DAILY MARKET NEWSLETTER 02/02/2024

2024-02-02 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)‎ (H4)‎ Intraday: under pressure.
 
Pivot:
74.80
 
Our preference:
Short positions below 74.80 with targets at 73.40 & 72.70 in extension.
 
Alternative scenario:
Above 74.80 look for further upside with 75.45 & 76.00 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the upside prevails as long as 42440 is support
 
Our pivot point stands at 42440.
 
Our preference:
The upside prevails as long as 42440 is support.
 
Alternative scenario:
Below 42440, expect 41680 and 41230.
 
Comment:
The RSI is above 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 42626 and 42403).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: 1.2800 in sight.
 
Pivot:
1.2690
 
Our preference:
Long positions above 1.2690 with targets at 1.2770 & 1.2800 in extension.
 
Alternative scenario:
Below 1.2690 look for further downside with 1.2655 & 1.2625 as targets.
 
Comment:
The RSI advocates for further upside.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: further advance.
 
Pivot:
1.0830
 
Our preference:
Long positions above 1.0830 with targets at 1.0900 & 1.0930 in extension.
 
Alternative scenario:
Below 1.0830 look for further downside with 1.0805 & 1.0780 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: aim @ 17670.00.
 
Pivot:
17480.00
 
Our preference:
Long positions above 17480.00 with targets at 17670.00 & 17730.00 in extension.
 
Alternative scenario:
Below 17480.00 look for further downside with 17350.00 & 17250.00 as targets.
 
Comment:
The break above 17480.00 is a positive signal that has opened a path to 17670.00.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 2265 is support
 
Our pivot point stands at 2265.
 
Our preference:
The upside prevails as long as 2265 is support.
 
Alternative scenario:
Below 2265, expect 2220 and 2194.
 
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 2288 and 2277).
 
Analyst Views Chart
 
 
 
 

More

See more
load