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DAILY MARKET NEWSLETTER 11/04/2024

2024-04-18 05:22

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Crude Oil (WTI)‎ (K4)‎ Intraday: continuation of the rebound.

Pivot:

85.45

Our preference:

Long positions above 85.45 with targets at 87.00 & 87.60 in extension.

Alternative scenario:

Below 85.45 look for further downside with 84.95 & 84.55 as targets.

Comment:

The RSI is bullish and calls for further upside.

Bitcoin / Dollar intraday: the upside prevails as long as 69310 is support

Our pivot point is at 69310.

Our preference:

The upside prevails as long as 69310 is support.

Alternative scenario:

Below 69310, expect 67710 and 66760.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 69695 and 69262).

GBP/USD Intraday: watch 1.2510.

Pivot:

1.2580

Our preference:

Short positions below 1.2580 with targets at 1.2510 & 1.2480 in extension.

Alternative scenario:

Above 1.2580 look for further upside with 1.2610 & 1.2640 as targets.

Comment:

A break below 1.2510 would trigger a drop towards 1.2480.

EUR/USD Intraday: under pressure.

Pivot:

1.0790

Our preference:

Short positions below 1.0790 with targets at 1.0710 & 1.0680 in extension.

Alternative scenario:

Above 1.0790 look for further upside with 1.0820 & 1.0845 as targets.

Comment:

As long as the resistance at 1.0790 is not surpassed, the risk of the break below 1.0710 remains high.

Nasdaq 100 (CME)‎ (M4)‎ Intraday: the downside prevails.

Pivot:

18260.00

Our preference:

Short positions below 18260.00 with targets at 18050.00 & 17980.00 in extension.

Alternative scenario:

Above 18260.00 look for further upside with 18330.00 & 18410.00 as targets.

Comment:

As long as the resistance at 18260.00 is not surpassed, the risk of the break below 18050.00 remains high.

Ether / Dollar intraday: the upside prevails as long as 3476 is support

Our pivot point is at 3476.

Our preference:

The upside prevails as long as 3476 is support.

Alternative scenario:

Below 3476, expect 3394 and 3344.

Comment:

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3514 and 3511).