UWCFX Daily Technical Levels‏

Daily Technical Levels Monday, July 30, 2012 EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL    EUR/USD intraday: consolidation. Pivot: 1.2390. Our Preference: SHORT positions below 1.239 with 1.224 & 1.217 as next targets. Alternative scenario: The upside penetration of 1.239 will call for a rebound towards 1.244 & 1.247. Comment: as long as 1.239 is resistance, look for choppy price action with a bearish bias. Next     GBP/USD intraday: bullish bias above 1.566 Pivot: 1.5660. Our Preference: LONG positions @ 1.568 with 1.5775 & 1.58 as next targets. Alternative scenario: The downside breakout of 1.566 will open the way to 1.563 & 1.559. Comment: the RSI is around its neutrality area at 50%.  Previous |  Next     USD/CHF intraday: under pressure. Pivot: 0.98. Our Preference: SHORT positions @ 0.98 with 0.968 & 0.965 in sight. Alternative scenario: The upside penetration of 0.981 will call for a rebound towards 0.9865 & 0.989. Comment: the RSI lacks upward momentum.  Previous |  Next     USD/JPY intraday: under pressure. Pivot: 78.65. Our Preference: SHORT positions @ 78.55 with targets @ 78.25 & 78.05. Alternative scenario: The upside breakout of 78.65 will open the way to 78.8 & 78.9. Comment: the RSI is bearish and calls for further downside.  Previous |  Next     AUD/USD intraday: the upside prevails. Pivot: 1.038 Our preference: Long positions above 1.038 with targets @ 1.049 & 1.052 in extension. Alternative scenario: Below 1.038 look for further downside with 1.03 & 1.025 as targets. Comment: technically, the RSI is above its neutrality area at 50.  Previous |  Next     GOLD (Spot) intraday: further advance. Pivot: 1608.00 Our Preference: LONG positions above 1608 with targets @ 1630 & 1640. Alternative scenario: The downside breakout of 1608 will open the way to 1598 & 1589. Comment: a push above 1630 would have strong bullish implications.  Previous |  Next     SILVER (Spot) intraday: the bias remains bullish. Pivot: 27.20 Our Preference: LONG positions above 27.2 with 27.8 & 28 in sight. Alternative scenario: The downside breakout of 27.2 will open the way to 26.8 & 26.6. Comment: intraday support around 27.2  Previous |  Next     Crude Oil (Sep 12) intraday: the bias remains bullish. Pivot: 89.00 Our Preference: LONG positions above 89 with targets @ 90.9 & 91.4. Alternative scenario: The downside penetration of 89 will call for a slide towards 87.75 & 86.75. Comment: a bullish triangle is taking place, calling for a rise towards 91.40.