Starting off the week on a 5 month high, Oil is going to turn into a great short-term option for traders. Sideways movement on the price action between old support and resistance lines form October, wave patterns are developing and sentiment will stay indecisive for at least the next two days. This is a great opportunity to take advantage of short term trades (5-10 minutes) where only micro patterns will have dominance. Traders are advised to look for a mixture of CALLS and PUTS on the asset, for the 5-10 minute options. As long as the asset remains between the top two support and resistance lines.
A great opportunity today, GOLD sentiment is looking bearish and should provide good volatility on strong downtrends. Now after a quick bounce off of resistance 1331.301, the asset is reacting to a former pattern set a few months ago and is expected to lose strength. With a high ranging stochastic as well, we can easily determine the asset is overbought and will begin its bearish downtrend within the day. Traders are advised to look for a majority of long PUT options for 1 hour.
Indications on SILVER are strong for this week to make a serious downtrend that will span over the week ahead. Now coming to the end of a sideways period, the rally to push the asset price further is failing and market sentiment is quickly turning bearish as volatility loses speed. As it begins what is expected to be its final bounce off of resistance line 21.85395, the long retraction will begin. Traders are advised to begin looking for the strong downtrend and PUT options for 30 minutes.