WTI Consolidates, DAX Could Go Higher, Silver Hugs $16 Level
Binary Options Strategy | Jun 22, 2015 02:54AM ET
During the Monday session, there is almost nothing to move the markets as far as economic announcements are concerned, so having said that, we look to the charts for technical analysis. We believe that the technical analysis should send a clear signal in some of the markets out there, and those, of course, are the ones that we are trying to focus on.
The WTI crude oil market continues to consolidate, and the pullback on Friday only houses looking for buying opportunities of calls below. We believe that short-term supportive candles will be call buying opportunities for us to go long, and take advantage of what seems to be a very obvious consolidation area between the $57 level on the bottom, and the $62 level on the top. We believe that this range will hold for the foreseeable future.
The DAX pulled back slightly during the course of the session on Friday, and with that being the case, the market continues to have plenty of support down at the €10,800 level, and as a result, we are buying short-term bounces from there by going long calls. We believe that if we can break above the €11,200 level, the market will continue to go much higher.
Silver markets continue to hug the $16 level in general, and as a result, we think that if you can get $.20 away from that handle, you should aim to reach the $16 level, buying calls below, and buying puts above.
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