Jiming Huang / Blog
Pivot (invalidation): 12030.00 Our preference Long positions above 12030.00 with targets at 12178.00 & 12230.00 in extension. Alternative scenario Below 12030.00 look for further downside with 11955.00 & 11880.00 as targets...
Pivot (invalidation): 6.0400 Our preference Short positions below 6.0400 with targets at 5.9390 & 5.8680 in extension. Alternative scenario Above 6.0400 look for further upside with 6.0890 & 6.1390 as targets...
Pivot (invalidation): 0.6995 Our preference Short positions below 0.6995 with targets at 0.6965 & 0.6945 in extension. Alternative scenario Above 0.6995 look for further upside with 0.7010 & 0.7025 as targets...
Pivot (invalidation): 1.3405 Our preference Long positions above 1.3405 with targets at 1.3445 & 1.3475 in extension. Alternative scenario Below 1.3405 look for further downside with 1.3375 & 1.3350 as targets...
Pivot (invalidation): 1.0130 Our preference Short positions below 1.0130 with targets at 1.0090 & 1.0070 in extension. Alternative scenario Above 1.0130 look for further upside with 1.0145 & 1.0160 as targets...
Pivot (invalidation): 110.05 Our preference Short positions below 110.05 with targets at 109.50 & 109.30 in extension. Alternative scenario Above 110.05 look for further upside with 110.30 & 110.55 as targets...
Pivot (invalidation): 1.2990 Our preference Long positions above 1.2990 with targets at 1.3035 & 1.3055 in extension. Alternative scenario Below 1.2990 look for further downside with 1.2970 & 1.2945 as targets...
Pivot (invalidation): 1.1225 Our preference Long positions above 1.1225 with targets at 1.1240 & 1.1255 in extension. Alternative scenario Below 1.1225 look for further downside with 1.1210 & 1.1190 as targets...
WTI is now building a base above the $60 handle. Looking forward we anticipated that crude oil will continue to firm over the summer. Our expectation for tighter market conditions is based on demand from US summers driving season and low gasoline inventories...