Silver And The FOMC Minutes
Binary Options Strategy | May 20, 2015 02:05AM ET
Today could be an interesting session as the FOMC releases the minutes from the last meeting, which will more than likely drive a lot of volatility into the marketplace. On top of that, you have the MPC out of the United Kingdom doing the same thing, so we could see volatility on both sides of the Atlantic.
Keep an eye on the silver markets, we did drop to the $17 level during the session on Tuesday, but found a little bit of buying pressure in that area. We believe that short-term charts might lead the way in order to take advantage of call buying opportunities in a market that should head back to the 17.50 level.
The FTSE 100 tried to rally during the session, but continues to struggle with the 7000 handle. However, if we can get above the highs from the Monday session which we see as the 7020 level, we would be buyers of calls and we believe that the MPC monetary minutes might be reason enough to start buying. That could bring in the volatility that we need to go higher in this market.
The S&P 500 trying to rally during the session but pulled back. Nonetheless, we do recognize that this market has broken out to the upside and that it’s only a matter of time before we continue to go higher. We believe that short-term call buying opportunities will exist, and it’s probably only a matter of time before we start going long yet again.
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