DAILY MARKET NEWSLETTER 05/01/2024

2024-03-28 04:33
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (G4)‎ Intraday: intraday support around 71.30.
 
Pivot:
71.30
 
Our preference:
Long positions above 71.30 with targets at 73.20 & 74.00 in extension.
 
Alternative scenario:
Below 71.30 look for further downside with 70.35 & 69.30 as targets.
 
Comment:
The RSI is below its neutrality area at 50% but reversing up.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the upside prevails as long as 43550 is support
 
Our pivot point stands at 43550.
 
Our preference:
The upside prevails as long as 43550 is support.
 
Alternative scenario:
The downside breakout of 43550 would call for 42870 and 42460.
 
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 43807 and 43300).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the bias remains bullish.
 
Pivot:
1.2655
 
Our preference:
Long positions above 1.2655 with targets at 1.2705 & 1.2725 in extension.
 
Alternative scenario:
Below 1.2655 look for further downside with 1.2635 & 1.2615 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: bullish bias above 1.0920.
 
Pivot:
1.0920
 
Our preference:
Long positions above 1.0920 with targets at 1.0970 & 1.0990 in extension.
 
Alternative scenario:
Below 1.0920 look for further downside with 1.0900 & 1.0880 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: key resistance at 16650.00.
 
Pivot:
16650.00
 
Our preference:
Short positions below 16650.00 with targets at 16320.00 & 16220.00 in extension.
 
Alternative scenario:
Above 16650.00 look for further upside with 16740.00 & 16875.00 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 2247 is support
 
2247 is our pivot point.
 
Our preference:
The upside prevails as long as 2247 is support.
 
Alternative scenario:
Below 2247, expect 2204 and 2178.
 
Comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2263 and 2239).
 
Analyst Views Chart
 
 
 
 

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