Video Length: 00:01:57
With almost nothing to move the markets via economic announcements, we have to look at charts for the session:
- We look at the EUR/USD with a lot of suspicion, as we are testing the 1.10 handle but recognize that we are in such a massive downtrend that it is almost impossible to imagine this market going much higher without running into sellers. We would look to buy puts on signs of resistance, and we do believe that we should see them some time soon. With this, we are simply waiting for some type of selling to occur in order to start buying puts yet again as this market should continue the overall downtrend.
- Silver markets stalled at the $17 level during the session on Tuesday, and therefore we feel that is short pullback might happen. However, we look at this is a call buying opportunity as we believe that the silver markets will then head to the $17.50 level. We think that the silver markets should offer plenty of call buying opportunities in the short-term based upon short-term charts.
- Looking at the DAX, we did find a bit of support at the 11,800 level, so we believe that the market will more than likely try to continue going higher, and short-term charts could be used as call buying opportunities. Even if we break down below the aforementioned 11,800 level, we think that there is plenty of support below and we would be looking for daily candles that show signs of support in order to start going long via calls yet again. We have no interest in buying puts against the DAX.
Comments
Log in or sign up to join the conversation.