Our preference: SHORT positions below 1722 with 1709 & 1701 as next targets.
Alternative scenario: The upside breakout of 1722 will open the way to 1728 & 1735.
Comment: the RSI advocates for further downside.
Friday, November 2, 2012
Crude Oil (Dec 12) intraday: the bias remains bullish.
Pivot: 86.10
Our preference: LONG positions above 86.1 with 87.5 & 88.15 as next targets.
Alternative scenario: The downside penetration of 86.1 will call for 85 & 84.4.
Comment: supported by a rising trend line.
Thursday, November 1, 2012
Natural Gas (Dec 12 - NYMEX) ST: as long as 3.47 is support look for 4.22
Our pivot point is at 3.47.
Our preference: as long as 3.47 is support look for 4.22.
Alternative scenario: the downside breakout of 3.47 would call for 3.18 and 3.01.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace in the short term. The price is trading above both its 20 and 50 day MA (respectively at 3.52 and 3.17).
Copper (Dec 12) intraday: the downside prevails.
Pivot: 3.54
Our preference: SHORT positions below 3.54 with 3.505 & 3.48 as next targets.
Alternative scenario: The upside breakout of 3.54 will open the way to 3.565 & 3.59.
Comment: the RSI is mixed and calls for caution.
GOLD (Spot) intraday: the bias remains bullish.
Pivot: 1708.00
Our preference: LONG positions above 1708 with 1730 & 1735 in sight.
Alternative scenario: The downside breakout of 1708 will open the way to 1698 & 1687.
Comment: the RSI is mixed and calls for caution.
SILVER (Spot) intraday: further upside.
Pivot: 31.70
Our preference: LONG positions above 31.7 with targets 2 32.5 & 332.85.
Alternative scenario: The downside penetration of 31.7 will call for 31.24 & 30.95.
Comment: the RSI lacks downward momentum.
Crude Oil (Dec 12) intraday: 87.15 in sight
Pivot: 85.80
Our preference: LONG positions above 85.8 with targets @ 87.15 & 87.5.
Alternative scenario: The downside breakout of 85.8 will open the way to 85 & 84.4.
Comment: the RSI lacks downward momentum.
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USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
