The markets in general will be awaiting the see what the Greek Parliament does in reaction to a potential agreement between Athens and its creditors. The reality is that the Greeks don’t really have a choice, and things will return to normal fairly soon. With that, we believe that the market should stabilize a little bit, and could offer a nice trading opportunity or 2.

Silver markets currently are testing support near the $15.80 level, and we believe that somewhere in the near future we will see a bit of a bounce. As long as we stay above the $15.60 level, we think the call buying opportunity still exists. We need to see some type supportive candle in order to start going long, and as a result we will be patiently awaiting that on short-term charts. We have no interest in buying puts, simply because we see too many bumps in the road on the way down.

The FTSE had a strong session on Tuesday again, as we have cleared the 6800 level. We believe that the market should then head to the 6900 level, and reenter consolidation all the way to the 7100 level. Because of this, we are buyers of calls on short-term pullbacks as long as we can stay above the 6700 level.

Even though the British pound fell against the US dollar rather significantly during the day on Tuesday, we remained above the vital 1.57 level, and therefore we are buyers of calls in this region. We believe eventually the market will go to the 1.60 level, but it won’t necessarily be the easiest move whatsoever. With that though, if you have some wherewithal, you should find profits on the upside.

The Euro moved lower against the US Dollar after the daily close below the 38.2% Fib at 1.1200. We favour of buying put options. Near-term support is at 1.1130, with a break below that on a daily closing basis exposing the support level at 1.1045. In case of a move above the 38.2% Fib at 1.1200, we could be buyers of calls.

Oil prices may move higher after closed above the 61.8% Fib, with that in mind we favour buying call options. Near-term resistance is at 61.42-61.78 area with a break above that exposing the level at 62.49.In case of a move below the 61.8% Fib we could be buyers of put options with near-term support at 58.66.

The DAX is trading higher during the yesterday’s session. We would be buyers of calls for the DAX as it closed above the resistance-turned-support level at 11454.40. Near-term resistance is at 11876.68. In case of a move below the 11454.40, we could be buyers of puts.