June 26th, 2015 Analysis: Silver Going Sideways
Binary Options Strategy | Jun 26, 2015 06:23AM ET
As far as we can see, there’s really nothing in the economic announcements coming out today that should move the markets. With that being said, we look at technical analysis to guide our trades.
With the S&P 500 trying to rally during the session on Thursday and failing, it looks as if we may pullback. However, we have no interest in buying puts, and believe that call buying opportunities will present themselves below, and with a supportive candle, we are without a doubt buying calls. We believe that this is the case until we get below the 2070 handle.
Looking at the silver markets, it appears that we are simply going sideways and we are sitting on support. The $15.80 level has been supportive for some time now, as this is the bottom of consolidation. The $16.20 level is the top of the same consolidation area, so that’s exactly what we will be aiming for as we buy calls.
WTI crude oil markets continue to do very little, and as a result, we simply think that buying short-term calls on short-term pullbacks will be the way going forward. We think that the summertime is going to be more consolidation, but ultimately, we will break out to the upside.
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