Market analysis from Saxo

Saxo Broker

Short Term We look to Buy at 17.60 (stop at 16.60) Price action looks to be forming a bottom. In line with the possible early stages of a reverse head & shoulders pattern and the strong rejection of dips, we look to set longs in anticipation of a swing higher. A break of 18.00 is needed to confirm follow-through bullish momentum. The preferred trade is to buy...

Saxo Broker

Intraday We look to Buy at 20917 (stop at 20487) Short-term bias has turned positive. The previous resistance of 20600 has been broken. 20771 & 20874 have been pivotal. A lower correction is expected and preference to buy into dips. Our profit targets will be 21987 and 22387 Resistance: 21800 / 22500 / 23000 Support: 21500 / 20800 / 20500 Disclaimer –...

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Intraday We look to Buy at 57.36 (stop at 56.09) Short-term momentum is bullish. Short-term bias has turned positive. 20 4hour EMA is at 57.80. 50 4hour EMA is at 57.70. We look to buy dips. Our profit targets will be 60.75 and 61.65 Resistance: 61.00 / 62.00 / 63.00 Support: 60.00 / 59.00 / 57.50

Saxo Broker

Short Term We look to Sell at 29.61 (stop at 33.45) Preferred trade is to sell into rallies. Prices expected to stall near trend line resistance. In line with the possible early stages of a head & shoulders pattern and the strong rejection of gains, we look to set shorts in anticipation of a swing lower. The medium term bias remains bearish. The reaction...

Saxo Broker

Tilray Short Term We look to Buy at 3.18 (stop at 2.94) We look to buy dips. There is scope for mild selling at the open but losses should be limited. A higher correction is expected. Expect trading to remain mixed and volatile. Previous support located at 3.120. Our profit targets will be 3.74 and 3.99 Resistance: 3.75 / 4.00 / 5.15 Support: 3.20 /...

Saxo Broker

Ethereum Intraday We look to Sell at 1709 (stop at 1744) Daily signals are bearish. Bespoke resistance is located at 1700. We look for a temporary move higher. Preferred trade is to sell into rallies. 1718 has been pivotal. Our profit targets will be 1622 and 1592 Resistance: 1650 / 1700 / 1750 Support: 1600 / 1550 / 1500 Disclaimer – Saxo Bank Group....

Saxo Broker

Bitcoin Intraday We look to Sell at 19598 (stop at 20001) Broken out of the triangle formation to the downside. 19500 has been pivotal. Previous support located at 19500. We look for a temporary move higher. Preferred trade is to sell into rallies. Our profit targets will be 18707 and 18207 Resistance: 19000 / 19500 / 20000 Support: 18500 / 18000 /...

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Netflix Short Term We look to Sell at 220.83 (stop at 236.96) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Price action looks to be forming a top. We look for losses to be extended today. The medium term bias remains bearish. Our profit targets will be 170.19 and 164.87 Resistance: 248.70 / 329.82...

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Peloton Short Term We look to Buy at 8.60 (stop at 7.82) Expect trading to remain mixed and volatile. Previous support located at 8.60. Dip buying offers good risk/reward. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Our profit targets will be 11.02 and 13.49 Resistance: 11.30 / 14.70 / 20.00 Support: 8.60 /...

Saxo Broker

Gravity Short Term We look to Sell at 52.99 (stop at 55.66) Bespoke resistance is located at 55.00. Choppy price action seen. Our outlook is bearish. Selling spikes offers good risk/reward. The rally was sold and the dip bought resulting in mild net losses yesterday. Our profit targets will be 43.20 and 41.20 Resistance: 53.00 / 60.00 / 65.00 Support:...

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Li Auto Short Term We look to Buy at 26.22 (stop at 24.22) Further upside is expected although we prefer to buy into dips close to the 26.22 level. The medium term bias remains bullish. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. The bias is still for higher levels and we look for any dips...

Saxo Broker

Ethereum Intraday We look to Buy at 1581 (stop at 1541) Short term bias has turned positive. We look for a temporary move lower. We look to buy dips. 50 4hour EMA is at 1580. Our profit targets will be 1678 and 1708 Resistance: 1700 / 1750 / 1800 Support: 1650 / 1600 / 1550 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible...

Saxo Broker

Delivery Hero Short Term We look to Buy at 36.58 (stop at 33.74) We look to buy dips. We have a 61.8% Fibonacci pullback level of 36.59 from 23.88 to 57.16. There is scope for mild selling at the open but losses should be limited. We can see no technical reason for a change of trend. Our profit targets will be 42.58 and 46.56 Resistance: 46.60 / 53.59 /...

Saxo Broker

Barclays Short Term We look to Sell at 171.28 (stop at 176.42) Previous resistance located at 170.00. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We look for a temporary move lower. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit...

Saxo Broker

Litecoin Intraday We look to Buy at 57.41 (stop at 56.19) Previous resistance level of 57.50 broken. We look for a temporary move lower. We look to buy dips. Our profit targets will be 60.39 and 60.99 Resistance: 60.00 / 61.00 / 62.00 Support: 59.00 / 57.50 / 56.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your...

Saxo Broker

Bitcoin Intraday We look to Buy at 19601 (stop at 19248) Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 19500 has been pivotal. 19500 continues to hold back the bears. We look to buy dips. Our profit targets will be 20444 and 20844 Resistance: 20500 / 21000 / 21500 Support:...

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Ageas Short Term We look to Buy a break of 40.97 (stop at 39.99) Previous support located at 40.00. 40.00 has been pivotal. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We look for a temporary move higher. Our profit targets will be 42.96 and 44.30 Resistance: 43.00 / 44.60 / 46.00 Support: 40.00...

Saxo Broker

AB Inbev Short Term We look to Buy at 47.28 (stop at 46.18) Previous support located at 47.10. Price action has posted a Doji candle and confirms a possible stall in the recent move. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Expect trading to remain mixed and volatile. Our profit targets will be...