Daily Technical Analysis – 19 January, 2018

Our preference: long positions above 1.2220 with targets at 1.2295 & 1.2325 in extension.

Alternative scenario: below 1.2220 look for further downside with 1.2195 & 1.2160 as targets.

Comment: the RSI lacks downward momentum.

Our preference: short positions below 0.9610 with targets at 0.9530 & 0.9490 in extension.

Alternative scenario: above 0.9610 look for further upside with 0.9650 & 0.9670 as targets.

Comment: the RSI lacks upward momentum.

Our preference: short positions below 111.10 with targets at 110.50 & 110.20 in extension.

Alternative scenario: above 111.10 look for further upside with 111.45 & 111.70 as targets.

Comment: the RSI is mixed to bearish.

Our preference: long positions above 1.3850 with targets at 1.3945 & 1.4000 in extension.

Alternative scenario: below 1.3850 look for further downside with 1.3820 & 1.3775 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 0.7975 with targets at 0.8040 & 0.8065 in extension.

Alternative scenario: below 0.7975 look for further downside with 0.7940 & 0.7920 as targets.

Comment: the RSI lacks downward momentum.

Our preference: short positions below 1.2470 with targets at 1.2395 & 1.2365 in extension.

Alternative scenario: above 1.2470 look for further upside with 1.2510 & 1.2540 as targets.

Comment: the RSI lacks upward momentum.

Our preference: long positions above 1330.00 with targets at 1340.00 & 1345.00 in extension.

Alternative scenario: below 1330.00 look for further downside with 1325.00 & 1322.50 as targets.

Comment: the RSI broke above a bearish trend line.

Our preference: short positions below 63.75 with targets at 63.10 & 62.85 in extension.

Alternative scenario: above 63.75 look for further upside with 64.10 & 64.30 as targets.

Comment: as long as 63.75 is resistance, look for choppy price action with a bearish bias. Crude oil broke below the triangle pattern.