Daily Trading Opportunities - Tuesday, March 21
On Tuesday, there isn’t much in the way of economic announcements, with perhaps the one exception of the UK CPI numbers. There are several mid-level announcements, but at the end of the day it should be a relatively quiet session.
Silver markets tried to rally slightly during the session on Monday, but the $17.50 level continues to offer resistance. Because of this, put buyers more than likely will be attracted to this market. A break above the $17.50 level should send this market to the $18 level and perhaps get call buyers interested.
The EUR/JPY pair bounced off of the 121 handle, perhaps sending call buyers back into the market and reaching towards the 123 level again. The 121 level should continue to be a supportive level that a lot of call buyers will be looking for.
WTI Crude Oil
The WTI Crude Oil market continues to show bearish pressure, as we have broken down towards the $40 level. We should now then go towards the $47 level underneath which has been supportive in the past, getting put buyers involved in this market.