08:45am CET (07:45 UK time)    No trading again for me today, I have some errands to run this morning and then travelling back to the UK late this afternoon.

Market Update:

After a bullish finish to the U.S. session last night where equities had their biggest rise for seven weeks, the Asian session also ended up with the Australian ASX-200 rising over 2% to break the 5000 level and establish a short-term support level at 4830. The Japanese Nikkei-225 was also heading up for most of the session and finished over 4% up to finish at 16,746 (+661 points) and Chinese indices posted good results even though the rating agency Moody’s have cut the country’s credit rating on growth and debt concerns.

In the Crude Oil market there are the weekly U.S. stock levels being announced this afternoon and expectations are for a build of around 2.5 million barrels, down on last weeks numbers by about a million. WTI Crude seems to have hit a resistance level at $34:50 which stretches back around 4 weeks so  we could see a resumption of the down trend soon.

Gold has been enjoying a bullish run as equities suffered for the first two months of 2016 but there are signs on the daily chart that some profit taking is emerging, there are a few bearish reversal candles lately and a short-term resistance at $1250 which could strengthen this week – keep an eye on that level for trading opportunities.