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Daily Market Newsletter
November 21, 2024
 
   
 
Crude Oil (WTI)   Gold   GBP/USD   USD/JPY   EUR/USD   Dow Jones (CME)   Nasdaq 100 (CME)   GBP/JPY   EUR/AUD   USD/CAD   Nvidia   Tesla  
 
 
 
 
  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: consolidation.
 
Pivot:
69.40
 
Our preference:
Short positions below 69.40 with targets at 68.50 & 68.20 in extension.
 
Alternative scenario:
Above 69.40 look for further upside with 70.00 & 70.50 as targets.
 
Comment:
As long as 69.40 is resistance, look for choppy price action with a bearish bias.
 
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Gold Intraday: the upside prevails.
 
Pivot:
2632.00
 
Our preference:
Long positions above 2632.00 with targets at 2664.00 & 2675.00 in extension.
 
Alternative scenario:
Below 2632.00 look for further downside with 2618.00 & 2607.00 as targets.
 
Comment:
The RSI is mixed with a bullish bias.
 
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GBP/USD Intraday: bullish bias above 1.2630.
 
Pivot:
1.2630
 
Our preference:
Long positions above 1.2630 with targets at 1.2675 & 1.2695 in extension.
 
Alternative scenario:
Below 1.2630 look for further downside with 1.2610 & 1.2595 as targets.
 
Comment:
A support base at 1.2630 has formed and has allowed for a temporary stabilisation.
 
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USD/JPY Intraday: under pressure.
 
Pivot:
155.85
 
Our preference:
Short positions below 155.85 with targets at 154.50 & 154.00 in extension.
 
Alternative scenario:
Above 155.85 look for further upside with 156.30 & 156.70 as targets.
 
Comment:
The RSI shows downside momentum.
 
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EUR/USD Intraday: continuation of the rebound.
 
Pivot:
1.0525
 
Our preference:
Long positions above 1.0525 with targets at 1.0565 & 1.0580 in extension.
 
Alternative scenario:
Below 1.0525 look for further downside with 1.0505 & 1.0490 as targets.
 
Comment:
The RSI calls for a rebound.
 
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Dow Jones (CME)‎ (Z4)‎ Intraday: turning up.
 
Pivot:
43370.00
 
Our preference:
Long positions above 43370.00 with targets at 43620.00 & 43770.00 in extension.
 
Alternative scenario:
Below 43370.00 look for further downside with 43240.00 & 43110.00 as targets.
 
Comment:
The RSI shows upside momentum.
 
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Nasdaq 100 (CME)‎ (Z4)‎ Intraday: intraday support around 20570.00.
 
Pivot:
20570.00
 
Our preference:
Long positions above 20570.00 with targets at 20840.00 & 20890.00 in extension.
 
Alternative scenario:
Below 20570.00 look for further downside with 20500.00 & 20390.00 as targets.
 
Comment:
The next resistances are at 20840.00 and then at 20890.00.
 
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GBP/JPY intraday: the downside prevails as long as 196.80 is resistance
 
Our pivot point stands at 196.80.
 
Our preference:
The downside prevails as long as 196.80 is resistance.
 
Alternative scenario:
Above 196.80, look for 197.57 and 198.03.
 
Comment:
The RSI is below 50. 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 196.38 and 196.74).
 
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EUR/AUD intraday: the downside prevails as long as 1.6230 is resistance
 
Our pivot point stands at 1.6230.
 
Our preference:
The downside prevails as long as 1.6230 is resistance.
 
Alternative scenario:
The upside breakout of 1.6230, would call for 1.6281 and 1.6312.
 
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 1.6201 and 1.6213).
 
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USD/CAD Intraday: the downside prevails.
 
Pivot:
1.3995
 
Our preference:
Short positions below 1.3995 with targets at 1.3950 & 1.3930 in extension.
 
Alternative scenario:
Above 1.3995 look for further upside with 1.4015 & 1.4035 as targets.
 
Comment:
The RSI lacks upward momentum.
 
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Nvidia Intraday: the upside prevails.
 
Pivot:
143.15
 
Our preference:
Long positions above 143.15 with targets at 149.70 & 152.30 in extension.
 
Alternative scenario:
Below 143.15 look for further downside with 140.00 & 137.20 as targets.
 
Comment:
The next resistances are at 149.70 and then at 152.30.
 
Analyst Views Chart
 
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Tesla Intraday: bullish bias above 322.80.
 
Pivot:
322.80
 
Our preference:
Long positions above 322.80 with targets at 358.00 & 375.00 in extension.
 
Alternative scenario:
Below 322.80 look for further downside with 309.40 & 295.00 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
Analyst Views Chart
 
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