With the Industrial Production numbers coming out of the European Union, and the FOMC Meeting Minutes coming out of the United States, it’s likely that we will have trading opportunities today in several different markets. We are watching the following 3:

DAX

The DAX looks as if it is trying to break out to the upside, but there is a significant amount of resistance just above. Because of this, call buyers look likely to attempt again and again to finally break above the resistance. The Industrial Production numbers coming out of the EU could be a catalyst to go higher. Pullbacks will more than likely try call buyers as well.

Silver

Silver markets did very little during the day on Tuesday, as we continue to hang about in the consolidation area that we have been stuck in. It looks as if the $17 level is massive support and could bring call buyers, just as the $18 level could bring put buyers. Any break above or below this area could lead to more significant moves.

EUR/JPY

The Euro initially tried to rally against the Japanese yen during the day on Tuesday, but turned around to fall below the 115 handle during the session. A break below the bottom of the candle for the day on Tuesday could get the put buyers involved in reaching towards the 114 level. A break above the 160 level would be extraordinarily bullish and send call buyers back into the market.