During the day on Wednesday, the FOMC Meeting Minutes come out, which of course will have a massive effect on the US dollar, which in turn will massively affect world markets in general. Because of this, expect quite a bit of volatility later in the day.
Silver bounces
Silver markets have had a couple of rough days, but the Tuesday session was fairly good to them as the support barrier just below the $15 level held and caused a bit of a bounce. At this point in time, it makes sense that the markets will probably wait for the FOMC Meeting Minutes, but if they come out domination, it’s very possible the call buyers will come into the precious metal markets in general, and drive prices higher.
DAX rolls over
The DAX fell pretty hard during the course of the day on Tuesday, and it now looks as if the put buyers are starting to run the show. With this being the case, the next natural support barrier will be somewhere near the €9500 level, and then below there at the €9400 level. Things are looking fairly bearish in Germany at the moment.
CAC falls as well
France then look much better than Germany, and in fact looks a little bit softer. The market looks as if the put buyers are in control, and the next natural support barrier below is going to be the €4200 level. Because of this, it looks as if European indices in general are starting to suffer.
