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DAILY MARKET NEWSLETTER
October 7, 2022
 
   
 
Tesla   Amazon.com   Apple   Nasdaq 100 (CME)   S&P 500 (CME)   Gold (CME)   Crude Oil (WTI)   EUR/USD   Bitcoin / USD   Soybeans (CME)  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Tesla intraday: short term rebound towards 252.2
 
Our pivot point is at 234.4.
 
Our preference:
Short term rebound towards 252.2.
 
Alternative scenario:
The downside breakout of 234.4 would call for 227.6 and 223.6.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Tesla is trading above its 20 period moving average (239.45) but under its 50 period moving average (242.58).
 
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Amazon.com intraday: as long as 119 is support look for 124.25
 
119 is our pivot point.
 
Our preference:
As long as 119 is support look for 124.25.
 
Alternative scenario:
Below 119, expect 117.25 and 116.
 
Comment:
The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Amazon.com is below its 20 period moving average (120.65) but above its 50 period moving average (119.82).
 
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Apple intraday: as long as 143.8 is support look for 150.6
 
Our pivot point stands at 143.8.
 
Our preference:
As long as 143.8 is support look for 150.6.
 
Alternative scenario:
Below 143.8, expect 141.4 and 139.8.
 
Comment:
The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Apple is trading under its 20 period moving average (146.18) but above its 50 period moving average (145.02).
 
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Nasdaq 100 (CME)‎ (Z2)‎ Intraday: under pressure.
 
Pivot:
11650.00
 
Our preference:
Short positions below 11650.00 with targets at 11447.00 & 11335.00 in extension.
 
Alternative scenario:
Above 11650.00 look for further upside with 11725.00 & 11800.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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S&P 500 (CME)‎ (Z2)‎ Intraday: under pressure.
 
Pivot:
3789.00
 
Our preference:
Short positions below 3789.00 with targets at 3730.00 & 3710.00 in extension.
 
Alternative scenario:
Above 3789.00 look for further upside with 3819.00 & 3853.00 as targets.
 
Comment:
As long as the resistance at 3789.00 is not surpassed, the risk of the break below 3730.00 remains high.
 
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Gold (CME)‎ Intraday: the downside prevails.
 
Pivot:
1726.00
 
Our preference:
Short positions below 1726.00 with targets at 1712.00 & 1703.00 in extension.
 
Alternative scenario:
Above 1726.00 look for further upside with 1733.00 & 1738.00 as targets.
 
Comment:
As long as the resistance at 1726.00 is not surpassed, the risk of the break below 1712.00 remains high.
 
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Crude Oil (WTI)‎ (X2)‎ Intraday: bullish bias above 88.10.
 
Pivot:
88.10
 
Our preference:
Long positions above 88.10 with targets at 90.00 & 90.90 in extension.
 
Alternative scenario:
Below 88.10 look for further downside with 87.10 & 86.00 as targets.
 
Comment:
The RSI is mixed with a bullish bias.
 
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EUR/USD Intraday: consolidation.
 
Pivot:
0.9815
 
Our preference:
Short positions below 0.9815 with targets at 0.9765 & 0.9750 in extension.
 
Alternative scenario:
Above 0.9815 look for further upside with 0.9840 & 0.9870 as targets.
 
Comment:
The RSI lacks upward momentum.
 
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Bitcoin / Dollar intraday: rebound towards 20710
 
Our pivot point stands at 19650.
 
Our preference:
Rebound towards 20710.
 
Alternative scenario:
The downside breakout of 19650 would call for 19240 and 18990.
 
Comment:
The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (19968) but below its 50 period moving average (20033).
 
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Soybeans (CME)‎ (X2)‎ intraday: short term rebound towards 1381.00
 
Our pivot point stands at 1347.00.
 
Our preference:
Short term rebound towards 1381.00.
 
Alternative scenario:
Below 1347, expect 1334.75 and 1327.50.
 
Comment:
The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Soybeans (CME) (X2) stands above its 20 period moving average (1356.28) but below its 50 period moving average (1363.74).
 
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