08:15am    Planning another quiet day at home today so any trades I take will be reported below in my Trading Diary.

Market Update:

Equity markets around the world are in a bullish mood as energy stocks rise on the back of increased Crude Oil prices following the U.S. decision to pull out of the Iran nuclear deal.  Both European and U.S. markets closed positively on Wednesday and the overnight Asian trading session ended on a high note as well after oil prices hit levels that we’ve not seen since 2014. There are concerns that U.S. led sanctions will limit the amount of oil Iran can export which will put a strain on global supplies and this is the main driver behind this week’s sharp rise in Brent Crude and WTI Crude values.  U.S. WTI Crude ended Wednesday’s session at $71.18, up by $1.20 and is now at $71.45 although there is some evidence that profit taking is occuring in the past hour – Brent Crude is currently at the $77.60 resistance level so that may be a driver of sentiment.

The Gold price is holding steady and seems to have found some fairly solid support just above the $1300 level. It closed last night at $1312.50, down $1.90 on the day and there is some evidence this morning that a return to $1303 is on the cards although tensions in the Middle East will support values for the ext few days. I will send over an interesting chart to subscribers soon showing possible future direction for the commodity.

Trading Diary:

09:20am    Just taken a ‘short’ position on my Brent Crude chart  -  more details in a moment.

09:30am    My Brent trade is a Master-The-Reversal UTB Price-Reversal set-up on the 15-min timeframe with a 20 pip stop loss.

10:45am   The Crude price has steadily dropped over the last 30 minutes but has suddenly become fairly volatile so I have closed my position off at +31 pips.

Off for cycle ride now.

16:35pm   Since coming back from my cycle ride I’ve been outside in the sun so no other trades to report.