DAILY MARKET NEWSLETTER 29/02/2024

2024-02-29 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)‎ (J4)‎ Intraday: consolidation in place.
 
Pivot:
78.95
 
Our preference:
Short positions below 78.95 with targets at 77.80 & 77.20 in extension.
 
Alternative scenario:
Above 78.95 look for further upside with 79.60 & 80.15 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: as long as 59220 is support look for 62110
 
Our pivot point stands at 59220.
 
Our preference:
As long as 59220 is support look for 62110.
 
Alternative scenario:
Below 59220, expect 58260 and 57680.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is trading under its 20 period moving average (60604) but above its 50 period moving average (58743).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the bias remains bullish.
 
Pivot:
1.2635
 
Our preference:
Long positions above 1.2635 with targets at 1.2680 & 1.2695 in extension.
 
Alternative scenario:
Below 1.2635 look for further downside with 1.2620 & 1.2600 as targets.
 
Comment:
The RSI calls for a rebound.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: towards 1.0865.
 
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 1.0795 & 1.0780 as targets.
 
Comment:
The RSI calls for a bounce.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: key resistance at 18040.00.
 
Pivot:
18040.00
 
Our preference:
Short positions below 18040.00 with targets at 17800.00 & 17710.00 in extension.
 
Alternative scenario:
Above 18040.00 look for further upside with 18120.00 & 18240.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the downside prevails as long as 3339 is resistance
 
Our pivot point stands at 3339.
 
Our preference:
The downside prevails as long as 3339 is resistance.
 
Alternative scenario:
The upside breakout of 3339, would call for 3398 and 3433.
 
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 3336 and 3297).
 
Analyst Views Chart
 
 
 
 

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