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

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