Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you.
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Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out. |
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| Gold Intraday: intraday support around 3575.00. |
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| Pivot: |
| 3575.00 |
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| Our preference: |
| Long positions above 3575.00 with targets at 3618.00 & 3631.00 in extension. |
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| Alternative scenario: |
| Below 3575.00 look for further downside with 3560.00 & 3545.00 as targets. |
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| Comment: |
| The next resistances are at 3618.00 and then at 3631.00. |
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| Silver Intraday: intraday support around 40.80. |
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| Pivot: |
| 40.80 |
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| Our preference: |
| Long positions above 40.80 with targets at 41.20 & 41.45 in extension. |
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| Alternative scenario: |
| Below 40.80 look for further downside with 40.60 & 40.40 as targets. |
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| Comment: |
| The RSI is around its neutrality area at 50% |
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| Crude Oil (WTI) (V5) Intraday: key resistance at 62.35. |
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| Pivot: |
| 62.35 |
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| Our preference: |
| Short positions below 62.35 with targets at 60.90 & 60.45 in extension. |
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| Alternative scenario: |
| Above 62.35 look for further upside with 62.90 & 63.65 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 62.35. |
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| Dollar Index (ICE) Intraday: the downside prevails. |
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| Pivot: |
| 98.10 |
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| Our preference: |
| Short positions below 98.10 with targets at 97.90 & 97.75 in extension. |
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| Alternative scenario: |
| Above 98.10 look for further upside with 98.25 & 98.40 as targets. |
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| Comment: |
| The RSI is bearish and calls for further downside. |
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| EUR/USD intraday : as long as 1.1692 is support look for 1.1779 |
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| Our pivot point is at 1.1692. |
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| Our preference: |
| As long as 1.1692 is support look for 1.1779 |
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| Alternative scenario: |
| Below 1.1692, expect 1.1661 and 1.1642. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is below its 20 period moving average (1.1725) but above its 50 period moving average (1.1691). |
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| SGX FTSE China A50 (Sep5) intraday: our next up target stands at 15062.50 |
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| Our pivot point stands at 14677.50. |
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| Our preference: |
| Our next up target stands at 15062.50. |
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| Alternative scenario: |
| The downside breakout of 14677.50 would call for 14530 and 14442.50. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. SGX FTSE China A50 (Sep5) is trading under its 20 period moving average (14811.70) but above its 50 period moving average (14732.18). |
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Trading Central
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