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Need to issue a CORRECTION on that large FX Exchange Traded Option last Week.
We noted the Put was sold on Tuesday and Wednesday, but there was some report that the aggressor on Friday was a buyer, in over 13k.
Looking at OI Today, it doesn't look to be the case and the put was only sold, the Option trade should now read:
A bear cycle in Silver that started Oct 23 last year remains in play and recent gains still appear corrective. The metal is holding on to its latest gains and this does suggest scope for a continuation near-term. An extension would expose key resistance at $32.338, the Dec 12 high. Clearance of this level would signal a reversal. On the downside, support to watch is $29.509, the Jan 13 low, and $29.748, the Dec 19 low and the bear trigger.
Recent price action in USDCAD highlights resistance at 1.4516, the Jan 21 low, and support at 1.4261, the Jan 20 low. Both levels also represent important short-term directional triggers. The trend condition remains bullish and a clear breach of 1.4516 would confirm a resumption of the bull cycle. For bears, a move through 1.4261 and 1.4248, the 50-day EMA, would instead highlight a possible reversal.