Six markets are gaining momentum, two are consolidating.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

162.30

Our preference:

Long positions above 162.30 with targets at 162.80 & 163.00 in extension.

Alternative scenario:

Below 162.30 look for further downside with 162.10 & 161.90 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD intraday: bullish bias above 1.1405.

Pivot:

1.1405

Our preference:

Long positions above 1.1405 with targets at 1.1430 & 1.1445 in extension.

Alternative scenario:

Below 1.1405 look for further downside with 1.1390 & 1.1375 as targets.

Comment:

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

GBPUSD

GBP/USD intraday: the bias remains bullish.

Pivot:

1.3365

Our preference:

Long positions above 1.3365 with targets at 1.3410 & 1.3430 in extension.

Alternative scenario:

Below 1.3365 look for further downside with 1.3345 & 1.3325 as targets.

Comment:

The RSI is above its neutrality area at 50%.

CRUDE OIL

Crude Oil (WTI)‎ (Q6)‎ intraday: towards 78.00.

Pivot:

72.90

Our preference:

Long positions above 72.90 with targets at 76.00 & 78.00 in extension.

Alternative scenario:

Below 72.90 look for further downside with 71.80 & 70.70 as targets.

Comment:

The next resistances are at 76.00 and then at 78.00.

GOLD

Gold intraday: key resistance at 4095.

Pivot:

4095

Our preference:

Short positions below 4095 with targets at 4040 & 4020 in extension.

Alternative scenario:

Above 4095 look for further upside with 4130 & 4170 as targets.

Comment:

As long as 4095 is resistance, look for choppy price action with a bearish bias.

DOW JONES

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

Pivot:

52780

Our preference:

Short positions below 52780 with targets at 52350 & 52000 in extension.

Alternative scenario:

Above 52780 look for further upside with 52910 & 53090 as targets.

Comment:

The RSI is below its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: towards 29730.

Pivot:

29250

Our preference:

Long positions above 29250 with targets at 29550 & 29730 in extension.

Alternative scenario:

Below 29250 look for further downside with 29050 & 28940 as targets.

Comment:

The RSI is above its neutrality area at 50%.

S&P 500

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

Pivot:

7500

Our preference:

Long positions above 7500 with targets at 7565 & 7590 in extension.

Alternative scenario:

Below 7500 look for further downside with 7470 & 7455 as targets.

Comment:

The next resistances are at 7565 and then at 7590.