Silver Put Options The Favourite Ahead Of FED Meeting and British Referendum
Jun, 14th 10:20
According to the latest polls published on Monday, voters appeared divided with the “Out” campaign widening its lead over the “In” camp. As a result, yesterday, the precious metal’s price saw a slight surge following a massive selloff in global stocks due to investor worries over Britain’s potential exit from the European Union. Nevertheless, today, the markets seem to be cautious before the U.S. Federal Reserve’s two-day meeting, that begins later in the day. On the hourly chart, the price moved downwards to the level of 17.326, after hitting the resistance at 17,437, the highest figure since May 12, 2016. RSI (14) has slid to 45.6178, signaling a bearish setup. According to the stochastics chart, the commodity has already slipped into the oversold zone, and the %D line (red line) is catching up with the %K line (blue line). The precious metal is anticipated to fall further.
Buy Digital Put Option from 17.228 to 17.351 valid until 20:00 June 14, 2016