08:50am   A day away from the screens today but I will be back here on Monday for a new week of trading.

Market Update:

European markets closed mixed yesterday with the French CAC-40 closing up by 0.5% but German and UK equity finished the day down on lower global volumes and lacklustre company news.  Volumes were down mainly due to the U.S. Thanksgiving holiday and this may well continue to day as many Americans will be taking an extra days holiday today.  The overnight Asian trading session ended mixed with Chinese stocks steadying after a near 3% drop during the previous session, the Shanghai Composite has fallen 1.14% over the course of the last week and many traders are reporting a looming bear trend will emerge as the price has now fallen through a strong support line that was first established in May.

Crude oil continues to rise as the closure of the U.S./Canadian Keystone pipeline has put pressure on stocks, the U.S. benchmark WTI Crude rose 47 cents during yesterday’s session to close last night at $58:51 and traders are also watching OPEC for signs that their production restriction for the rest of 2018 i going to materialise.

Gold is struggling to move higher at the moment and looks to be reversing at a well established trend line (email me for a chart) and any move higher is going to be dependent on equity markets falling as we approach the end of the month. It closed at $1290.09 last night, down $1.71 and trading at a broadly similiar level this morning although the daily chart is suggesting further moves down.