Volatile markets due to Greece

Looking at the markets, there is quite a bit of volatility at the open on Monday. However, towards the end of the day we started to see some stability, and as a result we believe it’s only a matter of time before we continue the trends that we had seen previously.

GBP/USD well supported

We believe that the 1.57 level continues offer support in the GBP/USD pair, and as a result we are buyers of calls every time we fall down towards that area. We don’t have any interest whatsoever in selling, and as a result the market should then head to the 1.59 handle. The 1.58 level was tested towards the end of the session, so we think that short-term pullbacks will offer call opportunities as long as we can stay above the general region of 1.57.

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WTI Crude Oil markets fall

During the session on Monday, crude oil markets fell as the US dollar gained against most other currencies in the world due to the negative headlines of Greece, which of course had nothing to do with oil markets themselves. We believe that this market will continue to consolidate, and therefore we are looking for short-term bounces in order to serve buying calls again in the general vicinity that we are now trading at.

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Silver markets fell

Silver markets initially rallied during the day on Monday, but found enough resistance at the $16 level to turn the market around to form a shooting star. However, the candle previously was a hammer, so therefore we expect plenty of choppiness. This is a short-term supportive candle might be a call buying opportunity, but quite frankly this will be one of the more volatile markets out there. At this moment in time, the $15.50 level looks like support.

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