ECB interest rate day

During the session on Thursday, the European Central Bank has an interest rate decision and rate statement following that could move the markets. With this being the case, we pay quite a bit attention to the Euro in general, but recognize that there are other trading opportunities out there.

WTI Crude Oil looking for support

The WTI Crude Well market continues to drift lower, but we see massive support at the $44 level. We believe that any type of bounce or supportive candle in that area on a short-term chart should offer call buying opportunities. However, if we break down below that level we think that the market will have broken significant support, meaning that you have to start thinking about buying puts at that point in time.

Silver looking for support at 15.50

Looks as if the silver market is going to continue to drift just a little bit lower, but we anticipate that the buyers will come back into the marketplace somewhere closer to the $15.50 level. With this, we are call buyers just above that area, on signs of support and of course a bounce. We think that the market will probably grind its way back towards the $16.20 handle again, as we continue to consolidate and try to build up enough momentum to finally break out to the upside.

CAC continues to grind sideways

The Parisian index continues to grind sideways, but we think this is a very supportive sign. With this, we think there is a bit of a “floor” in the market at the €4600 level currently, and any pullback to that area should invite call buying as the market continues to try to build up enough momentum to go towards the €5000 level again.