07:55am   There’s been a change of plans so no trading for me today as I am still in London unexpectedly but could be back home tonight so maybe in front of my charts tomorrow.

Market Update:

There was no great market moving news yesterday so equities experienced a mixed session with U.S. indices undecided on direction (Dow Jones-30  -0.20% and S&P-500 +0.11%) although European bourses were fairly upbeat on the day the the UK officially started their divorce from the European Union.  A planned merger between the London Stock Exchange and Deutsche Boerse was blocked on monopoly concerns and as a result both companies share’s jumped over 2% by the close.

The overnight Asian session was mainly in the red except for the Australian ASX-200 which was buoyed by optimism in the commodities and energy sector.  Oil values jumped yesterday after a lower than expected stock build in the U.S. and there are now also concerns over supply issues in Libya which will slow distribution onto the world markets. U.S. WTI Crude ended the day up by 19 cents to $49:70 and this morning it is slightly down at $49:30.

Gold is in a small consolidation period and travelling in a narrowing channel between $1245 and $1258 although I can see a possible price break out soon as the triangle pattern comes to a close (email me for more details)