Yen and oil are performing well, unlike the Euro, Pound, gold, and indices.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

159.45

Our preference:

Long positions above 159.45 with targets at 159.75 & 159.90 in extension.

Alternative scenario:

Below 159.45 look for further downside with 159.30 & 159.15 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:

1.1645

Our preference:

Short positions below 1.1645 with targets at 1.1620 & 1.1605 in extension.

Alternative scenario:

Above 1.1645 look for further upside with 1.1665 & 1.1685 as targets.

Comment:

The RSI is below its neutrality area at 50%

GBPUSD

GBP/USD intraday: key resistance at 1.3475.

Pivot:

1.3475

Our preference:

Short positions below 1.3475 with targets at 1.3430 & 1.3405 in extension.

Alternative scenario:

Above 1.3475 look for further upside with 1.3490 & 1.3510 as targets.

Comment:

As long as 1.3475 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: intraday support around 90.80.

Pivot:

90.80

Our preference:

Long positions above 90.80 with targets at 93.70 & 94.70 in extension.

Alternative scenario:

Below 90.80 look for further downside with 89.20 & 87.80 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold intraday: key resistance at 4510.

Pivot:

4510

Our preference:

Short positions below 4510 with targets at 4440 & 4400 in extension.

Alternative scenario:

Above 4510 look for further upside with 4545 & 4580 as targets.

Comment:

As long as 4510 is resistance, expect a return to 4440.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: choppy.

Pivot:

51230

Our preference:

Short positions below 51230 with targets at 50860 & 50720 in extension.

Alternative scenario:

Above 51230 look for further upside with 51350 & 51500 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: consolidation in place.

Pivot:

30700

Our preference:

Short positions below 30700 with targets at 30300 & 30150 in extension.

Alternative scenario:

Above 30700 look for further upside with 30850 & 31000 as targets.

Comment:

As long as 30700 is resistance, look for choppy price action with a bearish bias.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: consolidation in place.

Pivot:

7630

Our preference:

Short positions below 7630 with targets at 7575 & 7555 in extension.

Alternative scenario:

Above 7630 look for further upside with 7650 & 7670 as targets.