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DAILY MARKET NEWSLETTER 30/04/2024

2024-04-30 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)‎ (M4)‎ Intraday: key resistance at 83.20.

Pivot:

83.20

Our preference:

Short positions below 83.20 with targets at 82.00 & 81.40 in extension.

Alternative scenario:

Above 83.20 look for further upside with 83.60 & 84.05 as targets.

Comment:

The RSI is below its neutrality area at 50%

Bitcoin / Dollar intraday: as long as 63980 is resistance look for 59940

63980 is our pivot point.

Our preference:

As long as 63980 is resistance look for 59940.

Alternative scenario:

Above 63980, look for 65500 and 66410.

Comment:

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (62683) but below its 50 period moving average (62805).

GBP/USD Intraday: 1.2600 in sight.

Pivot:

1.2535

Our preference:

Long positions above 1.2535 with targets at 1.2580 & 1.2600 in extension.

Alternative scenario:

Below 1.2535 look for further downside with 1.2510 & 1.2490 as targets.

Comment:

The RSI is bullish and calls for further upside.

EUR/USD Intraday: the bias remains bullish.

Pivot:

1.0695

Our preference:

Long positions above 1.0695 with targets at 1.0730 & 1.0750 in extension.

Alternative scenario:

Below 1.0695 look for further downside with 1.0675 & 1.0660 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Nasdaq 100 (CME)‎ (M4)‎ Intraday: aim @ 18050.00.

Pivot:

17790.00

Our preference:

Long positions above 17790.00 with targets at 18050.00 & 18130.00 in extension.

Alternative scenario:

Below 17790.00 look for further downside with 17670.00 & 17580.00 as targets.

Comment:

The next resistances are at 18050.00 and then at 18130.00.

Ether / Dollar intraday: rebound towards 3314

3101 is our pivot point.

Our preference:

Rebound towards 3314.

Alternative scenario:

The downside breakout of 3101 would call for 3021 and 2973.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3169 and 3211).