The two big events in the past 24 hours were a 4.8% slide in the oil price and a surge in European risk assets. The oil price is now back to its lowest point since mid-November with WTI oil sitting at $44.51 a barrel having fallen below $44 overnight and below the level that prevailed before OPEC’s oil production ceiling. In the words of ABBA, it seems US shale oil production is presenting a Waterloo moment for OPEC. Meanwhile European markets have been buoyed by the prospects of centrist Macron winning the second round in the French presidential election on Sunday (May 7). European equities rose 1.2% with the French CAC40 closing 1.4% higher. Betting markets currently ascribe Macron a 91% chance of winning against the Eurosceptic Le Pen while polls put Macron at 61% of the vote.

To mark my 1350th issue of Tradernoble I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on for details.

For anyone following my Platinum Service it made 143 points yesterday and is now ahead by 261 points for May, having made 1276 points in April, 1335 points in March, 1481 in February and 1734 in January. The previous seven months saw gains of 1351, 1971, 1582, 1142, 1782, 1682 and 2550 points respectively. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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