During the course of the day on Wednesday, we get several different announcements coming out during the day. We have CPI numbers coming out of the European Union, the ADP nonfarm Employment Change numbers coming out of the United States, GB coming out of Canada, and of course Crude Oil Inventories coming out of the USA.

WTI Crude Oil

With the inventory numbers coming out during the day, it’s likely that the market will show quite a bit of volatility, but the $46 level below will be supportive still, so if we did fall below there, you have to think that the put buyers would be very encouraged move. Alternately, if we get some type of bounce in this general vicinity, and that could be thought of as a very bullish sign.

Gold

Gold markets fell slightly during the day on Tuesday, but at the end of the day there is still plenty of support all the way down to the $1300 level, so one would have to believe that sooner or later the call buyers will return in order to take advantage of perceived “value” in this marketplace. Breaking above the $1300 level was significant previously, and now should be yet again as we approached that level.

USD/CHF

It looks as if the US dollar continues to strengthen against the Swiss franc, but there is a little bit of resistance above that we will have to deal with in the form of the 0.9850 level. If we pullback from here, it’s very possible the call buyers may return in order to take advantage of value in the greenback, which of course has been very strong lately.