April 28th – Today's Trading Tips & Market Analysis
1 – The FTSE is already tried to break out a little bit over the last couple of sessions, but with the GDP numbers coming out of the UK today, it is possible that gives us enough momentum to completely leave the sellers behind. With this, we believe the call buying is the only thing you can do, especially once we reach the 7110 level as it should signal a new leg higher.
2 – Silver markets have had a slight bounce during the Monday session, we believe that they are going to now head towards the $16 level. With this, we are call buyers but recognize that there is quite a bit of volatility, and that short-term trades are probably about the best way to play this market at the moment.
3 – The DAX rose drastically during the session on Monday, slamming into the €12,000 level. If we can get above the €12,000 level, at that point in time we would be call buyers as it should then send the DAX to the €12,400 level next. Regardless, there is no interest in buying puts as we believe the downtrend is over and we begin to continue higher and follow the longer-term uptrend.
4 – The EUR/USD pair fell slightly at the 1.0850 region, as the downtrend continues to push the market lower. We have no interest in buying calls, we believe that there is so much in the way of resistance between here and the 1.10 level that sooner or later the sellers will take over. Look for resistance on short-term charts in order to continue to buy puts as this market could very well drive back down towards the 1.06 handle.
Disclosure: None