Investment Recommendations April 3rd

Oil: Short-Term Sell

WTI Crude Oil Futures, 4-Hour Chart Analysis

Oil had experienced a significant bounce last week after the key technical break-down two weeks ago. The crucial commodity rose above the $50 per barrel level, although the momentum of the advance as starting to fade, as the MACD seems to be rolling over in slightly overbought territory. The price is nearing trend-line resistance around the $51 level, as it’s also close to the lower boundary of the previous multi-month consolidation zone.

The key $51.50 resistance level provides initial resistance, with a further important zone ahead between $52.15 and $52.50. Technical support levels below are found around $49.75. The most important level of the recent bearish range is at $48.75. The underlying fundamental trends remain bearish, suggesting a new leg down, possibly penetrating the prior lows near $47.00.

Bitcoin: Short-Term and Long-term Buy (Update)

Bitcoin, 4-Hour Chart Analysis

Bitcoin reached the target of our short-term recommendation early this morning, but so far no explosive move on the upside got triggered. The conditions for our long-term buy recommendation are still intact, but the lack of momentum made us tighten the stop-loss, already above our entry point, just below the 1050 level.

The 1115 and the 1060 support levels are crucial for the current short-term uptrend, as the violent correction might resume if those technical levels fail. Strong resistance is ahead at 1260 and 1300, with minor levels at 1135 and 1165.

View a summary of all recommendations here.

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.