Two markets rise, six decline; seize momentum.

MARKET INSIGHTS

USDJPY

USD/JPY intraday: further advance.

Pivot:

159.75

Our preference:

Long positions above 159.75 with targets at 160.10 & 160.30 in extension.

Alternative scenario:

Below 159.75 look for further downside with 159.55 & 159.40 as targets.

Comment:

The RSI is bullish and calls for further upside.

EURUSD

EUR/USD intraday: under pressure.

Pivot:

1.1650

Our preference:

Short positions below 1.1650 with targets at 1.1605 & 1.1585 in extension.

Alternative scenario:

Above 1.1650 look for further upside with 1.1665 & 1.1685 as targets.

Comment:

The RSI calls for a new downleg.

GBPUSD

GBP/USD intraday: choppy.

Pivot:

1.3480

Our preference:

Short positions below 1.3480 with targets at 1.3440 & 1.3420 in extension.

Alternative scenario:

Above 1.3480 look for further upside with 1.3500 & 1.3520 as targets.

Comment:

As long as 1.3480 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: further advance.

Pivot:

93.20

Our preference:

Long positions above 93.20 with targets at 96.00 & 97.40 in extension.

Alternative scenario:

Below 93.20 look for further downside with 92.20 & 91.25 as targets.

Comment:

The RSI shows upside momentum.

GOLD

Gold intraday: turning down.

Pivot:

4510

Our preference:

Short positions below 4510 with targets at 4445 & 4400 in extension.

Alternative scenario:

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

Comment:

The RSI shows downside momentum.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: the downside prevails.

Pivot:

51440

Our preference:

Short positions below 51440 with targets at 51160 & 51080 in extension.

Alternative scenario:

Above 51440 look for further upside with 51570 & 51700 as targets.

Comment:

The RSI is bearish and calls for further downside.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: turning down.

Pivot:

30750

Our preference:

Short positions below 30750 with targets at 30520 & 30430 in extension.

Alternative scenario:

Above 30750 look for further upside with 30830 & 30920 as targets.

Comment:

The RSI is bearish and calls for further decline.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: choppy.

Pivot:

7630

Our preference:

Short positions below 7630 with targets at 7595 & 7575 in extension.

Alternative scenario:

Above 7630 look for further upside with 7647 & 7667 as targets.

Comment:

The RSI calls for a drop.