09:05am  In and out of the house today so not sure how much trading I shall be doing yet – any trades I do have will be posted here as usual. Late Market Update this morning as I was out on an early morning cycle ride.

Market Update:

Looking at my charts early this morning for my daily ‘Trading-Guidance’ service I noticed that the main U.S. indices are losing their recent bullish sentiment and seem to be at the mercy of profit-takers after having one of its best weeks of this year. There are quite a few bearish reversal candles around on various S&P 500 timeframes to the week may not start off well. The overnight Asian session was positive for Chinese equities with both the Hang Seng and Shanghai Composite ending up – no news for the Japanese Nikkei 225 index though as the country is observing their interestingly named ‘Health-Sports’ bank holiday.

Crude oil markets are experiencing some bullish moves as the U.S. rig count drops as drillers continued to remove rigs from the production cycle. Last week there were another nine rigs removed from production and this obviously affects the amount of oil coming out of the ground – U.S. WTI Crude had a positive week and ended last Friday with the largest one-week rise since August.

Trading Diary:

10:50am    Possible UTB setting up on my UK Brent Crude Oil chart.

11:10am   Now in the ‘short’ UTB position – my stop loss is just 16 pips and as I am off out shortly and not sure when I’m back home this will probably be quite a quick trade.

11:20am   The Brent Crude price has just shot down nicely and reversed up slightly to $52.60 so I have closed off my position at +23 pips.  I will send out a chart screenshot to students later this afternoon whenever I’m back.