With only a couple of announcements coming out on Monday, the trading session will be fairly quiet, but there should be some trading opportunities. Keep in mind that we are just a week away from Christmas now, and that of course will drain some the liquidity from the marketplace. With this, shorter-term moves are probably what we can expect.
Gold
Gold markets had a slight bounce on Friday, but quite frankly we are still very bearish when it comes to the gold markets right now, and as a result sooner or later the put buyers should get interested as this market looks set to reach towards the $1100 level.
CAC
The French index looks like it’s ready to pull back a little bit but there should be plenty of support near the 4750 level. Because of this, a little bit of patience may present a call buying opportunity at lower levels. We have certainly broken out, and most certainly the trend is bullish, so this is a market that may be worth watching.
USD/CAD
It looks as if the USD/CAD pair has cleanly broken above the 1.33 handle, which coincided with a previous uptrend line that had been violated. In other words, it looks like the buyers of calls have come back into the market rather stringently, and we could continue to see bullish pressure.
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