PMI announcements lead the way

During the session on Wednesday, we will have PMI numbers coming out of Germany, France, and the European Union. This should bring about quite a bit of interesting trading opportunities in the European Union, as we have seen such negativity during the day on Tuesday. Any disappointment could be a reason to continue the downtrend.

CAC falls apart

The Parisian index fell significantly during the session on Tuesday, breaking the vital €4500 level. Because of this, we believe that the market will continue to drift lower, perhaps heading down to the €4300 level. It is not until we get a move back above the €4500 level in the meantime that we would be comfortable buying calls.

Gold looking for support

Gold markets fell during the day on Tuesday but bounced off of the $1120 level. Because of this, we believe that short-term call buying opportunities may present themselves. However, we would stress the term “short-term.” As long as the $1120 level holds out support, we believe that little bits and pieces of profit can be taken out of this market.

WTI Crude Oil to get “inventory numbers today

The WTI Crude Oil market fell slightly during the course of the day on Tuesday, but today gives the inventory number out of the United States. We believe that the $44 level should continue to be supportive, and any pullback towards that area could be a potential call buying opportunity. A break down below there should send the market looking for the $42 level next.