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DAILY MARKET NEWSLETTER 24/04/2024

2024-04-24 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: towards 85.10.

Pivot:

82.40

Our preference:

Long positions above 82.40 with targets at 84.30 & 85.10 in extension.

Alternative scenario:

Below 82.40 look for further downside with 81.80 & 80.90 as targets.

Comment:

The RSI shows upside momentum.

Bitcoin / Dollar intraday: as long as 67870 is resistance look for 63600

Our pivot point is at 67870.

Our preference:

As long as 67870 is resistance look for 63600.

Alternative scenario:

The upside breakout of 67870, would call for 69480 and 70440.

Comment:

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 66499 and 66542).

GBP/USD Intraday: the upside prevails.

Pivot:

1.2390

Our preference:

Long positions above 1.2390 with targets at 1.2480 & 1.2510 in extension.

Alternative scenario:

Below 1.2390 look for further downside with 1.2360 & 1.2330 as targets.

Comment:

The break above 1.2390 is a positive signal that has opened a path to 1.2480.

EUR/USD Intraday: the upside prevails.

Pivot:

1.0670

Our preference:

Long positions above 1.0670 with targets at 1.0715 & 1.0730 in extension.

Alternative scenario:

Below 1.0670 look for further downside with 1.0650 & 1.0625 as targets.

Comment:

The break above 1.0670 is a positive signal that has opened a path to 1.0715.

Nasdaq 100 (CME)‎ (M4)‎ Intraday: further upside.

Pivot:

17550.00

Our preference:

Long positions above 17550.00 with targets at 17770.00 & 17850.00 in extension.

Alternative scenario:

Below 17550.00 look for further downside with 17440.00 & 17300.00 as targets.

Comment:

The RSI calls for a new upleg.

Ether / Dollar intraday: as long as 3152 is support look for 3366

Our pivot point is at 3152.

Our preference:

As long as 3152 is support look for 3366.

Alternative scenario:

The downside breakout of 3152 would call for 3071 and 3022.

Comment:

The RSI is above its neutrality area at 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 3213 and 3200).