by the two-day moving average, which comes into play at $49.42. So, the bias is still to the upside. As you can see here, positive event, and there's still very much in place. So, levels of watch out for the upside will be $51, and then, should we take out $51, the next level to potentially watch out for, will be the May high of $51.66, and then, if that level is exceeded, the April high would have been the one for both focus at $53.56. Moves lower, May find support from the two-day moving average, which has, as I just mentioned, at $49.40. So after that, back towards the big figure, $49 itself, and then, down towards $48. These are all levels you potentially see as a finding support, should you see any moves lower in the price of WTI. Euro-dollar is still strong, but you just haven't seen any additional gains in the currency pair. It really just hasn't found it difficult to kind of get beyond, to retake the kind of slightly big psychological number of $120. So, the chart is telling us very much to the upside, but it is a bit concerning though that momentum is still in negative territory. So, you see the differences between the two, it could be an indication that, it could be an indication that the kind of whatever positive moves that we do have may not last because, you know, because there isn't much buying momentum around. To the upside, obviously, looking at WTI, obviously, $120 is a big psychologically important number to keep an eye on, and then north of that, September high at $120.92, and then beyond that, we've been looking towards $122, should that be the case. As I mentioned, Mario Draghi, the president of the European Centre Bank, is speaking this week on Thursday. That's obviously, if you're training in the euro process or in the eurozone indices, you need to be all over that, keeping an eye out for what Mr. Draghi has to say. There's been some, the resurgence in the pound and also, the resurgence in the pound has seen a bit of money flow out of the euro, broadly speaking, a commodity to euro starting in the second. But shouldn't we see any push, any moves lower in the euro? First, the green back, we could find support in around this area here, at $1.1916, and then south of that, at $1.1837. And then below that, should we move south of those potential support regions? We could be looking to find support at the effectively moving average at $1.1782. The euro starting, I've seen quite the reversal. Well, it's pushing higher today, but it saw quite a large sell-off last week. So take a look now at the euro starting chart here. It's not too similar to the first thing that we saw, a major sell-off on Friday and a bounce around today. And notice how, as the market was selling off and selling off, and then the rate at which a sell-off really started to ramp up, we could see here about how momentum swung from being ever so slight in the positive side, early and positive, and then all of a sudden a steady increase in negative momentum. So we haven't really seen any signs that the kind of market, that kind of momentum, the negative momentum without the setting of pressure is coming to an end. Granted, we have seen a bounce back today, but after several negative days in a row especially the rate at which the ground at last, it is hardly surprising that we witnessed a bounce back in the euro starting. So if you continue the kind of wider negative move in the euro versus the starting, let us watch out for the downside. We could see some support in at 87.38 and then south of that at the two-day moving average at 87.06. Moves higher euro starting, may encounter resistance here at this level at 89.08 and then beyond that, the 50-day moving average at 90.36 may also potentially act as resistance to any kind of upward moves in the euro versus the per inch pound. Take a look here at the dollar yen. We have seen pushing higher in the U.F. dollar versus the Japanese yen. As I mentioned, we do have a bank of Japan update on the early hours of Thursday mornings. So if you are training the dollar yen, please be aware of the update from the central bank of Japan. As we can see after quite a severe sell-off from July all the way to early September, we have been pushing higher in the dollar versus Japanese yen. Notice how it's taken out a couple of the previous highs, which could suggest that we could see a negating of the downward trend that has been in. This is a kind of classic downward trend, creating lower highs, lower lows, lower highs until we see a bit of a turnaround here. Taking out the high here from late August and then also then mid-August and even early August could point to suggesting that we could see a further move higher in the dollar versus the yen. And also notice how while the price of the dollar yen is pushing higher here, we saw it was matched and as limit by the swing around in positive momentum and it's on the rise. So the buying pressure that we're seeing for the dollar versus the yen, for the time being, hasn't really shown us any signs of it running out. So let us watch out for to the upside would be the 230 moving average at 12, spot 26, and then if we go beyond that the next level to watch out for would be the 113 reaching for the dollar versus the yen. But since we have a lot of ground in the last few months, if we get a wider downward trend since July does resume, levels to watch out for for the downside on the dollar yen could be this level here at 110.67 and then south of that we're looking back towards this the shy of 109 around this price here at 109.24 and then back down towards the 108 and 107.32 region. That's if this wider trend continues but we've taken out a few highs and the and the momentum is still very much in positive side. So I suspect we could see more ground being gained from the dollar versus the Japanese yen. Taking a look now at the one last kind of quick glance we've one minute left on the actual on the actual webinar itself. So if you have no questions are we wrapping the the webinar up in just one moment's time. Take a look at the Australian dollar versus the US dollar. Big picture is telling us since May it's been very strong that a powerful kind of upward trend after spiking in early September it has felt difficult to kind of retake those highs but we are seeing a bit of a bit of an attempt to retest those levels. The momentum indicator really isn't telling us anything. It's kind of reflective of the price. Not really moving in a clear and concise direction. But I suspect why we remain north of this level here. This support level here at 0.79.42. I suspect that the overall positive sentiment is going to remain in place. So any kind of moves higher in the Australian dollar may encounter resistance at 80.65 and then north of that we be looking towards September high which comes into play at 81.25. Should it move south of this area here we may find support from the fifth day moving average at 0.79.330 and then below that we're looking back towards 0.78.73. So in terms of the markets recovered we've covered the major markets. I'll just quickly remind you about future webinars that we have on. In terms of webinars on the page where you found this under the Learn section webinars and events on the same page where you found this. We have webinars tonight at 7 p.m. London time 1900 hours for the summertime. It is the trader development program part 3. That is tonight at 7 p.m. London time on Monday the 18th of September. 7 p.m. London time 1900 per the summertime. And looking ahead to Wednesday we have a webinar at 19.30 per the summertime. So half 7 p.m. London time. The webinar is covering combining technical analysis with digital 100s. And that is on Wednesday the 20th of September at 19.30 per the summertime. 7.30 p.m. London time. So feel free and then obviously next Monday I'll be back here live at 12.15 for the weekly for the Monday weekly webinar. As I mentioned before in terms of news analysis some of the articles that we get that we write on the news analysis throughout the day myself and the analysts around the world get posted to this section here. So regardless of what time is on your end it's all you're going to you're going to be seeing analysts regarding analysts update from around the world being posted here. Some of our analysis get posted to the news analysis section of the website. All the portions of it actually go directly onto the training platform itself under Insight. And Insight can be found by clicking on the market pulse. And the second option down is the market insight. So some of the analysis gets posted on the website some gets posted on Insight which is within the training platform. What we also do here as well is we also do we also have a chart forum. So we put up a picture option of a chart and we write a few of the characters about what we think the chart could potentially do. And the chart forum can also be found under market pulse. So that's the third option down on market pulse. And then lastly I'll show you the economic calendar or fourth option down on market pulse. It gives you a breakdown of the major economic events that are on the calendar for the next few trading days. And also show you what the forecast is and what the previous month's reading was. So as I mentioned we do have some important economic data coming out this week. And obviously if you're trading the financial markets it is a good idea to keep out keep an eye on for what economic news is coming out. I do want to thank you for your time. I appreciate you tuning in and listening. Please sign up for future webinars. And I hope you have a good trading week. Thank you very much.