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DAILY MARKET NEWSLETTER 22/01/2025

2025-01-23 05:00

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

Crude Oil (WTI)‎ (H5)‎ Intraday: capped by a negative trend line.

Pivot:

76.70

Our preference:

Short positions below 76.70 with targets at 75.10 & 74.40 in extension.

Alternative scenario:

Above 76.70 look for further upside with 77.15 & 77.85 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.

Gold Intraday: the upside prevails.

Pivot:

2729.00

Our preference:

Long positions above 2729.00 with targets at 2752.00 & 2764.00 in extension.

Alternative scenario:

Below 2729.00 look for further downside with 2717.00 & 2703.00 as targets.

Comment:

The RSI is bullish and calls for further upside.

Bitcoin / Dollar intraday: the upside prevails as long as 104550 is support

104550 is our pivot point.

Our preference:

The upside prevails as long as 104550 is support.

Alternative scenario:

The downside breakout of 104550 would call for 102880 and 101890.

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 105136 and 103473).

USD/JPY Intraday: rebound expected.

Pivot:

155.25

Our preference:

Long positions above 155.25 with targets at 156.05 & 156.30 in extension.

Alternative scenario:

Below 155.25 look for further downside with 155.00 & 154.75 as targets.

Comment:

The RSI calls for a bounce.

EUR/USD Intraday: the bias remains bullish.

Pivot:

1.0370

Our preference:

Long positions above 1.0370 with targets at 1.0435 & 1.0460 in extension.

Alternative scenario:

Below 1.0370 look for further downside with 1.0345 & 1.0310 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Binance Coin / Dollar intraday: the upside prevails as long as 681 is support

Our pivot point stands at 681.0.

Our preference:

The upside prevails as long as 681 is support.

Alternative scenario:

Below 681.0, expect 667.2 and 659.0.

Comment:

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 685.9 and 687.4).

Solana / Dollar intraday: the upside prevails as long as 247.5 is support

Our pivot point is at 247.5.

Our preference:

The upside prevails as long as 247.5 is support.

Alternative scenario:

Below 247.5, expect 239.8 and 235.2.

Comment:

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 246 and 242.1).