Pivot (invalidation): 0.7040 Our preference Short positions below 0.7040 with targets at 0.7015 & 0.7000 in extension. Alternative scenario Above 0.7040 look for further upside with 0.7055 & 0.7065 as targets. Comment The RSI lacks upward momentum.
Pivot (invalidation): 12225.00 Our preference Long positions above 12225.00 with targets at 12340.00 & 12400.00 in extension. Alternative scenario Below 12225.00 look for further downside with 12160.00 & 12100.00 as targets. Comment The RSI lacks downward momentum.
oil forecast intraday: Pivot (invalidation): 55.85 Our preference Long positions above 55.85 with targets at 56.60 & 57.00 in extension. Alternative scenario Below 55.85 look for further downside with 55.15 & 54.85 as targets. Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.