Quick Hits from Today's Markets

Market Analysis

GBPUSD

GBP/USD Intraday: bullish bias above 1.3300.

Pivot:

1.3300

Our preference:

Long positions above 1.3300 with targets at 1.3370 & 1.3390 in extension.

Alternative scenario:

Below 1.3300 look for further downside with 1.3280 & 1.3260 as targets.

Comment:

The RSI advocates for further advance.

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:

152.50

Our preference:

Short positions below 152.50 with targets at 151.55 & 151.15 in extension.

Alternative scenario:

Above 152.50 look for further upside with 152.85 & 153.25 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:

1.1575

Our preference:

Long positions above 1.1575 with targets at 1.1630 & 1.1645 in extension.

Alternative scenario:

Below 1.1575 look for further downside with 1.1560 & 1.1540 as targets.

Comment:

The RSI is above its neutrality area at 50%.

CRUDE OIL

Crude Oil (WTI)‎ (X5)‎ Intraday: key resistance at 59.85.

Pivot:

59.85

Our preference:

Short positions below 59.85 with targets at 58.70 & 58.20 in extension.

Alternative scenario:

Above 59.85 look for further upside with 60.40 & 61.25 as targets.

Comment:

The index currently faces a challenging resistance area at 59.85.

GOLD

Gold Intraday: the upside prevails.

Pivot:

4000.00

Our preference:

Long positions above 4000.00 with targets at 4090.00 & 4128.00 in extension.

Alternative scenario:

Below 4000.00 look for further downside with 3970.00 & 3945.00 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: up turn.

Pivot:

24450.00

Our preference:

Long positions above 24450.00 with targets at 24910.00 & 25170.00 in extension.

Alternative scenario:

Below 24450.00 look for further downside with 24150.00 & 23780.00 as targets.

Comment:

The RSI calls for a bounce.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: bounce.

Pivot:

6605.00

Our preference:

Long positions above 6605.00 with targets at 6715.00 & 6762.00 in extension.

Alternative scenario:

Below 6605.00 look for further downside with 6544.00 & 6506.00 as targets.

Comment:

The RSI calls for a bounce.

DOW JONES

Dow Jones (CME)‎ (Z5)‎ Intraday: rebound.

Pivot:

45770.00

Our preference:

Long positions above 45770.00 with targets at 46350.00 & 46530.00 in extension.

Alternative scenario:

Below 45770.00 look for further downside with 45450.00 & 45200.00 as targets.

Comment:

The RSI calls for a bounce.