07:35am   Early start for me today as I am helping a friend with some building work at his house for a few days. Back trading on Thursday.

Market Update:

Overnight Asian markets were generally bullish with the Shanghai Composite ending the session 3.31% up with the Hang Seng and Nikkei Stock Average also up although not as high as the main Chinese index. This optimism has spilled over to London this morning and the FTSE100 has gapped up at the beginning of today’s European session, currently sitting at 5870 up around 30 points over last night’s close.

With equities on the up at the moment, Gold is suffering and it fell 2.3% yesterday to $1208:40 with further falls overnight and it is currently at $1199:70, just under the significant $1200 level.  The rise in equities is part due to a bullish sentiment in the oil market. There is now a meeting planned between Russia and Saudi Arabia to talk about production levels and traders believe this will result in a cut which will ease pressure on prices. U.S. WTI Crude had a positive day yesterday and ended at $30:16 and this morning it’s up further at $30:88.