During the session on Wednesday, we get a handful of announcements that market participants will pay attention to, but quite frankly the biggest will be the Crude Oil Inventories announcement. In general, the should be a very technically driven day.
WTI Crude Oil
The WTI Crude Oil market fell slightly during the session on Tuesday, as it looks like the put buyers are coming back into the market. Ultimately, the inventory number will probably move the market more than anything else during the session, but it seems as if the put buyers are in control and that the market looks apt to test the $45 level underneath.
USD/CAD
The US dollar continues to rally against the Canadian dollar, as oil falls, and it now looks as if the call buyers are going to try to drive this market towards the 1.38 level above. Put buying is all but impossible currently, and it now it looks likely that the market participants are very adamant.
FTSE 100
The FTSE 100 rallied during the day on Tuesday, breaking above the 7300 level. It looks as if short-term pullbacks will attract more call line, as the market should then reach towards the 7400-level based upon history. It currently looks as if the put buyers are on their back foot.
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