09:05am  ~  I am back home this morning after a few days in Spain sorting out some stuff – so it’s emails and some chart watching this morning and some clay-pigeon shooting this afternoon at the farm up the road.  I will report back later if I have any trades.

Looking at the charts a few minutes ago shows up some interesting patterns. My Brent Oil daily chart shows some long shadow candles and overbought indications so there maybe a drop in price coming up this week. More interestingly, the S&P500 daily chart shows a triangle formation developing (see below) so there maybe some range-bound trading for a while before the index shoots off in a more defined direction. With diplomatic efforts starting to pay dividends in Ukraine, we may see a negotiated end to Russia’s bullying, so giving world stock markets a boost in the coming days.  The Gold chart does not give many clue as to the direction its going to head soon though, the only support level that’s obvious is at $1175 which is some way off yet to the downside, but if equity markets rise we may still see a drop to that level as investors switch from the safety of certain commodities back into stocks and shares.

Here’s the S&P500 daily chart showing the triangle pattern mentioned above  (Please click on image to enlarge)

11:15am  ~  I have been watching a few charts on my MT4 platform over the past hour but there’s nothing much to get my teeth into this morning, so I am off on a cycle ride now as it so lovely outside – certainly too nice to be sat inside !

14:20pm  ~  Back from an agreeable lunch and an end to trading for a while as I am now off to the farm for the afternoon.