DAILY MARKET NEWSLETTER 01/11/2023

2024-02-04 15:00
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Bitcoin / Dollar intraday: the upside prevails as long as 34270 is support
 
34270 is our pivot point.
 
Our preference:
The upside prevails as long as 34270 is support.
 
Alternative scenario:
The downside breakout of 34270 would call for 33850 and 33590.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 34405 and 34394).
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (Z3)‎ Intraday: intraday support around 14400.00.
 
Pivot:
14400.00
 
Our preference:
Long positions above 14400.00 with targets at 14520.00 & 14600.00 in extension.
 
Alternative scenario:
Below 14400.00 look for further downside with 14310.00 & 14220.00 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
Crude Oil (WTI)‎ (Z3)‎ Intraday: key resistance at 81.95.
 
Pivot:
81.95
 
Our preference:
Short positions below 81.95 with targets at 80.75 & 80.20 in extension.
 
Alternative scenario:
Above 81.95 look for further upside with 82.80 & 83.35 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
Gold Intraday: the downside prevails.
 
Pivot:
1993.00
 
Our preference:
Short positions below 1993.00 with targets at 1978.00 & 1971.00 in extension.
 
Alternative scenario:
Above 1993.00 look for further upside with 2000.00 & 2007.00 as targets.
 
Comment:
The RSI calls for a new downleg.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: under pressure.
 
Pivot:
1.0610
 
Our preference:
Short positions below 1.0610 with targets at 1.0555 & 1.0535 in extension.
 
Alternative scenario:
Above 1.0610 look for further upside with 1.0630 & 1.0650 as targets.
 
Comment:
The RSI calls for a new downleg.
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: choppy.
 
Pivot:
1.2170
 
Our preference:
Short positions below 1.2170 with targets at 1.2120 & 1.2105 in extension.
 
Alternative scenario:
Above 1.2170 look for further upside with 1.2185 & 1.2220 as targets.
 
Comment:
As long as 1.2170 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 1795 is support
 
1795 is our pivot point.
 
Our preference:
The upside prevails as long as 1795 is support.
 
Alternative scenario:
Below 1795, expect 1775 and 1763.
 
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 1803 and 1803).
 
Analyst Views Chart
 
 
 
 

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