Although a few announcements came out during the day Friday, quite frankly, the only thing that mattered was that the United Kingdom has left the European Union. With this being the case we look at the following three assets:
EUR/USD
The EUR/USD pair fell apart during the day, but did really gain quite a bit of its losses. This is perhaps a sign that the market will somewhat stabilize. However, is still likely that the buyers will be encouraged on signs of exhaustion from short-term charts. Currently, it’s very difficult to buy calls in a market that has seen such volatility.
WTI Crude Oil
The WTI Crude Oil market fell during the course of the session on Friday, but as you can see there is quite a bit of support just below. By doing so, we bounced enough to form a little bit of supportive action and as a result it looks as if the $50 level is still going to be a massive resistance barrier. At this point, short-term exhaustion will more than likely bring in buyers.
Silver
Silver markets took off to the upside during the day on Friday as we got news of the United Kingdom from voting to leave the European Union. With this, the market broke through quite a bit of resistance, including the $18 level. If we can break above the top of the candle for the day, more than likely call buyers will be very interested in going into this market. Supportive candles should also cause quite a bit of bullish pressure, and with that looks like silver or later call buyers will be interested in this market which has seen so much in the way of volatility on Friday.
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