07:50am  I had expected to be here at home today doing some admin and chart watching but I have to be in London for an unscheduled meeting at 10am so no trading now until tomorrow.

Market Update:

In Europe yesterday equity markets saw good gains on the back of rising Crude Oil prices following the news that Iran is falling into line with the Doha Agreement which seeks to limit oil production to January 2016 levels.  This announcement also caused a positive reaction in oil markets with U.S. WTI Crude rising just over $2 on the day to finish at $31:30 although it has fallen back slightly during the overnight Asian session. There is an obvious support level at around $30 level and the next few days price-action should confirm this – UK Brent Crude is also up, currently sitting at $34:60 after hitting a high last night of $35:14.

Asian markets were generally bullish during the overnight session with most indices posting gains of just over 2% except the Shanghai Composite which is struggling to stay in the black.  Rising Crude Oil values are the main reason for this optimism together with a fair amount of bargain-hunting as reported by a few brokers.