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

MARKET ANALYSIS

USDJPY

USD/JPY intraday: aim @ 162.45.

Pivot:

161.65

Our preference:

Long positions above 161.65 with targets at 162.25 & 162.45 in extension.

Alternative scenario:

Below 161.65 look for further downside with 161.45 & 161.25 as targets.

Comment:

The RSI shows upside momentum.

EURUSD

EUR/USD intraday: under pressure.

Pivot:

1.1420

Our preference:

Short positions below 1.1420 with targets at 1.1370 & 1.1350 in extension.

Alternative scenario:

Above 1.1420 look for further upside with 1.1440 & 1.1460 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD intraday: towards 1.3320.

Pivot:

1.3410

Our preference:

Short positions below 1.3410 with targets at 1.3350 & 1.3320 in extension.

Alternative scenario:

Above 1.3410 look for further upside with 1.3430 & 1.3450 as targets.

Comment:

The RSI is bearish and calls for further downside.

CRUDE OIL

Crude Oil (WTI)‎ (Q6)‎ intraday: rebound expected.

Pivot:

72.50

Our preference:

Long positions above 72.50 with targets at 74.60 & 75.25 in extension.

Alternative scenario:

Below 72.50 look for further downside with 71.65 & 70.75 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold intraday: under pressure.

Pivot:

4120

Our preference:

Short positions below 4120 with targets at 4055 & 4021 in extension.

Alternative scenario:

Above 4120 look for further upside with 4138 & 4164 as targets.

Comment:

The RSI shows downside momentum.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

52700

Our preference:

Long positions above 52700 with targets at 52980 & 53075 in extension.

Alternative scenario:

Below 52700 look for further downside with 52510 & 52350 as targets.

Comment:

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

NASDAQ 100

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

Pivot:

29730

Our preference:

Long positions above 29730 with targets at 30070 & 30220 in extension.

Alternative scenario:

Below 29730 look for further downside with 29560 & 29400 as targets.

Comment:

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

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

7570

Our preference:

Long positions above 7570 with targets at 7630 & 7650 in extension.

Alternative scenario:

Below 7570 look for further downside with 7555 & 7530 as targets.

Comment:

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