Six climb. Two fall. Stay sharp.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

162.90

Our preference:

Long positions above 162.90 with targets at 163.40 & 163.60 in extension.

Alternative scenario:

Below 162.90 look for further downside with 162.70 & 162.50 as targets.

Comment:

The RSI advocates for further advance.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:

1.1415

Our preference:

Short positions below 1.1415 with targets at 1.1390 & 1.1375 in extension.

Alternative scenario:

Above 1.1415 look for further upside with 1.1430 & 1.1445 as targets.

Comment:

The RSI calls for a new downleg.

GBPUSD

GBP/USD intraday: under pressure.

Pivot:

1.3410

Our preference:

Short positions below 1.3410 with targets at 1.3340 & 1.3315 in extension.

Alternative scenario:

Above 1.3410 look for further upside with 1.3430 & 1.3455 as targets.

Comment:

The RSI is bearish and calls for further downside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (U6)‎ intraday: further advance.

Pivot:

83.30

Our preference:

Long positions above 83.30 with targets at 86.20 & 87.70 in extension.

Alternative scenario:

Below 83.30 look for further downside with 81.85 & 81.10 as targets.

Comment:

The RSI is bullish and calls for further upside.

GOLD

Gold intraday: the upside prevails.

Pivot:

4060

Our preference:

Long positions above 4060 with targets at 4100 & 4120 in extension.

Alternative scenario:

Below 4060 look for further downside with 4043 & 4020 as targets.

Comment:

The next resistances are at 4100 and then at 4120.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: look for 52580.

Pivot:

52300

Our preference:

Long positions above 52300 with targets at 52580 & 52760 in extension.

Alternative scenario:

Below 52300 look for further downside with 52170 & 52030 as targets.

Comment:

A support base at 52300 has formed and has allowed for a temporary stabilisation.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

29230

Our preference:

Long positions above 29230 with targets at 29500 & 29600 in extension.

Alternative scenario:

Below 29230 look for further downside with 29070 & 28960 as targets.

Comment:

The break above 29230 is a positive signal that has opened a path to 29500.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: expect 7575.

Pivot:

7525

Our preference:

Long positions above 7525 with targets at 7575 & 7596 in extension.

Alternative scenario:

Below 7525 look for further downside with 7505 & 7474 as targets.

Comment:

The break above 7525 is a positive signal that has opened a path to 7575.