08:05am   Back here after a short break due to strange virus that hit me on Tuesday afternoon. No trading today though, I will be back in front of my charts on Monday.

Market Update:

Since I’ve been away from my charts, there’s been quite a bit of movement/volatility in equity markets. The overnight Asian market has not really provided much optimism with the Japanese Nikkei 225 index has fallen over 4% to under the 15,000 level although the European session open is slightly more positive today.  Bloomberg News this morning has announced that global equity markets have now officially entered a bear market after falls since November 2015 – the U.S. S&P500 index weekly chart has fallen down to its 200-day moving average although at the moment it is using this MA as support.

The Crude Oil market has seen further falls throughout this week with U.S. WTI Crude falling to a new multi-year low of $26:03 although there has been a small bounce up this morning, it is currently sitting at $27:08.  Gold is obviously still taking advantage of trader’s concerns for a decent return and moves this week have seen a high of $1263:10 which is the best level since this time last year although small flurries of profit taking is showing up and the price has dropped to $1238:50 at the moment.