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DAILY MARKET NEWSLETTER 18/06/2024

2024-06-20 05:28

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Crude Oil (WTI)‎ (Q4)‎ Intraday: the upside prevails.

Pivot:

79.20

Our preference:

Long positions above 79.20 with targets at 80.50 & 81.00 in extension.

Alternative scenario:

Below 79.20 look for further downside with 78.70 & 78.20 as targets.

Comment:

The RSI is bullish and calls for further upside.

Bitcoin / Dollar intraday: the upside prevails as long as 65760 is support

Our pivot point stands at 65760.

Our preference:

The upside prevails as long as 65760 is support.

Alternative scenario:

Below 65760, expect 64640 and 63980.

Comment:

The RSI is above its neutrality area at 50. 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 65909 and 66183).

GBP/USD Intraday: rebound.

Pivot:

1.2680

Our preference:

Long positions above 1.2680 with targets at 1.2725 & 1.2750 in extension.

Alternative scenario:

Below 1.2680 look for further downside with 1.2655 & 1.2635 as targets.

Comment:

The break above 1.2680 is a positive signal that has opened a path to 1.2725.

EUR/USD Intraday: continuation of the rebound.

Pivot:

1.0705

Our preference:

Long positions above 1.0705 with targets at 1.0755 & 1.0780 in extension.

Alternative scenario:

Below 1.0705 look for further downside with 1.0685 & 1.0665 as targets.

Comment:

The RSI advocates for further advance.

Nasdaq 100 (CME)‎ (U4)‎ Intraday: intraday support around 20120.00.

Pivot:

20120.00

Our preference:

Long positions above 20120.00 with targets at 20300.00 & 20400.00 in extension.

Alternative scenario:

Below 20120.00 look for further downside with 20050.00 & 19930.00 as targets.

Comment:

The RSI is above its neutrality area at 50%.

Ether / Dollar intraday: rebound

Our pivot point stands at 3488.

Our preference:

Rebound.

Alternative scenario:

The downside breakout of 3488 would call for 3409 and 3363.

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 stands above its 20 period moving average (3524) but below its 50 period moving average (3561).