07:55am    Another relaxing morning here at home so any trades I have will be reported here – out at a Clay Pigeon shoot this afternoon in Norfolk.

Market Update:

The correlation between equity values and oil prices was prevalent once again yesterday with U.S. markets ending down as Crude Oil once again suffered falls with U.S. WTI Crude falling below the $30 level once again. Overnight the Japanese Nikkei 225 index ended over 3% down and the Australian ASX 200 fell just over 2.2% although Chinese equities faired slightly better – the Shanghai Composite closed down just 9 pips (-0.35%)

This negative sentiment would have pulled down the European trading session this morning but French, German and UK markets have opened largely positively together with S&P and Dow futures. Crude oil prices have also started to rise as bargain hunters moved in earlier this morning, the benchmark U.S. WTI is now averaging $30 per barrel over the past hour’s trading with UK Brent Crude even higher at $32:80 currently.

Gold is still benefiting from the volatility in equity markets, it hit a high of $1130 yesterday before hitting its 200 day moving average and falling slightly on profit taking   — it is currently sitting at $1125.66.

Trading Diary:

09:45am    There is a possible UTB trade setting up on my Brent Crude chart. Not much else to see on my collection of favourite charts currently.

10:50am   After quite a wait, the above mentioned opportunity has finally triggered and I am now in a ‘short’ position with an 18 pip stop loss.

11:55am   The Brent Crude price has reversed so my position has been stopped out at -18 pips.

Back in front of the charts tomorrow.