Binary Options Asset Insights For October 5, 2016
During the day on Wednesday, we get the Services PMI number coming out of the United Kingdom, the ISM Nonmanufacturing PMI numbers coming out of the United States, the ADP Nonfarm Employment numbers coming out of the United States, and of course the Crude Oil Inventory numbers coming out of the US as well.
WTI Crude Oil
During the session on Tuesday, the WTI Crude Oil market pulled back slightly, but bounced enough to show signs of strength again. At this point in time, looks as if the market is trying to break out but we will have to see what the Crude Oil Inventory numbers say. If they are larger than expected, that could encourage put buying as the market might be a little bit overextended at this point. On the other hand, if we can break above the $49 level, and more importantly the $50 level, call buyers should be encouraged.
Gold
Gold markets got absolutely pummeled during the day on Tuesday, as the Richmond Federal Reserve President Jeffery Lacker make comments about how interest rates should be higher in the United States. At this point in time, looks as if the put buyers are in control, but don’t be surprised if we see some type of bounce in the near future. With the $1300 level broken below, it’s likely that we will continue to see bearish pressure at least in the short-term.
FTSE 100
The FTSE 100 skyrocketed during the day on Tuesday, cleanly breaking above the 7000 level looks very bullish at the moment. At this point in time, it’s likely that pullbacks will only offer value the call buyers take advantage of.
Disclosure: None.
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