market 12

My Thoughts on Current Markets-12

Euro-dollar parity is at the level of 1.0815, the support level of 1.08, which I expected, is working.

At the level of 1904 dollars an ounce of gold, 1890 support level worked. Now there's the 1916 resistor above. But on Friday, FED Chairman Powell will have statements at the Jackson Hole meeting. Powell will make several statements at this symposium. He will most likely make a statement in a hawkish tone. He will continue to make cool speeches praising the US economy and increasing interest rates if necessary. Therefore, I guess that the suppression process on the ounce gold and ounce silver side will continue. I can say that the rises in ounce gold and silver this week are reaction purchases. For an ounce of gold, there is a level of 1860 dollars below and a level of 1960 dollars above. It will continue to fluctuate in this broadband range.

Silver had a strong support level at $22.20 an ounce. These have been tested. Silver's price is at $23.75 an ounce, with a 1.5% increase in value. I stated that it will rise to the levels of 24-26-28 dollars. Last week, we saw that the buyers made the right decision. This uptrend will continue on the silver side.

This week, I shared my forecast for a decline in oil prices. It may decline to $81.5 level. I stated that the downward forecast of those who traded on oil prices still continues. It went up to $88. From here it went down again. It is stuck in the $83-84 range, but I foresee a pullback to the $81.5 level.

Last week, those in the cryptocurrency markets had nightmare-filled days. These nightmare-filled days continue. Today, BTC is at $26040, there are reaction buying. But the ups are weak. Let's see where the sales wave here will end. However, I see that the purchases are a little faster in the declines.

The dollar index made a serious rise at the level of $103.73. He's probably eyeing the $104 or $104.5 level. The rise in the dollar index will not be permanent. In the last quarter of the year, I would like to express that I expect a regression in the dollar index to the levels of 92-94 dollars.

My opinions are not investment advice. Please do your own research.


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