During the day on Friday, we had several announcements but nothing that is a huge concern. Because of this, we believe that the market will be very technically driven.
Silver looking to break out
Silver markets had a very strong session during the day on Thursday, cracking above the $15.80 level. Because of this, we believe that the market is trying to break above the $16 handle, and once it does a good will go much higher. Pullbacks at this point in time could be call buying opportunities on short-term supportive candles.
French markets finding support at €4400
It looks as if the French markets are starting to find a bit of support at the €4400 level, and as a result we believe the call buying opportunities exist in this general vicinity. We are not looking for major move though, and recognize that €4500 will be resistive going forward. In other words, we are bullish for the short-term only.
FTSE continues to knock on the door
The FTSE continues to knock on the 6200 level, and we did break above there during the session on Thursday for a moment. It now has become obvious to us if we can close on a daily chart above the 6200 level, we could very well find a move higher coming. For shorter-term traders, we are looking for support or bounce is just below that we can buy calls based upon short-term charts.
