DAILY MARKET NEWSLETTER 09/02/2024

2024-02-09 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: intraday support around 75.50.
 
Pivot:
75.50
 
Our preference:
Long positions above 75.50 with targets at 77.30 & 78.10 in extension.
 
Alternative scenario:
Below 75.50 look for further downside with 74.50 & 73.65 as targets.
 
Comment:
The next resistances are at 77.30 and then at 78.10.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the upside prevails as long as 44800 is support
 
Our pivot point is at 44800.
 
Our preference:
The upside prevails as long as 44800 is support.
 
Alternative scenario:
Below 44800, expect 44060 and 43610.
 
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 45100 and 44735).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: bullish bias above 1.2590.
 
Pivot:
1.2590
 
Our preference:
Long positions above 1.2590 with targets at 1.2635 & 1.2655 in extension.
 
Alternative scenario:
Below 1.2590 look for further downside with 1.2570 & 1.2550 as targets.
 
Comment:
The RSI calls for a rebound.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: the bias remains bullish.
 
Pivot:
1.0755
 
Our preference:
Long positions above 1.0755 with targets at 1.0790 & 1.0805 in extension.
 
Alternative scenario:
Below 1.0755 look for further downside with 1.0740 & 1.0725 as targets.
 
Comment:
The RSI calls for a bounce.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: intraday support around 17790.00.
 
Pivot:
17790.00
 
Our preference:
Long positions above 17790.00 with targets at 17940.00 & 18000.00 in extension.
 
Alternative scenario:
Below 17790.00 look for further downside with 17710.00 & 17630.00 as targets.
 
Comment:
The next resistances are at 17940.00 and then at 18000.00.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: under pressure below 2466
 
Our pivot point stands at 2466.
 
Our preference:
Under pressure below 2466.
 
Alternative scenario:
The upside breakout of 2466, would call for 2511 and 2538.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2429 and 2428).
 
Analyst Views Chart
 
 
 
 

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