DAILY MARKET NEWSLETTER 06/02/2024

2024-02-07 04:19
 
 
  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: intraday support around 72.05.
 
Pivot:
72.05
 
Our preference:
Long positions above 72.05 with targets at 73.70 & 74.40 in extension.
 
Alternative scenario:
Below 72.05 look for further downside with 71.50 & 70.75 as targets.
 
Comment:
The next resistances are at 73.70 and then at 74.40.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the downside prevails as long as 43020 is resistance
 
43020 is our pivot point.
 
Our preference:
The downside prevails as long as 43020 is resistance.
 
Alternative scenario:
Above 43020, look for 43770 and 44210.
 
Comment:
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 42860 and 42777).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: under pressure.
 
Pivot:
1.2575
 
Our preference:
Short positions below 1.2575 with targets at 1.2500 & 1.2470 in extension.
 
Alternative scenario:
Above 1.2575 look for further upside with 1.2600 & 1.2630 as targets.
 
Comment:
The RSI calls for a new downleg.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: the downside prevails.
 
Pivot:
1.0765
 
Our preference:
Short positions below 1.0765 with targets at 1.0720 & 1.0700 in extension.
 
Alternative scenario:
Above 1.0765 look for further upside with 1.0785 & 1.0805 as targets.
 
Comment:
As long as the resistance at 1.0765 is not surpassed, the risk of the break below 1.0720 remains high.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: intraday support around 17590.00.
 
Pivot:
17590.00
 
Our preference:
Long positions above 17590.00 with targets at 17770.00 & 17890.00 in extension.
 
Alternative scenario:
Below 17590.00 look for further downside with 17480.00 & 17350.00 as targets.
 
Comment:
The next resistances are at 17770.00 and then at 17890.00.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the downside prevails as long as 2324 is resistance
 
Our pivot point is at 2324.
 
Our preference:
The downside prevails as long as 2324 is resistance.
 
Alternative scenario:
The upside breakout of 2324, would call for 2369 and 2395.
 
Comment:
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2307 and 2301).
 
Analyst Views Chart
 
 
 
 

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