We continue to see quite a bit of volatility due to the United Kingdom leaving the European Union, and of course all of the uncertainty that the situation brings overall. We are getting a lot of mixed messages from various political leaders, and at this point in time nothing truly has been settled. Because of this, expect a lot of volatility in the British pound, and of course financial markets in general. With this in mind, we take a look at the following 3 assets:
EUR/USD
While it would be very easy to focus on the British pound, there is another loser in this fight, the Euro. After all, they just lost the second largest member of the trading union, so at this point in time there is going to be a lot of concern as to whether or not other members leave. It looks as if call buyers got a little bit aggressive during the day on Tuesday, but it appears of the 1.11 level looks attractive enough for put buyers to enter again.
Silver
Silver markets of been a bit volatile lately, but what we found interesting is that the pullback during the session on Tuesday did in fact find quite a bit of support near the $17.50 level. Because of this, it appears that call buyers could be very interested in this area, and of course the $18 level above is a barrier to be concerned with. At this moment though, it looks like there is still plenty of momentum to the upside just underneath.
WTI Crude Oil
The WTI Are Well market bounced slightly during the day on Tuesday, using the $46 level as support. It looks as if this area is very strong, and the inventory number of course could have a great effect on this market today. At this point in time, looks as if call buyers have returned and are making a stand near the $46 handle, trying to perhaps reach the $50 level again.
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