Daily Technical Strategies(2016.01.19)

Daily Technical Strategies(2016.01.19)

Source: ETX Capital (Review and Forex Rebates Up to 85%)

FTSE 100 (NYSE Liffe) (H6) Intraday: the downside prevails.

Pivot: 5845

Our preference: short positions below 5845 with targets @ 5680 & 5640 in extension.

Alternative scenario: above 5845 look for further upside with 5900 & 5960 as targets.

Comment: as long as 5845 is resistance, look for choppy price action with a bearish bias.

Dax (Eurex) (H6) Intraday: the downside prevails.

Pivot: 9720

Our preference: short positions below 9720 with targets @ 9410 & 9255 in extension.

Alternative scenario: above 9720 look for further upside with 9945 & 10165 as targets.

Comment: the RSI lacks upward momentum.

Dow Jones (CME) (H6) Intraday: the downside prevails.

Pivot: 16185

Our preference: short positions below 16185 with targets @ 15750 & 15670 in extension.

Alternative scenario: above 16185 look for further upside with 16390 & 16530 as targets.

Comment: the upward potential is likely to be limited by the resistance at 16185.