April 17 Daily Trading Opportunities

During the session on Monday, several of the world’s largest economies are still celebrating Easter, including most of Europe and Australia. Because of this, markets could be a bit thin, but we are watching the following three assets.

WTI Crude Oil

The WTI Crude Oil market tried to rally during the session on Thursday and on Friday, and both times ran into significant resistance. Because of this, it looks as if the put buyers may be jumping back into the market. However, expect a significant amount of support near the $52 level.

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Dow Jones 30

The Dow Jones 30 has struggled of late, and is approaching a significant support level near the 20,400 level. Ultimately, it looks as if the market will try to break down below there, and if it does, the market could run down to the 20,000 handle, where there will be much more significant support.

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USD/JPY

The US dollar continues to fall against the Japanese yen, as we now are breaking towards the 108 level. That is the 61.8% Fibonacci retracement, and an area that has been interesting for the market in the past. Currently, it looks as if the put buyers still run the show.

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