The session on Wednesday has quite a few things to concern itself with, not the least of which will be the ADP Employment Change numbers coming out of the United States. With that and several European announcements, we look at the following 3 assets:

WTI Crude Oil

The WTI Crude Oil market rallied during the session on Tuesday, as we continue to consolidate back and forth. It looks as if the back and forth motion will continue, so as we reach towards the $51 level below, it’s likely the call buyers will return, just as put buyers will return closer to the $55 level.

Gold

Gold markets continue to show strength, and now are above the $1200 level. Because of this, looks as if the call buyers are in control and that we are going to start reaching towards the $1220 level. Pullback should offer value that attract even more call buyers.

GBP/JPY

The British pound fell a bit against the Japanese yen on Tuesday, but there should be a substantial amount of interest near the 140 level by call buyers. On signs of support, we could have a bit of a bounce coming shortly thereafter.