DAILY MARKET NEWSLETTER 26/03/2024

2024-03-26 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)‎ (K4)‎ Intraday: look for 82.60.
 
Pivot:
81.50
 
Our preference:
Long positions above 81.50 with targets at 82.35 & 82.60 in extension.
 
Alternative scenario:
Below 81.50 look for further downside with 80.80 & 80.40 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the RSI is overbought
 
69730 is our pivot point.
 
Our preference:
The upside prevails as long as 69730 is support.
 
Alternative scenario:
Below 69730, expect 68410 and 67630.
 
Comment:
The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 69364 and 67914).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: bullish bias above 1.2610.
 
Pivot:
1.2610
 
Our preference:
Long positions above 1.2610 with targets at 1.2660 & 1.2675 in extension.
 
Alternative scenario:
Below 1.2610 look for further downside with 1.2590 & 1.2575 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: the bias remains bullish.
 
Pivot:
1.0815
 
Our preference:
Long positions above 1.0815 with targets at 1.0850 & 1.0865 in extension.
 
Alternative scenario:
Below 1.0815 look for further downside with 1.0800 & 1.0785 as targets.
 
Comment:
The RSI calls for a bounce.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (M4)‎ Intraday: the downside prevails.
 
Pivot:
18570.00
 
Our preference:
Short positions below 18570.00 with targets at 18460.00 & 18410.00 in extension.
 
Alternative scenario:
Above 18570.00 look for further upside with 18630.00 & 18710.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the upside prevails as long as 3577 is support
 
Our pivot point stands at 3577.
 
Our preference:
The upside prevails as long as 3577 is support.
 
Alternative scenario:
Below 3577, expect 3513 and 3475.
 
Comment:
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3562 and 3494).
 
Analyst Views Chart
 
 
 
 

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