ICM Capital Daily Market Update - Tuesday 13 December 2016

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.0595 Our preference: long positions above 1.0595 with targets at 1.0680 & 1.0705 in extension. Alternative scenario: below 1.0595 look for further downside with 1.0550 & 1.0525 as targets. Comment: technically the RSI is above its neutrality area at 50.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/JPY Intraday: under pressure.

Pivot: 115.60 Our preference: short positions below 115.60 with targets at 114.60 & 114.30 in extension. Alternative scenario: above 115.60 look for further upside with 116.15 & 116.50 as targets. Comment: the RSI lacks upward momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: aim @ 1.2700.

Pivot: 1.2640 Our preference: long positions above 1.2640 with targets at 1.2700 & 1.2740 in extension. Alternative scenario: below 1.2640 look for further downside with 1.2620 & 1.2595 as targets. Comment: the RSI is supported by a rising trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Gold spot Intraday: continuation of the rebound.

Pivot: 1160.00 Our preference: long positions above 1160.00 with targets at 1169.00 & 1172.00 in extension. Alternative scenario: below 1160.00 look for further downside with 1154.50 & 1151.00 as targets. Comment: the RSI is mixed to bullish.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Silver spot Intraday: continuation of the rebound.

Pivot: 16.9500 Our preference: long positions above 16.9500 with targets at 17.2400 & 17.3500 in extension. Alternative scenario: below 16.9500 look for further downside with 16.8200 & 16.7300 as targets. Comment: the RSI is mixed with a bullish bias. Prices broke above a broadening wedge pattern (bullish)

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Crude Oil (WTI) (F7) Intraday: under pressure.

Pivot: 53.45 Our preference: short positions below 53.45 with targets at 51.90 & 51.20 in extension. Alternative scenario: above 53.45 look for further upside with 54.50 & 55.00 as targets. Comment: the RSI advocates for further decline.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dax (Eurex) (Z6) Intraday: bullish bias above 11000.00.

Pivot: 11000.00 Our preference: long positions above 11000.00 with targets at 11255.00 & 11400.00 in extension. Alternative scenario: below 11000.00 look for further downside with 10900.00 & 10785.00 as targets. Comment: the RSI lacks downward momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dow Jones (CME) (H7) Intraday: bullish bias above 19635.00.

Pivot: 19635.00 Our preference: long positions above 19635.00 with targets at 19809.00 & 19860.00 in extension. Alternative scenario: below 19635.00 look for further downside with 19530.00 & 19425.00 as targets. Comment: the RSI lacks downward momentum. The 50-period exponential moving average is playing a support role.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Daily Market Update - Friday 09 December 2016

EUR/USD Intraday: under pressure.

Pivot: 1.0635 Our preference: short positions below 1.0635 with targets at 1.0570 & 1.0535 in extension. Alternative scenario: above 1.0635 look for further upside with 1.0680 & 1.0710 as targets. Comment: the RSI broke below a bullish trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/JPY Intraday: further advance.

Pivot: 114.13 Our preference: long positions above 114.13 with targets at 114.75 & 115.00 in extension. Alternative scenario: below 114.13 look for further downside with 113.85 & 113.66 as targets. Comment: the RSI is mixed to bullish.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: key resistance at 1.2605.

Pivot: 1.2605 Our preference: short positions below 1.2605 with targets at 1.2545 & 1.2510 in extension. Alternative scenario: above 1.2605 look for further upside with 1.2655 & 1.2700 as targets. Comment: the upward potential is likely to be limited by the resistance at 1.2605.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Gold spot Intraday: the downside prevails.

Pivot: 1173.50 Our preference: short positions below 1173.50 with targets at 1162.00 & 1157.00 in extension. Alternative scenario: above 1173.50 look for further upside with 1180.00 & 1188.00 as targets. Comment: technically the RSI is below its neutrality area at 50.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Silver spot Intraday: the downside prevails.

Pivot: 17.0300 Our preference: short positions below 17.0300 with targets at 16.8200 & 16.7300 in extension. Alternative scenario: above 17.0300 look for further upside with 17.1100 & 17.2300 as targets. Comment: the RSI is below its neutrality area at 50%

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Crude Oil (WTI) (F7) Intraday: bullish bias above 50.25.

Pivot: 50.25 Our preference: long positions above 50.25 with targets at 51.90 & 52.43 in extension. Alternative scenario: below 50.25 look for further downside with 49.60 & 49.00 as targets. Comment: the RSI is above its neutrality area at 50%.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dax (Eurex) (Z6) Intraday: bullish bias above 10900.00.

Pivot: 10900.00 Our preference: long positions above 10900.00 with targets at 11130.00 & 11230.00 in extension. Alternative scenario: below 10900.00 look for further downside with 10815.00 & 10740.00 as targets. Comment: the RSI is bullish and calls for further advance.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dow Jones (CME) (H7) Intraday: further upside.

Pivot: 19425.00 Our preference: long positions above 19425.00 with targets at 19630.00 & 19750.00 in extension. Alternative scenario: below 19425.00 look for further downside with 19290.00 & 19205.00 as targets. Comment: the RSI lacks downward momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Daily Market Update - Thursday 08 December 2016

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.0735 Our preference: long positions above 1.0735 with targets at 1.0795 & 1.0820 in extension. Alternative scenario: below 1.0735 look for further downside with 1.0700 & 1.0680 as targets. Comment: the RSI is supported by a bullish trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/JPY Intraday: the downside prevails.

Pivot: 113.87 Our preference: short positions below 113.87 with targets at 113.12 & 112.95 in extension. Alternative scenario: above 113.87 look for further upside with 114.40 & 114.75 as targets. Comment: the RSI advocates for further decline.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: further advance.

Pivot: 1.2600 Our preference: long positions above 1.2600 with targets at 1.2695 & 1.2735 in extension. Alternative scenario: below 1.2600 look for further downside with 1.2560 & 1.2515 as targets. Comment: the RSI advocates for further advance.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Gold spot Intraday: further upside.

Pivot: 1171.00 Our preference: long positions above 1171.00 with targets at 1185.00 & 1188.00 in extension. Alternative scenario: below 1171.00 look for further downside with 1165.00 & 1160.50 as targets. Comment: the RSI broke above a bearish trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Silver spot Intraday: further advance.

Pivot: 16.9800 Our preference: long positions above 16.9800 with targets at 17.3700 & 17.5100 in extension. Alternative scenario: below 16.9800 look for further downside with 16.8200 & 16.6200 as targets. Comment: the RSI broke above a declining trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Crude Oil (WTI) (F7) Intraday: under pressure.

Pivot: 51.10 Our preference: short positions below 51.10 with targets at 48.80 & 48.24 in extension. Alternative scenario: above 51.10 look for further upside with 51.60 & 52.40 as targets. Comment: the RSI is capped by a declining trend line.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dax (Eurex) (Z6) Intraday: bullish bias above 10740.00.

Pivot: 10740.00 Our preference: long positions above 10740.00 with targets at 10975.00 & 11055.00 in extension. Alternative scenario: below 10740.00 look for further downside with 10630.00 & 10545.00 as targets. Comment: the RSI is bullish and calls for further advance.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Dow Jones (CME) (Z6) Intraday: bullish bias above 19310.00.

Pivot: 19310.00 Our preference: long positions above 19310.00 with targets at 19630.00 & 19700.00 in extension. Alternative scenario: below 19310.00 look for further downside with 19175.00 & 19085.00 as targets. Comment: the RSI is bullish and calls for further advance.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced