Daily Technical Strategies (2016.05.06)

Daily Technical Strategies – FTSE 100 (NYSE Liffe) (M6) Intraday: the downside prevails.

Pivot: 6130.00

Our preference: short positions below 6130.00 with targets @ 6045.00 & 6025.00 in extension.

Alternative scenario: above 6130.00 look for further upside with 6180.00 & 6213.00 as targets.

Comment: the RSI is around its neutrality area at 50%

Dax (Eurex) (M6) Intraday: the downside prevails.

Pivot: 9940.00

Our preference: short positions below 9940.00 with targets @ 9725.00 & 9645.00 in extension.

Alternative scenario: above 9940.00 look for further upside with 10090.00 & 10150.00 as targets.

Comment: the RSI is capped by a declining trend line.

Dow Jones (CME) (M6) Intraday: the downside prevails.

Pivot: 17680.00

Our preference: short positions below 17680.00 with targets @ 17460.00 & 17420.00 in extension.

Alternative scenario: above 17680.00 look for further upside with 17720.00 & 17830.00 as targets.

Comment: the RSI is bearish and calls for further decline.

EUR/USD Intraday: the downside prevails.

Pivot: 1.1445

Our preference: short positions below 1.1445 with targets @ 1.1370 & 1.1310 in extension.

Alternative scenario: above 1.1445 look for further upside with 1.1480 & 1.1510 as targets.

Comment: the RSI is mixed to bearish.

GBP/USD Intraday: key resistance at 1.4530.

Pivot: 1.4530

Our preference: short positions below 1.4530 with targets @ 1.4440 & 1.4400 in extension.

Alternative scenario: above 1.4530 look for further upside with 1.4575 & 1.4620 as targets.

Comment: the RSI is mixed to bearish.

Gold spot Intraday: under pressure.

Pivot: 1289.70

Our preference: short positions below 1289.70 with targets @ 1264.00 & 1253.00 in extension.

Alternative scenario: above 1289.70 look for further upside with 1301.50 & 1314.00 as targets.

Comment: the RSI is mixed with a bearish bias.

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