07:50am   The plan was to be doing some trading this week but my house move is now turning out to be more complicated than initially thought so I am having the whole week away from my charts unfortunately although I will still be sending out my early morning Trading Guidance emails and Trade-Alerts to subscribers.

Market Update: 

There seems to be some reaction to Trump’s various policies in equity markets with U.S. stocks ending slightly down on Friday although they did post an overall 1% rise on the week and the Dow Jones Industrial Average is still comfortably above the significant 20,000 level. This slightly bearish sentiment has also affected this morning’s Asian session where stocks closed largely down as investors and traders show concern over the new President’s immigration policy which is also affecting the value of the Dollar.  This morning’s European session is just getting underway and there does not seem to be much optimism yet, most bourses are also in negative territory.

Oil is starting to look fairly negative with WTI Crude down by 58 cents on Friday over concerns that growing U.S. production is going affect long term values even though there a proposed cut in production by OPEC members.  My daily chart is however showing a small possibility that the price could go back upto the $54 level before retreating back down again.

Gold has fallen for four sessions in a row now and has come down from a high last week at the $1220 resistance area to its current level of $1189.52 this morning but should rise slightly as concerns over Trump’s various policies take hold. my Daily chart is looking very oversold at the moment so could rise in the next few days using $1180 as support.