Jiming Huang / Profil

On the economic data front China Sept manufacturing PMI recovered but remained in contraction territory. An official gauge of China's factory activity manufacturing PMI rebounded to 49.8 in September from 49.5 in August. New export orders, a reliable indicator of external demand, increased to 48...

Risk assets pulled back modestly at the start of the trading week. Political turbulence in US, China, UK and Middle East has come at a time when the global growth outlook appears fragile. Asian equity markets are mixed although skewed slightly to the downside...

Pivot (invalidation): 56.55 Our preference Short positions below 56.55 with targets at 55.70 & 55.35 in extension. Alternative scenario...

Pivot (invalidation): 17.6200 Our preference Short positions below 17.6200 with targets at 17.2800 & 17.0600 in extension...

Pivot (invalidation): 1500.00 Our preference Short positions below 1500.00 with targets at 1486.50 & 1482.00 in extension. Alternative scenario...

Pivot (invalidation): 2945.00 Our preference Long positions above 2945.00 with targets at 2976.50 & 2989.00 in extension. Alternative scenario...

Pivot (invalidation): 12325.00 Our preference Long positions above 12325.00 with targets at 12400.00 & 12465.00 in extension. Alternative scenario...

Pivot (invalidation): 5.6730 Our preference Short positions below 5.6730 with targets at 5.6520 & 5.6400 in extension. Alternative scenario...

Pivot (invalidation): 0.6770 Our preference Short positions below 0.6770 with targets at 0.6745 & 0.6735 in extension. Alternative scenario...

Pivot (invalidation): 1.3250 Our preference Short positions below 1.3250 with targets at 1.3230 & 1.3210 in extension. Alternative scenario...

Pivot (invalidation): 0.9920 Our preference Short positions below 0.9920 with targets at 0.9895 & 0.9885 in extension. Alternative scenario...

Pivot (invalidation): 107.80 Our preference Long positions above 107.80 with targets at 108.05 & 108.20 in extension. Alternative scenario...

Pivot (invalidation): 1.2310 Our preference Short positions below 1.2310 with targets at 1.2270 & 1.2240 in extension. Alternative scenario...

Pivot (invalidation): 1.0945 Our preference Short positions below 1.0945 with targets at 1.0915 & 1.0905 in extension. Alternative scenario...

Things have turned for oil, which is set for the second weekly loss of the month. The impressive price appreciation that brought oil prices up by over 14% in three days following the presumed Iran attacks on Saudi Aramco oil facilities that caused a production drop by over 50% or 5...

Markets are mixed with clear drivers lacking. S&P 500 rebounded marginally on positive trade news. Yet Asian trading has been more tentative. Thursday Chinas top diplomat stated that China was willing to purchase additional US products and trade discussion would yields results...

o Pivot (invalidation): 56.60 Our preference Short positions below 56.60 with targets at 55.80 & 55.40 in extension...

Pivot (invalidation): 17.9600 Our preference Short positions below 17.9600 with targets at 17.7100 & 17.5700 in extension. Alternative scenario...

Pivot (invalidation): 1511.00 Our preference Short positions below 1511.00 with targets at 1500.00 & 1497.00 in extension. Alternative scenario...

Pivot (invalidation): 2967.00 Our preference Long positions above 2967.00 with targets at 3006.00 & 3022.00 in extension. Alternative scenario...