DAILY MARKET NEWSLETTER 25/01/2024

2024-01-28 03:46
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (H4)‎ Intraday: look for 76.30.
 
Pivot:
74.80
 
Our preference:
Long positions above 74.80 with targets at 75.80 & 76.30 in extension.
 
Alternative scenario:
Below 74.80 look for further downside with 74.10 & 73.60 as targets.
 
Comment:
The RSI calls for a new upleg.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the upside prevails as long as 39460 is support
 
39460 is our pivot point.
 
Our preference:
The upside prevails as long as 39460 is support.
 
Alternative scenario:
The downside breakout of 39460 would call for 38770 and 38360.
 
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 trading above both its 20 and 50 period moving average (respectively at 39830 and 39408).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: expect 1.2675.
 
Pivot:
1.2750
 
Our preference:
Short positions below 1.2750 with targets at 1.2695 & 1.2675 in extension.
 
Alternative scenario:
Above 1.2750 look for further upside with 1.2770 & 1.2790 as targets.
 
Comment:
The RSI calls for a drop.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: watch 1.0845.
 
Pivot:
1.0910
 
Our preference:
Short positions below 1.0910 with targets at 1.0865 & 1.0845 in extension.
 
Alternative scenario:
Above 1.0910 look for further upside with 1.0930 & 1.0945 as targets.
 
Comment:
The RSI advocates for further downside.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: under pressure.
 
Pivot:
17720.00
 
Our preference:
Short positions below 17720.00 with targets at 17520.00 & 17410.00 in extension.
 
Alternative scenario:
Above 17720.00 look for further upside with 17790.00 & 17920.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 2205 is support
 
Our pivot point is at 2205.
 
Our preference:
The upside prevails as long as 2205 is support.
 
Alternative scenario:
Below 2205, expect 2162 and 2136.
 
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 trading above both its 20 and 50 period moving average (respectively at 2228 and 2218).
 
Analyst Views Chart
 
 
 
 

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