Technically driven session for Wednesday-France drops looking for support
The CAC fell during the course of the session on Tuesday, breaking below the bottom of the shooting star from Monday. This of course is a classic sell signal, but we think that there is more than enough support below to think that the market will continue to bounce. We believe that in particular the €5000 level is massively supportive. Any supportive candle between here and there is a call buying opportunity as far as we can see.
Silver markets test $15
The silver markets bounce significantly during the session on Tuesday, testing the $15 level. We believe that the sellers are coming back into the marketplace, so therefore we are looking for short-term resistive or exhaustive candles near the $15 level in order to serve buying short-term puts. We have no interest in buying calls at this moment in time.
USD/JPY struggles above 124
The USD/JPY pair initially tried to rally above the 124 handle during the session on Tuesday, but formed a shooting star yet again. Somewhere near the 124.25 level, there is a significant amount of selling pressure. We believe that a pullback could be coming, but any type of supportive candle between here and 123 could be used as a call buying opportunity as we are simply trying to build up enough momentum to break out in our
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