USDJPY, Gold, and indices lead gains in a mixed market.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: consolidation in place.

Pivot:

1.3230

Our preference:

Short positions below 1.3230 with targets at 1.3170 & 1.3150 in extension.

Alternative scenario:

Above 1.3230 look for further upside with 1.3250 & 1.3270 as targets.

Comment:

The RSI lacks upward momentum.

USDJPY

USD/JPY intraday: the bias remains bullish.

Pivot:

161.65

Our preference:

Long positions above 161.65 with targets at 161.90 & 162.05 in extension.

Alternative scenario:

Below 161.65 look for further downside with 161.50 & 161.35 as targets.

Comment:

The RSI advocates for further advance.

EURUSD

EUR/USD intraday: consolidation.

Pivot:

1.1415

Our preference:

Short positions below 1.1415 with targets at 1.1370 & 1.1350 in extension.

Alternative scenario:

Above 1.1415 look for further upside with 1.1435 & 1.1455 as targets.

Comment:

As long as 1.1415 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL

Crude Oil (WTI)‎ (Q6)‎ intraday: choppy.

Pivot:

70.90

Our preference:

Short positions below 70.90 with targets at 69.30 & 68.60 in extension.

Alternative scenario:

Above 70.90 look for further upside with 71.85 & 72.50 as targets.

Comment:

The RSI is around its neutrality area at 50%

GOLD

Gold intraday: the bias remains bullish.

Pivot:

4040

Our preference:

Long positions above 4040 with targets at 4095 & 4122 in extension.

Alternative scenario:

Below 4040 look for further downside with 4005 & 3985 as targets.

Comment:

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

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: bounce.

Pivot:

52130

Our preference:

Long positions above 52130 with targets at 52620 & 52860 in extension.

Alternative scenario:

Below 52130 look for further downside with 51930 & 51720 as targets.

Comment:

The RSI advocates for further upside.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: rebound.

Pivot:

29240

Our preference:

Long positions above 29240 with targets at 29885 & 30200 in extension.

Alternative scenario:

Below 29240 look for further downside with 29070 & 28850 as targets.

Comment:

The RSI calls for a bounce.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: rebound.

Pivot:

7365

Our preference:

Long positions above 7365 with targets at 7490 & 7525 in extension.

Alternative scenario:

Below 7365 look for further downside with 7330 & 7295 as targets.

Comment:

The RSI calls for a bounce.