All around the world during the Monday session, we saw massive selling in various stock markets, as well as commodity markets. With this, any signs of strength in a commodity market has to be looked at with suspicion, and as a result we think there are multiple opportunities out there if you are careful.

Gold markets look vulnerable

Gold markets went back and forth during the course of the session on Monday as one would expect, as gold is influenced by so many different factors. With this, we noticed that above the $1160 level there was significant resistance yet again, and as a result if we can break down below the lows of Monday, we would be put buyers as there is a significant amount of resistance just above.

GBP/USD breaking out

The GBP/USD pair initially fell during the day on Monday, but then turned back around to break above the 1.57 level. With this being the case, the market looks as if we can get above the 1.58 level, it would in fact be a nice call buying opportunity. With this, the market should continue to grind its way much higher, with the first target be in the 1.59 handle. We have no interest in buying puts.

WTI Crude Oil continues to fall

The WTI Crude Oil market continues to fall in general, and as a result we are buyers of puts every time this market rallies on the short-term chart. There simply seems that to be no bottom insight, and therefore we have no interest in buying calls.

The DAX Index tested the 9400.00 during the session on Monday. We might be buyers of put options. Near-term support is at 9400.00, with a break below that on a daily closing basis exposing the support level at 9218.87. In case of a move above the 10020.10, we could be buyers of call options.

The NZD/USD pair is trading below the resistance level at 0.6487. It could be interesting of buying put options. Near-term support is at 0.6353, with a break below that exposing the level at 0.6200. In case of a move above the resistance level at 0.6487, we could be buyers of call options.

The USD/CAD Prices are upward trading above the resistance-turned-support level at 1.3200. We could be buyers of calls for the USD/CAD. Near-term resistance is at 1.3355 with a break above that on a daily closing basis exposing the next level at 1.3422. Otherwise with a move below of the 1.3204, we could be buyers of put options.