Light economic calendar

With just the German Industrial Production numbers coming out during the day, there isn’t a whole lot out there to move the markets. With this, we look at the charts for our next trade.

CAC looks horrible

The Parisian index is trying to make a fresh, new low at the time of writing., And it appears that the put buyers are going to take over. On a break down to a fresh, new low, we believe that the buyers will drive this market to the €4000 level, and then lower than that. With no interest in buying calls, and believe that any bounce from here will more than likely attract put buyers as well.

Chart 1

Silver breaks out

Silver markets have absolutely exploded to the upside over the last several sessions, and we now find yourselves above the $15 level. Quite frankly, it’s a bit difficult to buy calls at this point but we do recognize that pullbacks will be supported and should be call buying opportunities. Simply look for support at lower levels and start buying calls.

Chart 2

GBP/USD falls

Looks as if we are testing a certain amount of support in the GBP/USD pair, but if we can break down below the 1.4350 level, we are comfortable buying puts and aiming towards the 1.42 handle. At this point in time, we are not willing to buy calls, but would be interested if we get a supportive daily close.

Chart 3

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