DAILY MARKET NEWSLETTER 20/12/2024

2024-12-21 13:47
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (G5)‎ Intraday: the downside prevails.
 
Pivot:
69.80
 
Our preference:
Short positions below 69.80 with targets at 68.80 & 68.35 in extension.
 
Alternative scenario:
Above 69.80 look for further upside with 70.40 & 70.80 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the downside prevails as long as 98520 is resistance
 
Our pivot point is at 98520.
 
Our preference:
The downside prevails as long as 98520 is resistance.
 
Alternative scenario:
The upside breakout of 98520, would call for 100240 and 101260.
 
Comment:
The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100072 and 100651).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the downside prevails.
 
Pivot:
1.2580
 
Our preference:
Short positions below 1.2580 with targets at 1.2440 & 1.2385 in extension.
 
Alternative scenario:
Above 1.2580 look for further upside with 1.2620 & 1.2670 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: under pressure.
 
Pivot:
1.0420
 
Our preference:
Short positions below 1.0420 with targets at 1.0330 & 1.0295 in extension.
 
Alternative scenario:
Above 1.0420 look for further upside with 1.0465 & 1.0495 as targets.
 
Comment:
A break below 1.0330 would trigger a drop towards 1.0295.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H5)‎ Intraday: choppy.
 
Pivot:
21840.00
 
Our preference:
Short positions below 21840.00 with targets at 21070.00 & 20930.00 in extension.
 
Alternative scenario:
Above 21840.00 look for further upside with 22090.00 & 22240.00 as targets.
 
Comment:
As long as 21840.00 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
 
 
 

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