During the session on Thursday, we of course have Christmas Eve liquidity issues, so having said that we feel that trades will all have to be of the shorter-term variety as any significant movement for a prolonged length of time is probably asking a bit much out of the marketplace. With that being said, we will look to the charts for technical analysis setups.
Silver rallies, approaching significant resistance
The silver markets are approaching pretty significant resistance just above at the $14.40 level, so we are waiting to see whether or not the sellers get involved and start purchasing puts. If that’s the case, on a sign of resistance we are more than willing to start buying puts yet again as this market is decidedly bearish over the longer term.
USD/CHF continues to consolidate
The USD/CHF pair rose during the session on Wednesday, and it now looks as if the Thursday market could focus on trying to get back to the parity level. We are buyers of calls on short-term pullbacks as well as a move above the top of the range for the Wednesday session.
CAC rallies
The Parisian index rally during the course of the session on Wednesday, and now looks as if it is ready to take on the resistance and 4750 we are buyers of short-term pullbacks via calls, as we think the market will continue to push higher over the longer term. We have no interest in buying puts.
