During the day on Wednesday we have several announcements, but one of the more interesting ones will be the New Zealand interest-rate decision and more importantly, the statement that accompanies that. After all, it gives us an idea of what the central bank in New Zealand sees in the global economy, and it can give us an idea as to whether or not risk appetite will be in order.

Gold struggles

Gold market tried to rally during the course of the session on Tuesday, but struggled at the $1080 level. With this, the market pullback to form a bit of a shooting star. We believe that a break down below the bottom of the range for the Tuesday session is a put buying opportunity as the market should then reach towards the $1050 level.

WTI Crude Oil makes a fresh, new low

During the session on Tuesday, the market broke down well below the $38 level, but found a little bit of support below to bounce and form a hammer. Because of this, the market looks like it could bounce from here, but quite frankly we think that any bounce will be a put buying opportunity. We also would be buyers of puts below the bottom of the range for the session on Tuesday.

DAX testing support

The German DAX seems to have quite a bit of support near the €10,600 level. Because of this, we are waiting to see whether or not we get some type of bounce or supportive candle in order to start buying calls. At this point in time, we have no interest in buying puts, at least not until we break well below the €10,400 level.