Five markets are growing, three are declining. Focus accordingly.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: the bias remains bullish.

Pivot:

1.3400

Our preference:

Long positions above 1.3400 with targets at 1.3440 & 1.3460 in extension.

Alternative scenario:

Below 1.3400 look for further downside with 1.3380 & 1.3360 as targets.

Comment:

A support base at 1.3400 has formed and has allowed for a temporary stabilisation.

USDJPY

USD/JPY intraday: bullish bias above 160.15.

Pivot:

160.15

Our preference:

Long positions above 160.15 with targets at 160.55 & 160.70 in extension.

Alternative scenario:

Below 160.15 look for further downside with 160.00 & 159.85 as targets.

Comment:

The next resistances are at 160.55 and then at 160.70.

EURUSD

EUR/USD intraday: bullish bias above 1.1585.

Pivot:

1.1585

Our preference:

Long positions above 1.1585 with targets at 1.1620 & 1.1640 in extension.

Alternative scenario:

Below 1.1585 look for further downside with 1.1570 & 1.1555 as targets.

Comment:

The RSI is above its neutrality area at 50%.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: target 74.70.

Pivot:

77.10

Our preference:

Short positions below 77.10 with targets at 74.70 & 73.10 in extension.

Alternative scenario:

Above 77.10 look for further upside with 78.45 & 80.15 as targets.

Comment:

As long as the resistance at 77.10 is not surpassed, the risk of the break below 74.70 remains high.

GOLD

Gold intraday: bullish bias above 4300.

Pivot:

4300

Our preference:

Long positions above 4300 with targets at 4365 & 4405 in extension.

Alternative scenario:

Below 4300 look for further downside with 4275 & 4245 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: bullish bias above 52375.

Pivot:

52375

Our preference:

Long positions above 52375 with targets at 52730 & 53000 in extension.

Alternative scenario:

Below 52375 look for further downside with 52150 & 52000 as targets.

Comment:

A support base at 52375 has formed and has allowed for a temporary stabilisation.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: under pressure.

Pivot:

30610

Our preference:

Short positions below 30610 with targets at 30050 & 29880 in extension.

Alternative scenario:

Above 30610 look for further upside with 30760 & 30970 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: aim @ 7540.

Pivot:

7615

Our preference:

Short positions below 7615 with targets at 7540 & 7520 in extension.

Alternative scenario:

Above 7615 look for further upside with 7650 & 7675 as targets.

Comment:

As long as 7615 is resistance, expect a return to 7540.