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DAILY MARKET NEWSLETTER 26/04/2024

2024-04-26 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: further advance.

Pivot:

82.80

Our preference:

Long positions above 82.80 with targets at 84.50 & 85.10 in extension.

Alternative scenario:

Below 82.80 look for further downside with 82.40 & 82.00 as targets.

Comment:

The RSI is bullish and calls for further upside.

Bitcoin / Dollar intraday: as long as 63260 is support look for 67280

Our pivot point is at 63260.

Our preference:

As long as 63260 is support look for 67280.

Alternative scenario:

Below 63260, expect 61700 and 60770.

Comment:

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 64478 and 64205).

GBP/USD Intraday: further advance.

Pivot:

1.2475

Our preference:

Long positions above 1.2475 with targets at 1.2530 & 1.2555 in extension.

Alternative scenario:

Below 1.2475 look for further downside with 1.2450 & 1.2420 as targets.

Comment:

The RSI lacks downward momentum.

EUR/USD Intraday: the upside prevails.

Pivot:

1.0710

Our preference:

Long positions above 1.0710 with targets at 1.0740 & 1.0755 in extension.

Alternative scenario:

Below 1.0710 look for further downside with 1.0695 & 1.0675 as targets.

Comment:

The RSI lacks downward momentum.

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

Pivot:

17590.00

Our preference:

Long positions above 17590.00 with targets at 17950.00 & 18050.00 in extension.

Alternative scenario:

Below 17590.00 look for further downside with 17520.00 & 17410.00 as targets.

Comment:

The RSI is bullish and calls for further upside.

Ether / Dollar intraday: as long as 3093 is support look for 3300

3093 is our pivot point.

Our preference:

As long as 3093 is support look for 3300.

Alternative scenario:

The downside breakout of 3093 would call for 3012 and 2965.

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 below its 20 period moving average (3158) but above its 50 period moving average (3145).