Jiming Huang / Blog
Pivot (invalidation): 0.7355 Our preference Long positions above 0.7355 with targets at 0.7405 & 0.7420 in extension. Alternative scenario Below 0.7355 look for further downside with 0.7335 & 0.7320 as targets...
Pivot (invalidation): 1.2965 Our preference Short positions below 1.2965 with targets at 1.2920 & 1.2900 in extension. Alternative scenario Above 1.2965 look for further upside with 1.2985 & 1.3010 as targets...
Pivot (invalidation): 0.9030 Our preference Short positions below 0.9030 with targets at 0.8965 & 0.8935 in extension. Alternative scenario Above 0.9030 look for further upside with 0.9050 & 0.9070 as targets...
Pivot (invalidation): 104.60 Our preference Short positions below 104.60 with targets at 104.15 & 103.95 in extension. Alternative scenario Above 104.60 look for further upside with 104.75 & 104.90 as targets...
Pivot (invalidation): 1.3385 Our preference Long positions above 1.3385 with targets at 1.3440 & 1.3480 in extension. Alternative scenario Below 1.3385 look for further downside with 1.3360 & 1.3330 as targets...
Pivot (invalidation): 1.2035 Our preference Long positions above 1.2035 with targets at 1.2110 & 1.2150 in extension. Alternative scenario Below 1.2035 look for further downside with 1.2000 & 1.1970 as targets...
In the commodity market, oil prices are declining amid a general uncertainty about the OPEC+ plans regarding the crude production cuts. The OPEC+ delayed talks about production cuts to Thursday, adding to concerns that some members are opposing the continuation of supply cuts beyond January 2021...
US equities declined on Monday, but that didn’t prevent the benchmark S&P 500 index from securing the best November ever. Traders were taking profits after a robust rally fuelled by vaccine optimism. Besides this, stocks took a pause amid deteriorating tensions between the US and China...
Pivot (invalidation): 45.55 Our preference Short positions below 45.55 with targets at 44.40 & 44.00 in extension. Alternative scenario Above 45.55 look for further upside with 46.25 & 46.55 as targets...