Hello and welcome to CantosCharts. My name is James Hughes from online trading firm Alpari UK. Today we're going to look some of the major indices which have been moving around, most notably the FTSE100.

Now, of course, over the course of August we have seen unbelievable market volatility. We've seen the big stories coming out of the US, the eurozone and the UK as well with their economic problems and this has caused huge swings within the market and those huge swings do give traders those good opportunities to trade, they give you those points on the upside and those points on the downside. And if you can get them right, you can get in and profit from those big swings within the market.

Now, of course, with the uncertainty, with the huge volatility that has been going on, you are going to get those swings in the markets and you can see on the chart here - and we've labelled the two support and resistance line - we've got the 1st August coming back here and then, as you can see, the huge fall that we saw. But ever since then, ever since we really bottomed out around the 8th, 9th August or so, we have been within a range.

Now when we say range we tend to think of quite a small range. We tend to think of 20, 30 points. This is a lot more than that, of course. This is around 300, 400 points worth of range. That's how volatile these major indices have been throughout the course of August.

Now, on the upside, we've got 5,377. That's been the key level on the upside which has really been stopping any rallies from coming along.

But when you look at where we were a few months ago testing 6,000, everyone was saying 6,100 was going to be the big level on the upside that the markets we're looking out for. Of course, that volatility has come in, that uncertainty has come in, we've seen panic and irrational market moves within the markets and we're down here 5,370-odd.

On the downside it's hard to think of us going below 5,000, but 5,920, 5,915 that is the key downside support level. That's where we've seen the market bounce off a few times. Earlier throughout August around the 10th, 11th August we got some key tests of that level boosting back up. But not only boosting back up, this is when we saw those big sort of 400 point swings to the upside. So the market came up, tested that upside level 5,370-odd, 5,380 and then back down all the way back down to this 5,915, 5,920 level.

So they're going to be the key points and that's where we're trading at the moment smack bang in the middle of these. So it's going to be interesting to see over the next few days or so, or few weeks, if the volatility, number one, if it calms down. Now not a lot of people expecting that volatility to calm down that much. Of course, we've got unbelievable trading volumes for this sort of time of year, so we could be getting to see this continue and of course, with no resolution to the problems which are going on in the US and in the eurozone especially, it could be that that uncertainty breeds this fear within the markets and we get that volatility again.

We've got Jackson Hole this week, the Federal Reserve, so we could hear something positive out of the US later this week, but until then, it's going to be a matter of bouncing around between these ranges and that's going to be the key point that we're going to have look out for going forward, especially on the FTSE, but all of these major indices.

My name is James Hughes from Alpari UK. Thanks for watching.