During the day on Monday, we get the CPI numbers coming out of both Italy and the European Union, and a handful of mid-level announcements coming from the United States and other parts of the world. Because of this, we anticipate that the volume during the day on Monday should be relatively steady.

Gold

Gold markets initially fell during the day on Friday, but found the $1260 level to be supportive enough to cause a bit of a bounce. With this, it looks as if there is still resistance at roughly $1275, but the market appears to be trying to break out above there. Once it does, call buyers could be encouraged and may try to push this market all the way to the $1300 level.

USD/JPY

The US dollar has broken out above the 105 level against the Japanese yen, but during the day on Friday it was fairly quiet. This may signal a short-term pullback as the market tries to build up enough momentum to continue the move higher. With this, supportive candles on a short-term pullback might be inviting for call buyers.

DAX

The DAX initially fell during the day on Friday but found the €10,600 level be supportive enough to turn around and form a bit of a hammer. It looks as if the call buyers are very active in this market as we continue to try to build up momentum to break above the €10,800 level. Once above there, the market could be free to go much higher but in the meantime it looks as if call buyers will return again and again on short-term pullbacks.