Two climb. Six fall. Stay focused.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the bias remains bullish.

Pivot:

162.30

Our preference:

Long positions above 162.30 with targets at 162.70 & 162.85 in extension.

Alternative scenario:

Below 162.30 look for further downside with 162.15 & 162.00 as targets.

Comment:

The RSI lacks downward momentum.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:

1.1435

Our preference:

Short positions below 1.1435 with targets at 1.1390 & 1.1375 in extension.

Alternative scenario:

Above 1.1435 look for further upside with 1.1450 & 1.1465 as targets.

Comment:

The RSI calls for a new downleg.

GBPUSD

GBP/USD intraday: towards 1.3380.

Pivot:

1.3455

Our preference:

Short positions below 1.3455 with targets at 1.3400 & 1.3380 in extension.

Alternative scenario:

Above 1.3455 look for further upside with 1.3480 & 1.3500 as targets.

Comment:

The RSI advocates for further downside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (U6)‎ intraday: bullish bias above 81.10.

Pivot:

81.10

Our preference:

Long positions above 81.10 with targets at 83.30 & 84.35 in extension.

Alternative scenario:

Below 81.10 look for further downside with 80.30 & 79.60 as targets.

Comment:

The next resistances are at 83.30 and then at 84.35.

GOLD

Gold intraday: consolidation in place.

Pivot:

4027

Our preference:

Short positions below 4027 with targets at 3982 & 3960 in extension.

Alternative scenario:

Above 4027 look for further upside with 4040 & 4054 as targets.

Comment:

The RSI is around its neutrality area at 50%

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:

52280

Our preference:

Short positions below 52280 with targets at 51800 & 51700 in extension.

Alternative scenario:

Above 52280 look for further upside with 52380 & 52580 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: under pressure.

Pivot:

28940

Our preference:

Short positions below 28940 with targets at 28590 & 28400 in extension.

Alternative scenario:

Above 28940 look for further upside with 29100 & 29350 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:

7522

Our preference:

Short positions below 7522 with targets at 7455 & 7430 in extension.

Alternative scenario:

Above 7522 look for further upside with 7536 & 7550 as targets.

Comment:

The RSI is below its neutrality area at 50%