DAILY MARKET NEWSLETTER 02/04/2024

2024-04-02 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: 85.00 in sight.
 
Pivot:
83.30
 
Our preference:
Long positions above 83.30 with targets at 84.50 & 85.00 in extension.
 
Alternative scenario:
Below 83.30 look for further downside with 82.80 & 82.20 as targets.
 
Comment:
The RSI advocates for further upside.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: technical rebound towards 71050 before a new drop
 
71050 is our pivot point.
 
Our preference:
Technical rebound towards 71050 before a new drop.
 
Alternative scenario:
Above 71050, look for 72580 and 73480.
 
Comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (69211) but under its 50 period moving average (69767).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: key resistance at 1.2575.
 
Pivot:
1.2575
 
Our preference:
Short positions below 1.2575 with targets at 1.2525 & 1.2500 in extension.
 
Alternative scenario:
Above 1.2575 look for further upside with 1.2600 & 1.2625 as targets.
 
Comment:
As long as the resistance at 1.2575 is not surpassed, the risk of the break below 1.2525 remains high.
 
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:
The RSI has broken down its 30 level.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (M4)‎ Intraday: expect 18380.00.
 
Pivot:
18530.00
 
Our preference:
Short positions below 18530.00 with targets at 18425.00 & 18380.00 in extension.
 
Alternative scenario:
Above 18530.00 look for further upside with 18570.00 & 18610.00 as targets.
 
Comment:
The RSI has just struck against its neutrality area at 50% and is reversing down.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: rebound
 
Our pivot point stands at 3444.
 
Our preference:
Rebound.
 
Alternative scenario:
The downside breakout of 3444 would call for 3367 and 3321.
 
Comment:
The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (3480) but under its 50 period moving average (3537).
 
Analyst Views Chart
 
 
 
 

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