USDJPY and Crude Oil charted their course; the rest followed their breakdowns.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: bullish bias above 160.00.

Pivot:160.00

Our preference:

Long positions above 160.00 with targets at 160.50 & 160.70 in extension.

Alternative scenario:

Below 160.00 look for further downside with 159.80 & 159.60 as targets.

Comment:

The RSI advocates for further advance.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:1.1560

Our preference:

Short positions below 1.1560 with targets at 1.1500 & 1.1460 in extension.

Alternative scenario:

Above 1.1560 look for further upside with 1.1590 & 1.1620 as targets.

Comment:

The RSI is bearish and calls for further decline.

GBPUSD

GBP/USD intraday: under pressure.

Pivot:1.3375

Our preference:

Short positions below 1.3375 with targets at 1.3300 & 1.3260 in extension.

Alternative scenario:

Above 1.3375 look for further upside with 1.3410 & 1.3445 as targets.

Comment:

The RSI has broken down its 30 level.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: intraday support around 91.50.

Pivot:91.50

Our preference:

Long positions above 91.50 with targets at 93.90 & 94.80 in extension.

Alternative scenario:

Below 91.50 look for further downside with 90.70 & 89.70 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold intraday: key resistance at 4365.

Pivot:4365

Our preference:

Short positions below 4365 with targets at 4305 & 4260 in extension.

Alternative scenario:

Above 4365 look for further upside with 4400 & 4430 as targets.

Comment:

As long as the resistance at 4365 is not surpassed, the risk of the break below 4305 remains high.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: key resistance at 51270.

Pivot:51270

Our preference:

Short positions below 51270 with targets at 50560 & 50210 in extension.

Alternative scenario:

Above 51270 look for further upside with 51575 & 51760 as targets.

Comment:

A break below 50560 would trigger a drop towards 50210.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: aim @ 28370.

Pivot:29420

Our preference:

Short positions below 29420 with targets at 28370 & 27960 in extension.

Alternative scenario:

Above 29420 look for further upside with 29780 & 30250 as targets.

Comment:

The immediate trend remains down and the momentum is strong.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: key resistance at 7470.

Pivot:7470

Our preference:

Short positions below 7470 with targets at 7300 & 7250 in extension.

Alternative scenario:

Above 7470 look for further upside with 7530 & 7575 as targets.

Comment:

As long as 7470 is resistance, look for choppy price action with a bearish bias.