During the day on Monday, the US presidential election will of course take headlines as Americans vote on Tuesday, so there could be quite a bit of silence when it comes to markets in North America. However, we give the German Factory Orders number, and the European Retail Sales number. With that being the case, we will look at the following 3 assets:

WTI Crude Oil

The WTI Crude Oil market fell significantly during the day on Friday, and it looks as if the put buyers are going to continue to push. However, if we get some type of rally it’s likely that the buyers will simply wait to see whether we get exhaustion above to get involved. There is a significant amount of support just below, but having said that it’s obvious that the downtrend has certainly picked up quite a bit of momentum.

Gold

Gold markets initially fell on Friday but then turned around to form a bit of a hammer right at the $1300 level. If we can break above the top of the candle from the Wednesday, Thursday, and Friday sessions, at that point you would have to think that the call buyers would get involved yet again and push towards the $1340 level. Pullbacks should continue to see quite a bit of support.

CAC

The Parisian index fell during the day on Friday, as we continue to test support just below. With the European Retail Sales number coming out today, we could get a bit of a move. At this point, it seems to be that the €4300 level below should offer quite a bit of support. With that being the case, a bounce could be coming but at this point in time we don’t see any momentum in that direction. A break down below the 4300 level would be very negative.