DAILY MARKET NEWSLETTER 03/11/2023

2024-04-01 02:38
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Bitcoin / Dollar intraday: rebound towards 35700
 
Our pivot point stands at 34500.
 
Our preference:
Rebound towards 35700.
 
Alternative scenario:
Below 34500, expect 34070 and 33810.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 34937 and 35214).
 
Analyst Views Chart
 
 
 
 
 
Crude Oil (WTI)‎ (Z3)‎ Intraday: bullish bias above 81.50.
 
Pivot:
81.50
 
Our preference:
Long positions above 81.50 with targets at 83.40 & 84.20 in extension.
 
Alternative scenario:
Below 81.50 look for further downside with 80.90 & 80.30 as targets.
 
Comment:
The RSI advocates for further advance.
 
Analyst Views Chart
 
 
 
 
 
Gold Intraday: key resistance at 1991.00.
 
Pivot:
1991.00
 
Our preference:
Short positions below 1991.00 with targets at 1978.00 & 1970.00 in extension.
 
Alternative scenario:
Above 1991.00 look for further upside with 1998.00 & 2005.00 as targets.
 
Comment:
As long as 1991.00 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (Z3)‎ Intraday: the bias remains bullish.
 
Pivot:
14870.00
 
Our preference:
Long positions above 14870.00 with targets at 15050.00 & 15150.00 in extension.
 
Alternative scenario:
Below 14870.00 look for further downside with 14780.00 & 14700.00 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: key resistance at 1.0640.
 
Pivot:
1.0640
 
Our preference:
Short positions below 1.0640 with targets at 1.0600 & 1.0575 in extension.
 
Alternative scenario:
Above 1.0640 look for further upside with 1.0665 & 1.0685 as targets.
 
Comment:
The RSI shows downside momentum.
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the bias remains bullish.
 
Pivot:
1.2165
 
Our preference:
Long positions above 1.2165 with targets at 1.2210 & 1.2225 in extension.
 
Alternative scenario:
Below 1.2165 look for further downside with 1.2145 & 1.2125 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: rebound towards 1844
 
Our pivot point is at 1785.
 
Our preference:
Rebound towards 1844.
 
Alternative scenario:
Below 1785, expect 1764 and 1752.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1814 and 1833).
 
Analyst Views Chart
 
 
 
 

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