All charts point higher; are you ready?

MARKET ANALYSIS

USDJPY

USD/JPY intraday: towards 159.65.

Pivot:

159.15

Our preference:

Long positions above 159.15 with targets at 159.50 & 159.65 in extension.

Alternative scenario:

Below 159.15 look for further downside with 159.00 & 158.85 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD intraday: bullish bias above 1.1640.

Pivot:

1.1640

Our preference:

Long positions above 1.1640 with targets at 1.1670 & 1.1685 in extension.

Alternative scenario:

Below 1.1640 look for further downside with 1.1625 & 1.1605 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBPUSD

GBP/USD intraday: the bias remains bullish.

Pivot:

1.3430

Our preference:

Long positions above 1.3430 with targets at 1.3470 & 1.3485 in extension.

Alternative scenario:

Below 1.3430 look for further downside with 1.3405 & 1.3385 as targets.

Comment:

The next resistances are at 1.3470 and then at 1.3485.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: towards 91.50.

Pivot:

87.70

Our preference:

Long positions above 87.70 with targets at 91.50 & 92.50 in extension.

Alternative scenario:

Below 87.70 look for further downside with 86.45 & 85.40 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold intraday: 4570 in sight.

Pivot:

4515

Our preference:

Long positions above 4515 with targets at 4570 & 4595 in extension.

Alternative scenario:

Below 4515 look for further downside with 4490 & 4465 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: bullish bias above 50960.

Pivot:

50960

Our preference:

Long positions above 50960 with targets at 51140 & 51220 in extension.

Alternative scenario:

Below 50960 look for further downside with 50860 & 50720 as targets.

Comment:

The next resistances are at 51140 and then at 51220.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: bullish bias above 30230.

Pivot:

30230

Our preference:

Long positions above 30230 with targets at 30510 & 30600 in extension.

Alternative scenario:

Below 30230 look for further downside with 30150 & 30070 as targets.

Comment:

The next resistances are at 30510 and then at 30600.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: look for 7630.

Pivot:

7575

Our preference:

Long positions above 7575 with targets at 7610 & 7630 in extension.

Alternative scenario:

Below 7575 look for further downside with 7555 & 7535 as targets.

Comment:

The RSI calls for a new upleg.