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DAILY MARKET NEWSLETTER 20/11/2024

2024-11-21 10:17

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

Crude Oil (WTI)‎ (F5)‎ Intraday: the bias remains bullish.

Pivot:

68.50

Our preference:

Long positions above 68.50 with targets at 70.30 & 71.15 in extension.

Alternative scenario:

Below 68.50 look for further downside with 67.85 & 67.30 as targets.

Comment:

The next resistances are at 70.30 and then at 71.15.

Bitcoin / Dollar intraday: the upside prevails as long as 91580 is support

Our pivot point stands at 91580.

Our preference:

The upside prevails as long as 91580 is support.

Alternative scenario:

The downside breakout of 91580 would call for 90020 and 89090.

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 above its 20 and 50 period moving average (respectively at 92566 and 91883).

GBP/USD Intraday: bullish bias above 1.2650.

Pivot:

1.2650

Our preference:

Long positions above 1.2650 with targets at 1.2695 & 1.2720 in extension.

Alternative scenario:

Below 1.2650 look for further downside with 1.2630 & 1.2610 as targets.

Comment:

The RSI advocates for further upside.

EUR/USD Intraday: further upside.

Pivot:

1.0570

Our preference:

Long positions above 1.0570 with targets at 1.0620 & 1.0640 in extension.

Alternative scenario:

Below 1.0570 look for further downside with 1.0550 & 1.0530 as targets.

Comment:

The RSI is bullish and calls for further advance.

Nasdaq 100 (CME)‎ (Z4)‎ Intraday: further advance.

Pivot:

20590.00

Our preference:

Long positions above 20590.00 with targets at 20890.00 & 20960.00 in extension.

Alternative scenario:

Below 20590.00 look for further downside with 20500.00 & 20390.00 as targets.

Comment:

The RSI is above its neutrality area at 50%.