My Thoughts on Current Markets-132


When you look at the daily chart of ounce gold in general, the upward trend in the medium-term Fibonacci scale continues. But here we see that it is only under pressure due to the short major falling below the 5 and 8-day moving averages. We are in the 2330 - 2427 band. The price is in a medium-term uptrend. It is making a correction here, as in the beginning of May, within the medium-term uptrend. The 34-day moving average served as support in the previous downward wave. Now we will make a decision as the same moving average approaches 2330. We will follow whether this correction will break the 2330s and keep it downwards until 2285 - 2194, or will it start a reaction attack towards 2427s again without breaking the 2330s. If we look at this scale, the 2330 - 2427 band is a band that should be read upwards cautiously. This pressure of short-term gold may continue below 2330, towards 2185 - 2190 per ounce of gold. Below 2330, towards 2185 - 2190. However, if this retreat turns into extreme pressure, especially towards the 2190s, this would be an opportunity in itself. Because every decline presents an opportunity in itself, thus becoming an opportunity. We will support a controlled uptrend above 2330, and pressure will continue below 2330. Above 2427, a very serious spoilage may begin for gold towards 2600. However, the depiction I see from the graph is this; There may be a time when 2427 is crossed. I do not fall into the 2330 - 2427 band. I would either buy with a target of 2600 when it closes above 2427, or if it starts to close below 2330, I would enter with half share at 2285 and half share at 2194. I think there is no money in the 2330 - 2427 band, I think gold will make money when 2427 is passed.

If you look at the weekly chart of ounce silver, you will see that there is relative separation. He made the long-awaited separation. But after a decrease of 28.60 - 18 dollars, that is, a pressure of about 2 years, silver fluctuated between 26 dollars and 21 dollars. Horizontal channel formation was observed. Stuck between 26 and 21 inside the triangle. Then he lifted himself up as the ounce of gold exceeded the 2050s. Of course, the Iran-Israel tension is also involved here in terms of geopolitics. He ripped himself upwards. After passing the triangle, we now stopped at 1.272 Fibonacci of the 28 - 17 decline. Now, the strategic target in silver is the golden ratio fibonacci 1.618, we can also round it to 35.5. This is focused on the silver 35.5 gold rate target, which remains above 26.20 in the medium term. It will reach this goal by correcting it from time to time. However, here the investor should not break the discipline of managing such a time management cost with a target of 35.5 unless it closes below 26.20. Below 26.20, there is a technical deterioration in silver, and below 26.20, the story goes into a different cycle and the time to reach 35.5 becomes even more serious. The price goes back to its moving averages and trend. Therefore, it should not break the 8-day moving average. 28.65 break and 26.20 are the main trend supports. Unless these supports are broken, withdrawals can also be read as a relative cost increase. Although we will organize a strategy according to Pullback, the target is 35.5, which is the golden ratio, unless 26.20 - 25.80 is broken. But I do not expect the price, which is currently around 31.5, to go to 35.5 without any correction.

Bitcoin has once again trapped itself in a triangle squeeze. Let's pay attention to the Fibonacci 78.6 of the decline from 73000 to 56000. When this falling trend and 78.6 is passed, Bitcoin explodes the long energy it has accumulated in this triangle. First, let me determine the condition and resistance of Bitcoin, which is safe, has appetite, has momentum and will satisfy the investor. If 70000 passes especially 70800, an exit equation and exit period, exit yield, that can really satisfy the investor towards 78000 in bitcoin, is then triggered. Unless or until 70000 and 70800 are crossed, Bitcoin seems to be stuck in the 70800 - 62970 band. This will not offer anything to the in-band investor. There is no performance here. A band range for those who want to day trade very major, very short term. If 70800 is passed, a new upward trend in bitcoin will begin towards 78100 - 83900. There is a back and forth in the 70800 - 62970 band until it passes 70000 and 70800. 60700 - 58500 must be broken for it to enter into an equation theory that can really disturb investors and upset them. In the medium term projection, unless this point is broken, yes, there is a loss of power, this creates resistance from the fall, but there is no permanent short or permanent bear signal in the very long term technical discipline.

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.

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