07:50am   Earlier start for me today as I am off to London later this afternoon but if I have any trades this morning, they will be detailed below.

Market Update:

The main market moving news from yesterday involved  U.S. President Donald Trump signing an executive order to reverse previous President Obama’s clean air policies which is designed (he says) to boost domestic energy production and initially this has caused a jump in related stocks. Energy and mining company shares rose as well as financials which caused the the main S&P index of the leading 500 companies in the U.S. to rise 0.73% by the close last night.

As expected, the rush of cash to equities has affected the Gold price and it is now well off its high of $1262 that it hit once again on Monday – currently trading at $1249.88 this morning.  Asian markets were not as bullish as U.S. ones and the overnight session there ended just very slightly up with the Shanghai Composite bucking this trend and closing down by 11 points at 3241.31.

Crude oil values are in focus today as we have the weekly inventory numbers out of Cushing, Wyoming and the expectation is for a small rise of just over 1 million barrels. Initial trades this morning is suggesting that this number could come in lower as U.S. WTI Crude values are up 25 cents on last night’s close, currently trading at $48.70 and fast approaching its 200-day moving average.

Trading Diary:

09:50am   Just entered a ‘long’ position on my Gold 15-min chart, it’s a Master-The-Trend Strategy-B set-up and my stop loss is 19 pips.

10:50am    The Gold price has come up against the same small resistance for the third time in the past hour so I have closed my position off as I am happy with the small profit (+20 pips)

11:10am    Quick cycle ride so no trades to be reported for a while.

12:45pm    Back from my cycle and just had a quick look at my group of favourite charts and there’s nothing to see at the moment so I am off to lunch.

14:05pm   Charts off now and finished trading for the day. Back here tomorrow for my last day of trading this month.