During the session on Monday, we get a handful of very minor announcements, so therefore it’s likely that we follow technical analysis. Because of this, we are watching the following three assets:
Silver
Silver markets fell a little bit during the session on Friday, but found support at the $17.50 level to turn around and form a nice-looking hammer. A break above the top of that hammer sends this market much higher, reaching for the $18.50 level as it is the next major resistance barrier. Currently, looks like the call buyers are in control.
DAX
The German index initially rallied during the Friday session, but turned around as we continue to struggle above the €11,650 level. This is a market that looks like we are starting to see put buyers jump back into participate, but it’s likely that call buyers will continue to be attracted, so signs of support and a break above the top of the shooting star both could be the trigger.
USD/JPY
The US dollar took off against the Japanese yen again on Friday, and it looks as if the call buyers are firmly in control once again. The market should offer value for call buyers on pullbacks, and it looks likely that the longer-term uptrend has continued.
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