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DAILY MARKET NEWSLETTER 19/04/2024

2024-04-19 09:00

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

Crude Oil (WTI)‎ (M4)‎ Intraday: the downside prevails.

Pivot:

82.80

Our preference:

Short positions below 82.80 with targets at 81.05 & 80.50 in extension.

Alternative scenario:

Above 82.80 look for further upside with 83.50 & 84.30 as targets.

Comment:

As long as the resistance at 82.80 is not surpassed, the risk of the break below 81.05 remains high.

Bitcoin / Dollar intraday: as long as 62300 is support look for 66200

Our pivot point is at 62300.

Our preference:

As long as 62300 is support look for 66200.

Alternative scenario:

Below 62300, expect 60790 and 59900.

Comment:

The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 63452 and 62451).

GBP/USD Intraday: watch 1.2420.

Pivot:

1.2460

Our preference:

Short positions below 1.2460 with targets at 1.2420 & 1.2400 in extension.

Alternative scenario:

Above 1.2460 look for further upside with 1.2480 & 1.2500 as targets.

Comment:

A break below 1.2420 would trigger a drop towards 1.2400.

EUR/USD Intraday: watch 1.0630.

Pivot:

1.0660

Our preference:

Short positions below 1.0660 with targets at 1.0630 & 1.0610 in extension.

Alternative scenario:

Above 1.0660 look for further upside with 1.0675 & 1.0690 as targets.

Comment:

A break below 1.0630 would trigger a drop towards 1.0610.

Nasdaq 100 (CME)‎ (M4)‎ Intraday: towards 17300.00.

Pivot:

17640.00

Our preference:

Short positions below 17640.00 with targets at 17400.00 & 17300.00 in extension.

Alternative scenario:

Above 17640.00 look for further upside with 17720.00 & 17770.00 as targets.

Comment:

The RSI has broken down its 30 level.

Ether / Dollar intraday: as long as 3004 is support look for 3203

Our pivot point is at 3004.

Our preference:

As long as 3004 is support look for 3203.

Alternative scenario:

Below 3004, expect 2926 and 2880.

Comment:

The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3064 and 3030).