Strategic Price Levels in Focus

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the bias remains bullish.

Pivot:

156.40

Our preference:

Long positions above 156.40 with targets at 156.90 & 157.10 in extension.

Alternative scenario:

Below 156.40 look for further downside with 156.20 & 156.00 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1700

Our preference:

Short positions below 1.1700 with targets at 1.1660 & 1.1640 in extension.

Alternative scenario:

Above 1.1700 look for further upside with 1.1720 & 1.1740 as targets.

Comment:

The RSI calls for a new downleg.

GBPUSD

GBP/USD Intraday: under pressure.

Pivot:

1.3495

Our preference:

Short positions below 1.3495 with targets at 1.3430 & 1.3400 in extension.

Alternative scenario:

Above 1.3495 look for further upside with 1.3515 & 1.3535 as targets.

Comment:

The RSI is bearish and calls for further downside.

GOLD

Gold Intraday: key resistance at 4475.

Pivot:

4475

Our preference:

Short positions below 4475 with targets at 4426 & 4396 in extension.

Alternative scenario:

Above 4475 look for further upside with 4500 & 4513 as targets.

Comment:

As long as 4475 is resistance, expect a return to 4426.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (G6)‎ Intraday: key resistance at 56.65.

Pivot:

56.65

Our preference:

Short positions below 56.65 with targets at 55.85 & 55.40 in extension.

Alternative scenario:

Above 56.65 look for further upside with 57.10 & 57.75 as targets.

Comment:

The RSI is mixed.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: target 48900.

Pivot:

49450

Our preference:

Short positions below 49450 with targets at 49100 & 48900 in extension.

Alternative scenario:

Above 49450 look for further upside with 49640 & 49830 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: watch 6915.

Pivot:

6990

Our preference:

Short positions below 6990 with targets at 6938 & 6915 in extension.

Alternative scenario:

Above 6990 look for further upside with 7005 & 7030 as targets.

Comment:

The break below the support at 6990 triggered a downward acceleration to 6915.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: aim @ 25640.

Pivot:

26000

Our preference:

Short positions below 26000 with targets at 25730 & 25640 in extension.

Alternative scenario:

Above 26000 look for further upside with 26100 & 26180 as targets.

Comment:

The RSI is below its neutrality area at 50%