Trading Diary & Market Update ~ Monday 18th November 2013
11:55am (CET) ~ After a lazy breakfast, we are off to Palma airport in a short while and going back to Altea Hills after a nice relaxing weekend here in Majorca.
The week ahead on the markets are going to be dominated for UK traders with the Fed and Bank Of England releasing minutes, so giving market participants some sentiment for their trading. Over in the U.S. the Dow Jones 30 finished last week at another record high, spurred don by ‘Fed Chairman to be’ Janet Yellen’s comments last week which seemed to suggest she was all in favour of playing it safe with the U.S. economy for the foreseeable future. Gold staged a slight recovery last week after it’s drop in value after it’s steady rise during October although Friday’s trading session was very quiet, no doubt traders are waiting to see what happens this week when the minutes are revealed. The chart looks as though we may see a return downwards towards the $1265 support level. The price trend in most certainly downwards for WTI Crude now, with inventories staying high, putting pressure on any bullish excitement in that market.
23:05pm (CET) ~ We did get back home just after 8 o’clock but then went out almost immediately after accepting an invitation from a neighbour. We were supposed to be back here mid-afternoon but we were at the mercy of a broken down plane at Palma.