During the course of the session on Thursday, it’s very likely that the unemployment numbers coming out of America could move the market, although they are just simply the claims number, and gives us an idea as to how far we are moving in one direction or the other. On top of that, we have the industrial production numbers coming out of China. With this in mind, we look at the following 3 markets:
WTI Crude Oil
The WTI Crude Oil market rose during the course of the session initially on Wednesday, but turned around form a bit of a shooting star. That being the case, it’s likely that we will continue to go lower, perhaps reaching down to the $40 level. Because of this, put buyers very well could be interested in getting into this market given enough time.
USD/CAD
Obviously, the Canadian dollar tends to move with the oil markets, and therefore we will be watching this particular currency pair as well. Because of this, the market looks as if we are paying attention to support below, and of course the trend line. That being the case, it looks as if the call buyers are going to eventually enter this market again. It also appears of the 1.30 level is an area where there willing to do it.
FTSE 100
The FTSE 100 rally during the course of the session during the day on Wednesday, as they continue to go much higher. It looks as if the market pulling back will be thought of as value by call buyers, and as a result it should continue to go much higher as dictated by history. The 7000 level above should be the longer-term target, and having said that it’s very likely that the markets will be attracted to that round number.
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