With the Initial Jobless Claims coming out, the Construction PMI numbers coming out of the United Kingdom, the interest rate decision coming out of London, and several other mid-level announcements, today could be an interesting trading session.
WTI Crude Oil
The crude oil markets continue to chop around the $53 level, and within the larger consolidation area. It looks as if there is massive support at $51 underneath, and extending all the way to $50, while there seems to be massive resistance at $54 and extending all the way to $55. In the meantime, call buyers and put buyers will both be active in this market, leading into short-term back and forth type of trades.
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USD/CHF
The US dollar bounced slightly against the Swiss franc on Wednesday, as the 0.99 level attracts a lot of attention. A break above the 0.9950 level could have the call buyers trying to reach parity again. Alternately, a break below the 0.95 0 level should have the put buyers active yet again.
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Silver
Silver markets pulled back slightly during the Wednesday session, but quite frankly have broken out. Because of this, pullback should continue to offer value for call buyers, as the $17 level will more than likely be very supportive going forward.
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