USDJPY, Gold, and the Dow lead gains in a mixed market.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: key resistance at 1.3275.

Pivot:

1.3275

Our preference:

Short positions below 1.3275 with targets at 1.3215 & 1.3190 in extension.

Alternative scenario:

Above 1.3275 look for further upside with 1.3300 & 1.3320 as targets.

Comment:

As long as 1.3275 is resistance, look for choppy price action with a bearish bias.

USDJPY

USD/JPY intraday: bullish bias above 161.30.

Pivot:

161.30

Our preference:

Long positions above 161.30 with targets at 161.75 & 161.90 in extension.

Alternative scenario:

Below 161.30 look for further downside with 161.15 & 161.00 as targets.

Comment:

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

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:

1.1450

Our preference:

Short positions below 1.1450 with targets at 1.1415 & 1.1395 in extension.

Alternative scenario:

Above 1.1450 look for further upside with 1.1465 & 1.1480 as targets.

Comment:

The RSI advocates for further downside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: aim @ 73.25.

Pivot:

75.00

Our preference:

Short positions below 75.00 with targets at 73.25 & 72.80 in extension.

Alternative scenario:

Above 75.00 look for further upside with 76.00 & 76.70 as targets.

Comment:

As long as the resistance at 75.00 is not surpassed, the risk of the break below 73.25 remains high.

GOLD

Gold intraday: 4220 in sight.

Pivot:

4160

Our preference:

Long positions above 4160 with targets at 4220 & 4250 in extension.

Alternative scenario:

Below 4160 look for further downside with 4140 & 4120 as targets.

Comment:

The RSI is around its neutrality area at 50%

DOW JONES

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

Pivot:

51970

Our preference:

Long positions above 51970 with targets at 52280 & 52420 in extension.

Alternative scenario:

Below 51970 look for further downside with 51790 & 51680 as targets.

Comment:

The next resistances are at 52280 and then at 52420.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:

30775

Our preference:

Short positions below 30775 with targets at 30340 & 30180 in extension.

Alternative scenario:

Above 30775 look for further upside with 30950 & 31080 as targets.

Comment:

As long as 30775 is resistance, look for choppy price action with a bearish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: choppy.

Pivot:

7580

Our preference:

Short positions below 7580 with targets at 7513 & 7500 in extension.

Alternative scenario:

Above 7580 look for further upside with 7600 & 7615 as targets.

Comment:

The RSI is below its neutrality area at 50%