Jiming Huang / Blog
Pivot (invalidation): 104.80 Our preference Long positions above 104.80 with targets at 105.20 & 105.40 in extension. Alternative scenario Below 104.80 look for further downside with 104.60 & 104.40 as targets...
Pivot (invalidation): 1.2950 Our preference Short positions below 1.2950 with targets at 1.2875 & 1.2840 in extension. Alternative scenario Above 1.2950 look for further upside with 1.2975 & 1.3005 as targets...
Pivot (invalidation): 1.1795 Our preference Short positions below 1.1795 with targets at 1.1730 & 1.1705 in extension. Alternative scenario Above 1.1795 look for further upside with 1.1820 & 1.1840 as targets...
In the commodity market, oil prices continue the rebound for the fourth session in a row, getting closer to update the September peak. Both Brent and WTI have gained around 0.65% as a new storm is now building close to the US Gulf Coast. Thus, the two crude brands have gained about 10% this week...
US equities declined on Thursday and thus ended up to last Friday levels, losing recent gains. The tech sector was a drag again, as it slumped for a second straight session. Meanwhile, the US reported that weekly jobless claims dropped less than expected while the housing market is slowing down...
Pivot (invalidation): 40.30 Our preference Long positions above 40.30 with targets at 41.75 & 42.25 in extension. Alternative scenario Below 40.30 look for further downside with 39.75 & 39.40 as targets...
Pivot (invalidation): 26.7700 Our preference Long positions above 26.7700 with targets at 27.2000 & 27.4300 in extension. Alternative scenario Below 26.7700 look for further downside with 26.5400 & 26.2600 as targets...
Pivot (invalidation): 1941.00 Our preference Long positions above 1941.00 with targets at 1964.00 & 1974.00 in extension. Alternative scenario Below 1941.00 look for further downside with 1932.00 & 1921.00 as targets...
Pivot (invalidation): 3375.00 Our preference Short positions below 3375.00 with targets at 3310.00 & 3270.00 in extension. Alternative scenario Above 3375.00 look for further upside with 3428.00 & 3452.00 as targets...