Looking at the session for Monday, Manufacturing PMI numbers are coming out on both the USA and the United Kingdom, and quite frankly that’s about it as far as economic announcements are concerned. With that, the market looks as if there will be a little bit of volatility, but at the end of the day we feel that a lot of the overall trends are continuing.

WTI Crude Oil offers put buying opportunities

The WTI Crude Oil markets fell during the course of the session on Friday, slicing through the $48 handle. Because of this, we are put buyers as we believe this market is ready to head down to $47, and then eventually $42 given enough time. Regardless, we have no interest in buying calls at all as is market is most certainly in a massive downtrend.

Euro shoots higher during the Friday session

The EUR/USD pair shot straight up during the Friday session, but ran into a significant amount of resistance at the 1.11 handle. Because of this, we are waiting to see if we get some type of pullback with signs of support on a short-term chart to start buying calls again. We believe that this market is trying to head higher, but recognize that it is going to be very choppy in the short-term.

FTSE tries to fall initially, but turned back around to form a hammer

The FTSE fell initially during the course of the session on Friday, but found the 6650 level below to be supportive. By turning back around, we ended up forming a hammer. A break above the top of the hammer is a call buying opportunity towards the 6800 level. We have no interest in buying puts.