USD Trading Outlook (11-05-2016)
Soybeans (CME) (N6) Intraday: up turn
Pivot: 1047.00
Our preference: long positions above 1047.00 with targets @ 1100.00 & 1118.00 in extension.
Alternative scenario: below 1047.00 look for further downside with 1027.75 & 1011.00 as targets.
Comment: the immediate trend remains up and the momentum is strong.
Supports and resistances:
1130.00 **
1118.00 **
1100.00 ***
1080.25 Last
1047.00 ***
1027.75 **
1011.00 **
Crude Oil (WTI) (M6) Intraday: bullish bias above 43.00
Pivot: 43.00
Our preference: long positions above 43.00 with targets @ 45.10 & 45.78 in extension.
Alternative scenario: below 43.00 look for further downside with 42.50 & 41.95 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
46.08
45.78
45.10
44.56 Last
43.00
42.50
41.95
