Quiet economic calendar November 3, 2015
During the session on Tuesday, there’s very little to move the markets in general, as we have Retail Sales coming out of Australia, and a Break Statement. Neither one of those should move anything outside of the Australian dollar with any real gusto, and as a result we believe that this market should be fairly quiet.
The WTI Crude Oil market continues to go back and forth, showing support at the $46 level. With that, we believe that buying calls on short-term pullbacks might be the way to go going forward, as volatility should continue but we also recognize that it will be fairly small movements overall.
The FTSE initially fell during the course of the session on Monday, but found enough support at the 6300 level to turn things back around and form a nice-looking hammer. With that, we believe that this market does continue to go higher so therefore we are call buyers. At that point in time, we anticipate that this market will continue to grind its way towards the 6425 handle.