Jiming Huang / Perfil

The global risk rally was boosted on Friday by surprise increase in US nonfarm payrolls, talks of a merger between two pharmaceutic giants, AstraZeneca and Gilead fighting against the coronavirus, and the agreement among the OPEC+ countries to extend the historical production cut by a month...

Pivot (invalidation): 38.85 Our preference Long positions above 38.85 with targets at 40.45 & 41.05 in extension. Alternative scenario Below 38.85 look for further downside with 38.15 & 37.60 as targets...

Pivot (invalidation): 17.5900 Our preference Short positions below 17.5900 with targets at 17.3400 & 17.2000 in extension. Alternative scenario Above 17.5900 look for further upside with 17.7500 & 17.8500 as targets...

Pivot (invalidation): 1701.00 Our preference Short positions below 1701.00 with targets at 1676.00 & 1668.00 in extension. Alternative scenario Above 1701.00 look for further upside with 1712.00 & 1722.00 as targets...

Pivot (invalidation): 3162.00 Our preference Long positions above 3162.00 with targets at 3210.00 & 3251.00 in extension. Alternative scenario Below 3162.00 look for further downside with 3128.00 & 3090.00 as targets...

Pivot (invalidation): 12600.00 Our preference Long positions above 12600.00 with targets at 13000.00 & 13220.00 in extension. Alternative scenario Below 12600.00 look for further downside with 12325.00 & 12133.00 as targets...

Pivot (invalidation): 6.7430 Our preference Long positions above 6.7430 with targets at 6.7840 & 6.8000 in extension. Alternative scenario Below 6.7430 look for further downside with 6.7170 & 6.6930 as targets...

Pivot (invalidation): 0.6955 Our preference Long positions above 0.6955 with targets at 0.7000 & 0.7015 in extension. Alternative scenario Below 0.6955 look for further downside with 0.6925 & 0.6900 as targets...

Pivot (invalidation): 1.3445 Our preference Short positions below 1.3445 with targets at 1.3385 & 1.3355 in extension. Alternative scenario Above 1.3445 look for further upside with 1.3470 & 1.3500 as targets...

Pivot (invalidation): 0.9600 Our preference Long positions above 0.9600 with targets at 0.9630 & 0.9650 in extension. Alternative scenario Below 0.9600 look for further downside with 0.9580 & 0.9560 as targets...

Pivot (invalidation): 109.75 Our preference Short positions below 109.75 with targets at 109.15 & 108.85 in extension. Alternative scenario Above 109.75 look for further upside with 110.00 & 110.20 as targets...

Pivot (invalidation): 1.2675 Our preference Long positions above 1.2675 with targets at 1.2735 & 1.2765 in extension. Alternative scenario Below 1.2675 look for further downside with 1.2645 & 1.2615 as targets...

Pivot (invalidation): 1.1270 Our preference Long positions above 1.1270 with targets at 1.1320 & 1.1340 in extension. Alternative scenario Below 1.1270 look for further downside with 1.1230 & 1.1195 as targets...

In Europe, however, more monetary stimulus gave a decent boost to the single currency. Though the worse-than-expected slump in German factory orders triggered a soft kneejerk sell-off this morning...

There is finally some questioning among investors that the latest equity rally may have gone too far and a part of gains may be unfounded due to weak economic data, rising political unrest in US and Hong Kong and tenser trade relations between the US and China...

Pivot (invalidation): 36.50 Our preference Long positions above 36.50 with targets at 38.15 & 38.75 in extension. Alternative scenario Below 36.50 look for further downside with 35.90 & 35.55 as targets...

Pivot (invalidation): 17.5300 Our preference Long positions above 17.5300 with targets at 17.8500 & 17.9900 in extension. Alternative scenario Below 17.5300 look for further downside with 17.4400 & 17.3400 as targets...

Pivot (invalidation): 1705.00 Our preference Long positions above 1705.00 with targets at 1722.00 & 1732.00 in extension. Alternative scenario Below 1705.00 look for further downside with 1696.00 & 1687.00 as targets...

Pivot (invalidation): 3081.00 Our preference Long positions above 3081.00 with targets at 3145.00 & 3183.00 in extension. Alternative scenario Below 3081.00 look for further downside with 3030.00 & 3000.00 as targets...

Pivot (invalidation): 12268.00 Our preference Long positions above 12268.00 with targets at 12590.00 & 12800.00 in extension. Alternative scenario Below 12268.00 look for further downside with 12133.00 & 12020.00 as targets...