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DAILY MARKET NEWSLETTER 28/02/2023

2024-04-30 04:28

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

GBP/USD Intraday: further advance.

Pivot:

1.2010

Our preference:

Long positions above 1.2010 with targets at 1.2100 & 1.2135 in extension.

Alternative scenario:

Below 1.2010 look for further downside with 1.1970 & 1.1930 as targets.

Comment:

The RSI is bullish and calls for further advance.

EUR/USD Intraday: the upside prevails.

Pivot:

1.0570

Our preference:

Long positions above 1.0570 with targets at 1.0630 & 1.0655 in extension.

Alternative scenario:

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

Comment:

The RSI advocates for further upside.

Gold Intraday: rebound expected.

Pivot:

1811.00

Our preference:

Long positions above 1811.00 with targets at 1821.00 & 1827.00 in extension.

Alternative scenario:

Below 1811.00 look for further downside with 1806.00 & 1800.00 as targets.

Comment:

The RSI calls for a bounce.

Crude Oil (WTI)‎ (J3)‎ Intraday: key resistance at 76.30.

Pivot:

76.30

Our preference:

Short positions below 76.30 with targets at 75.00 & 74.40 in extension.

Alternative scenario:

Above 76.30 look for further upside with 76.80 & 77.30 as targets.

Comment:

As long as 76.30 is resistance, look for choppy price action with a bearish bias.

Bitcoin / Dollar intraday: the downside prevails as long as 23560 is resistance

23560 is our pivot point.

Our preference:

The downside prevails as long as 23560 is resistance.

Alternative scenario:

Above 23560, look for 23930 and 24160.

Comment:

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23445 and 23466).

Ether / Dollar intraday: the downside prevails as long as 1643 is resistance

1643 is our pivot point.

Our preference:

The downside prevails as long as 1643 is resistance.

Alternative scenario:

The upside breakout of 1643, would call for 1671 and 1688.

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1639 and 1638).

Nasdaq 100 (CME)‎ (H3)‎ Intraday: key resistance at 12140.00.

Pivot:

12140.00

Our preference:

Short positions below 12140.00 with targets at 12050.00 & 12000.00 in extension.

Alternative scenario:

Above 12140.00 look for further upside with 12190.00 & 12250.00 as targets.

Comment:

As long as 12140.00 is resistance, look for choppy price action with a bearish bias.