During the day that has several announcements, we could get a bit of volatility, but mainly in the United States, due to the fact that most of the announcements come from there.
Silver
Silver markets went back and forth during the day on Wednesday, as the $18 level offers quite a bit of resistance. If we can break above that level, call buyers could be encouraged to continue to push the market towards the $18.50 level. There seems to be a significant amount of support below at the $17.50 level, keeping losses at a minimum.
Nikkei 225
The Nikkei 225 did almost nothing during the day on Wednesday, showing signs of being comfortable at these high levels. The fact that we formed a hammer during the Tuesday session suggests that perhaps call buyers will continue to push. If we can break above the ¥19,700 level, this market could really start to take off. Pullbacks should continue to attract call buying based upon value, if history is to believed.
CAC
The Parisian index trying to break out during the day on Wednesday, but struggles above the €4900 level. If we can break above the top of the range for the day on Wednesday, it’s likely that call buyers will be especially interested. However, the currently looks as if the market may pull back. If they pull back, it’s likely that the call buyers will be interested due to the possibility of value.
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