Jiming Huang / Blog
Pivot (invalidation): 6.8550 Our preference Long positions above 6.8550 with targets at 6.8680 & 6.8750 in extension. Alternative scenario Below 6.8550 look for further downside with 6.8490 & 6.8430 as targets...
Pivot (invalidation): 0.6965 Our preference Short positions below 0.6965 with targets at 0.6920 & 0.6905 in extension. Alternative scenario Above 0.6965 look for further upside with 0.6975 & 0.6990 as targets...
Pivot (invalidation): 1.3570 Our preference Long positions above 1.3570 with targets at 1.3600 & 1.3625 in extension. Alternative scenario Below 1.3570 look for further downside with 1.3545 & 1.3520 as targets...
Pivot (invalidation): 0.9395 Our preference Long positions above 0.9395 with targets at 0.9430 & 0.9445 in extension. Alternative scenario Below 0.9395 look for further downside with 0.9370 & 0.9355 as targets...
Pivot (invalidation): 107.25 Our preference Short positions below 107.25 with targets at 106.90 & 106.75 in extension. Alternative scenario Above 107.25 look for further upside with 107.35 & 107.45 as targets...
Pivot (invalidation): 1.2625 Our preference Short positions below 1.2625 with targets at 1.2560 & 1.2540 in extension. Alternative scenario Above 1.2625 look for further upside with 1.2650 & 1.2670 as targets...
Pivot (invalidation): 1.1300 Our preference Short positions below 1.1300 with targets at 1.1255 & 1.1235 in extension. Alternative scenario Above 1.1300 look for further upside with 1.1315 & 1.1335 as targets...
Meanwhile, demand in safe haven assets is firming with increased inflows in US treasuries, Swiss franc and gold. Gold cleared the $1800 resistance and rallied to $1820 per oz on stops...
Equities in Shanghai (+1.03%) extended gains for the eighth consecutive session, still surfing on the wave of optimism that more central bank and government stimulus is underway to maintain a ‘healthy’ bull market to tackle the Covid-led economic slowdown in China...