DAILY MARKET NEWSLETTER 05/03/2024

2024-04-04 20:57
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (J4)‎ Intraday: the downside prevails.
 
Pivot:
79.30
 
Our preference:
Short positions below 79.30 with targets at 78.55 & 77.90 in extension.
 
Alternative scenario:
Above 79.30 look for further upside with 79.80 & 80.40 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the upside prevails as long as 66360 is support
 
Our pivot point stands at 66360.
 
Our preference:
The upside prevails as long as 66360 is support.
 
Alternative scenario:
Below 66360, expect 65280 and 64640.
 
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 66246 and 64755).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the upside prevails.
 
Pivot:
1.2665
 
Our preference:
Long positions above 1.2665 with targets at 1.2705 & 1.2720 in extension.
 
Alternative scenario:
Below 1.2665 look for further downside with 1.2650 & 1.2635 as targets.
 
Comment:
The RSI calls for a bounce.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: further advance.
 
Pivot:
1.0835
 
Our preference:
Long positions above 1.0835 with targets at 1.0870 & 1.0885 in extension.
 
Alternative scenario:
Below 1.0835 look for further downside with 1.0820 & 1.0805 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: under pressure.
 
Pivot:
18370.00
 
Our preference:
Short positions below 18370.00 with targets at 18150.00 & 18030.00 in extension.
 
Alternative scenario:
Above 18370.00 look for further upside with 18450.00 & 18530.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 3532 is support
 
Our pivot point stands at 3532.
 
Our preference:
The upside prevails as long as 3532 is support.
 
Alternative scenario:
Below 3532, expect 3468 and 3429.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3546 and 3512).
 
Analyst Views Chart
 
 
 
 

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