Silver markets look ready to break out

We are watching the summer markets currently, because the $15.00 level has been so resistive. If we can break above there on a daily close, we would be call buyers as the market should then head to the $15.50 handle. On the other hand, if we get some type of resistive candle in this area, we would not hesitate to start buying puts as the market has been so well defined lately.

GBP/USD starting to show support

The GBP/USD pair is starting to show support near the 1.55 handle, as we formed a hammer on Friday, and it now looks like we are trying to break above the top of that hammer. If we get that move, we believe this market will then head towards the 1.57 level yet again as we continue to consolidate in what is typically one of the quieter parts of the year.

FTSE has a wild ride

The FTSE fell hard during the course of the session on Monday, but found enough support at the 6650 level to turn things back around and form a bit of a hammer like candle. Regardless, it shows just how much support is below, and as a result we are buyers of calls on short-term pullbacks as the market should eventually reach towards the 6800 level.