My Thoughts on Current Markets-114

There are some upward reactions on the euro - dollar side and sterling - dollar. Gold is trying to stay where it is. There are some reactions there too after the sharp decline. There is an attempt to make a bottom, albeit temporarily.

Nasdaq went down and then came back. He's trying to get it together now. It was in a horizontal area above. As soon as it went down, it broke off as soon as it went below 17777. It is a classic story when it breaks, it is expected to go down at least as much as the 18464 - 17777 horizontal area. In other words, whichever direction it goes, if it is up, there will be movement up, if it is down, there will be movement down, and it happened. It reached 16973. We've reached the average. We are now above the 20 and 50 day averages. Trying to hold on to the 17810s.

Will this place move upward again and push the old peak again? So does it go to complete the bowl? Does it complete the bowl and semicircle again with an upward movement? Everything is possible. I think the reason for the decline was mostly because the markets bet on the FED to cut interest rates in a short time, and waited and waited. The FED also extended it. Not now, not later, not later, not later, not later, not later, then it came to May.

The markets are disturbed, and the markets said, "Wait, wait, how long?" They said, "Oh, we're making a profit anyway." People sold it and left. In other words, while it was going below the averages in mid-April, it crashed down with the big candle and disappeared. It's now reacting again from 16973's. If it goes up, there will be a sale around 18460. So you expect a downward move, this time a correction move to the right again. After that, this is the only way you can understand whether it suits the markets or not, whether the FED lowers interest rates or not, and whether the markets like it very much or not.

If they blow it up from here, it should go to the 20000 target. First, we need to go towards 18500. After that, a collapse movement, if it breaks after correction, it breaks. If it cannot go up from here and breaks down, it will be problematic. The current situation is like a double bottom study. The second bottom is at 17172. The point between the first and second bottoms has been crossed in an upward direction. This is a positive sign, it looks like it's on its way back up again. If the formation continues, it aims towards the old top.

Dow Jones also fell. They brought it up to 40000 here with the double top. They didn't make 40000, they broke my heart. The breaking point for this is the beginning of April in the short term. Now here the duo is trying to get to the bottom. If you look, you can see two bottom and hammer views at 37611 and 37754 recently. In order for Dow Jones to save the situation, it must cross the 38552 peak between the two bottoms in an upward direction. A move past the top causes the price to go even higher. If the resistance is broken, the normal expectation seems to be 39500 if you add the price difference between the peak and the low point to the current level.

If it reaches 39500, there is a gap created in the decline, the gap between 39500 - 39400 will be closed. It crosses the falling trend line starting from 39650s. It crosses both 20-day and 50-day averages. If it exceeds 38552, it means it is breaking 3 resistances in the upward direction. The price also goes up under normal conditions. If the falling trend cannot be broken, the target will be around 37000. It seems like it will go up, but of course, nothing in life is ever guaranteed. As if he had such an intention. But 37000 support point. Below that would be 35600's. The decline should stop at around 36000 at most. If it goes below this, things will get very complicated. Personally, I still think that the prices will go up and aim for 39500 and test there.

DAX 50-day average is at 17807, 20-day resistance is at 17626, with initial resistance at 18210. There is a problem here. If the last bowl formed, that is, the semicircle formed, breaks and goes up, the price will pass the 18567 peak. A semicircle is formed. After that, there will be a climb towards 18500 and 19250 - 19500. If the dish doubles, it targets 19500 on the upside. Its only collapse occurs when the price sags downward once again. So, if it goes below the averages or even below 17626, then the problem will continue downwards.

In this image, I think the vital place to aim upwards is 17807, that is, the 50-day average. As long as it remains above the 50-day and especially the 20-day average, the potential and probability of an upward trend increases. If the 20-day period is broken, the 50-day period is tried. If the 50-day period is broken, the problem will grow. The bottom at 17626 may not hold this decline anymore. Adjust your position accordingly.

The classic euro-dollar rebound is slightly upwards, but the upward movement will not start until the falling trend starting from 1.1143, which is the peak in December 2023, is passed. In other words, it triggers an upward movement above 1.0760 - 1.0770, and causes a movement above 1.09.

GBP - USD is also recovering upwards. It became a small bowl upwards. So he wants to go towards 1.27. The falling trend starting from the 1.2894 peak in March should be crossed. Those who hold an upward position should wait for this movement. Selling comes at 1.27. But to be sure, we need to see that the falling trend is broken. This point is important for this break to go above the average, that is, if it passes between 1.2580 - 1 26, it means that it is understood that it will go up.

Gold had fallen around 60 points. Later that day he made a hammer. Now he is struggling and trying to recover. The 20-day average is at 2319, the 50-day average is at 2238. As long as it remains above the 20-day average, there will be a move towards 2366 again. If it does not go below the averages, it may move to complete the 2431 - 2291 bowl. When the falling trend from the 2431 peak is broken, 2550 - 2560 levels are targeted. For a downward position, the averages must be broken again. If it breaks, look at 2291. If it doesn't hold, then it comes towards 2238, to test the 50-day average.

Silver is also resisting, the level passed is 26 dollars. The 50-day average is also there at 25.99. The upward trend, which started at the beginning of March, is struggling to reach its final bottom at 26.67. It rose very hard and is trying to stabilize. If it goes down again and the uptrend is broken, then it reaches 26. I think it probably won't go below 26 anymore. After spending a lot of time, he found himself in the 30's, I guess he won't be below 26. So if it jumps from here, it won't run, around 29 sellers will come. Let's see how it moves on this hill here.

Brent Oil came back to the 50-day average, 85.15. They didn't let him go up much. Bravo if they break the 50-day average support below 88.59 once again. Then it goes below the ascending channel, which means the support trend line is also broken. Then I say, wow, how tightly they control it. That's it, I say give up. So the target will be around 81.26 if they break it like this. If it goes up, it will encounter a sale around 91.5. It should not go below the 50-day average, especially 85.15. If it goes, it will be a passenger towards 81.5 - 82. It will be a profitable business for those who hold a downward position, if it breaks down and goes away.

The dollar index reached 106.44. There was a sale at 106.52, but we are above the 20-day average. This is heading towards 107. In order for the dollar index to go down, it must go below the averages and below the upward channel. An upward move to 107.35 will encounter selling at the top of the channel. There is both the channel upper resistance and the price resistance provided by the top here.

GBP - JPY moved upwards by 100 units. After around 198, it reached 200.53. Now he spends some time here. Because it went very fast, it is obvious that a sale was made here, but it reached the target.

We are drifting downwards in Bitcoin in the short term. The falling trend from the top of 72797 has still not been broken. I think the last support is at 60775. When we look at the 4-hour chart, the gap between 50000 and 60000 came crashing down here. There has never been such a war between buyer and seller. So there was no big cost here. Take a good look here. Because if the place I call the last support breaks, it may come down hard. If there is a rupture here, this part will quickly go downwards.

Its salvation is to make a move that breaks the falling trend and turn it upwards from here so that it can recover. There is also resistance at 67200. There is a problem here if it goes upwards. But the first big problem is the falling trend I mentioned. In order to do the reverse shoulder head to shoulder, he first goes up and then comes down, then he does the right shoulder and throws it upwards to himself. We are below the 20 and 50 day averages on the daily chart but it is trying to return to the hammer.

The struggle continues on the Ethereum daily chart. In order to exit, it must break the falling trend that started from the 4098 peak seen in March. The seller comes to this exit movement at 3700. If the downtrend cannot be broken, there may be a rapid decline down to 2500. You need to pay attention to that too.

Platinum is trying to recover. Watch out there as well, as it's heading upwards towards $1,000.

The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.

How do you rate this article?


Cryptocurrencies and Stocks Articles
Cryptocurrencies and Stocks Articles

In this section, I will have articles about the stock market and cryptocurrencies.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.