During the session on Wednesday, we get the Crude Oil Inventories number as per usual, and the Pending Home Sales out of the United States. Because of this, it’s likely that the markets will struggle a bit to find much in the way of headlines unless you are trading indices or crude oil itself.

WTI Crude Oil

The WTI Crude Oil market rallied slightly during the session on Tuesday as we continue to consolidate. Currently, looks as if put buyers are interested in this market at the $49.50 level while the call buyers seem to be interested near the $47 handle. A break out of the consolidation would lead to a larger move.

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Gold

Gold markets have been bullish for some time, but it appears that there is a significant amount of resistance near the $1261 level. A break to a fresh, new high could be a buying opportunity, and should send this market looking for much higher levels as the call buyers flood into the marketplace.

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EUR/USD

The EUR/USD pair initially fell during the day on Tuesday but continues to find buyers. Because of this it looks as if the call buyers are going to continue to jump into the marketplace. Significant resistance as seen above at the 1.10 handle.

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