DAILY MARKET NEWSLETTER 29/03/2024

2024-03-29 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: intraday support around 81.00.
 
Pivot:
81.00
 
Our preference:
Long positions above 81.00 with targets at 82.25 & 82.65 in extension.
 
Alternative scenario:
Below 81.00 look for further downside with 80.55 & 80.00 as targets.
 
Comment:
The next resistances are at 82.25 and then at 82.65.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the downside prevails as long as 70150 is resistance
 
Our pivot point stands at 70150.
 
Our preference:
The downside prevails as long as 70150 is resistance.
 
Alternative scenario:
The upside breakout of 70150, would call for 71650 and 72540.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 69419 and 69857).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the downside prevails.
 
Pivot:
1.2640
 
Our preference:
Short positions below 1.2640 with targets at 1.2600 & 1.2580 in extension.
 
Alternative scenario:
Above 1.2640 look for further upside with 1.2655 & 1.2670 as targets.
 
Comment:
As long as the resistance at 1.2640 is not surpassed, the risk of the break below 1.2600 remains high.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: capped by a negative trend line.
 
Pivot:
1.0830
 
Our preference:
Short positions below 1.0830 with targets at 1.0800 & 1.0785 in extension.
 
Alternative scenario:
Above 1.0830 look for further upside with 1.0845 & 1.0860 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (M4)‎ Intraday: bullish bias above 18380.00.
 
Pivot:
18380.00
 
Our preference:
Long positions above 18380.00 with targets at 18570.00 & 18620.00 in extension.
 
Alternative scenario:
Below 18380.00 look for further downside with 18280.00 & 18230.00 as targets.
 
Comment:
The RSI shows upside momentum.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the downside prevails as long as 3569 is resistance
 
Our pivot point stands at 3569.
 
Our preference:
The downside prevails as long as 3569 is resistance.
 
Alternative scenario:
The upside breakout of 3569, would call for 3644 and 3689.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3533 and 3568).
 
Analyst Views Chart
 
 
 
 

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