DAILY MARKET NEWSLETTER 18/04/2024

2024-04-18 16:34
 
 
  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: under pressure.
 
Pivot:
84.00
 
Our preference:
Short positions below 84.00 with targets at 81.90 & 81.00 in extension.
 
Alternative scenario:
Above 84.00 look for further upside with 84.80 & 85.40 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: rebound towards 63800
 
Our pivot point is at 59610.
 
Our preference:
Rebound towards 63800.
 
Alternative scenario:
The downside breakout of 59610 would call for 58170 and 57310.
 
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 is trading under both its 20 and 50 period moving average (respectively at 61654 and 62877).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: rebound.
 
Pivot:
1.2420
 
Our preference:
Long positions above 1.2420 with targets at 1.2480 & 1.2500 in extension.
 
Alternative scenario:
Below 1.2420 look for further downside with 1.2400 & 1.2380 as targets.
 
Comment:
The RSI calls for a rebound.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: further advance.
 
Pivot:
1.0645
 
Our preference:
Long positions above 1.0645 with targets at 1.0685 & 1.0700 in extension.
 
Alternative scenario:
Below 1.0645 look for further downside with 1.0625 & 1.0605 as targets.
 
Comment:
The break above 1.0645 is a positive signal that has opened a path to 1.0685.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (M4)‎ Intraday: watch 17500.00.
 
Pivot:
17790.00
 
Our preference:
Short positions below 17790.00 with targets at 17590.00 & 17500.00 in extension.
 
Alternative scenario:
Above 17790.00 look for further upside with 17950.00 & 18120.00 as targets.
 
Comment:
The RSI calls for a new downleg.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: rebound towards 3143
 
Our pivot point stands at 2924.
 
Our preference:
Rebound towards 3143.
 
Alternative scenario:
Below 2924, expect 2848 and 2804.
 
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 is trading under both its 20 and 50 period moving average (respectively at 3010 and 3056).
 
Analyst Views Chart
 
 
 
 

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