During the day on Monday, we get the UK Services PMI numbers coming out of London, and the ISM Nonmanufacturing PMI numbers coming out of the United States. With this in mind, we are watching the following 3 assets as the jobs numbers have delivered essentially as expected on Friday.

Silver

Silver markets initially dipped on Friday, but did find a little bit of support as we continue to grind sideways. Currently, looks as if the put buyers are approaching the market at roughly $16.75, while call buyers are interested and $16.25 below. Is nothing on this chart to suggest that’s going to change in the next couple of days.

USD/CAD

The US dollar fell against the Canadian dollar slightly during the day on Friday, as Canada added 10,000 jobs, much better than the expected loss of 20,000 for the month of November. Watch the oil markets, they will be greatly influential but if we can break above the top of the range for Friday, is very likely call buyers will return to this market as it has been in a nice uptrend for the longer term.

WTI Crude Oil

Oil markets continue to see strength due to the OPEC production cuts, as we press up against the $52 level. If we can break above that level, the market could continue to go higher. On the other hand, if we turn around and break below the $50 level that would be a very sign and put buyers would more than likely join the fray.