The day of course will be heavily influenced by the fact that it is Christmas Eve, so liquidity could be a bit of an issue for the session. The market will have a few announcements to consider, but quite frankly we think that the markets are going to be fairly quiet. Because of this, we think that you will have to trade short-term charts as the moves will be somewhat muted.

1 – The US dollar looks like it could be drifting a bit lower overall, but this will only be a short-term move in our opinion. The Dollar should strengthen overall in the longer-term, but it is going to be choppy in general over the next few sessions due to the holidays, so short-term trades will have to suffice until the liquidity returns in January.

2 – The precious metals markets fell slightly during the session on Wednesday, but at the most we are looking at a return to the consolidation that we have seen over the last several weeks. This means that the market could very well fall down to the $1050 level eventually. This won’t happen quickly, but it seems to be the goal at this point in time.

3 – WTI Crude Oil rose again on Wednesday, but we are still very bearish of this market. The $38 level above should be resistive though, so we are simply waiting to see if and when the put buyers come back and push this market lower again. We have no interest in trying to buy calls.