With a handful of announcements coming out of the United States and Japan today, this could be a bit of a volatile trading market, but at the end of the day we believe that the technical analysis will lead the way more than anything else.

WTI Crude Oil

During the session on Wednesday, the WTI Crude Oil markets fell a bit during the course of the session to turn things back around to form a hammer. This hammer of course is a fairly bullish sign, so we could get a short-term bounce. However, we believe that the $34 level will continue to offer enough resistance to keep this market down. We are buyers of puts on signs of exhaustion.

Gold skyrockets

Gold markets rallied during the course of the session on Wednesday, reaching towards the highs yet again. We believe that a pullback at this point in time should be an opportunity to serve buying calls again. And a fresh new high would also be reason enough to serve buying calls as well.

USD/CHF

The US dollar fell against the Swiss franc during the day after initially trying to rally on Wednesday. If we can break down below the bottom of the range for the session on Wednesday, we believe that puts will be bought in the market should then head to the 0.98 level, and then possibly the 0.97 handle.