On Nasdaq, the 50-day average is at 18153 and the 20-day average is at 18438. It bounced up after touching the 50-day average. It hovers around 18464, which is its old peak. At the end of April, it doubled up with a double bottom triangle formation consisting of 16973 and 17284. The doubling of the bowl from 18464 in March would be another story and it would go somewhere closer to 2000. We are currently jumping and jumping above the averages. The historical peak is in 18907. In the opposite scenario, if the upward trend that started at 16973 in April by breaking the 20-day and 50-day averages downwards is broken, it would be beneficial to stop for a while. It seems to me more like bullish intent because the FED is attempting to cut interest rates.
Dow Jones formed two tops. The historical peak is here at 40077. Then came a hard sell, followed by two bottoms, 37600 - 37754, very close to 38000. Here, just like Nasdaq, Dow Jones came down a little too much. Nasdaq remained at its 50-day average. Dow Jones is now reacting upward again from where it was. If we look at the averages, they are very close to each other, the 50-day average is at 38848 and the 20-day average is at 39000. So it's like the two side by side. There is a reaction movement against hard selling. If we go above the averages again, then we need to watch the horizontal area of 38000 - 40000. He made a semicircle starting from April. Here, will the 39889 - 40077 part turn into a double top by crashing below 37600? Or will it be folded up to 42000 - 42500? So far the trend is upwards from 32327 in November.
It seemed like it was going to be on sale for a while. He made a double bottom and recovered immediately. If it breaks above the averages again, watch for a break of 40000. As soon as 40000 is broken, this rise goes up again, doubling the horizontal area between March and May. So, it becomes like a rest area between March and May. After it goes from 32000 to 40000, it becomes like a rest area between March and May. After that, there is a possibility of increasing 2400 points upwards. So you need to look there. The collapse here occurs as follows. An upward move cannot exceed the average and goes back down again. It breaks the line connecting the 37611 - 37754 lows between April and May downwards. When it goes below these lows, then horror scenarios begin. So first, 37100 is empty after the last castle down. Pay attention here, it is around 37000, so if there is a break, there is a 50-week average downwards at 37000. It doesn't let go right away, it doesn't stop falling down right away. There is an upward movement after a long rest that does not leave the price. Therefore, around 37000 per week is where the 50-week average is. So it stops there, don't panic just yet.
But it seems to me that once he intends upwards, he does it like a cup and its handle and intends upwards again. Because there is no place left for the money to escape. So where in the world will the money go? I mean, it's so tight that there's a lot of money. So it went to gold, commodities, everywhere. I mean, it has even come here for a while now, from 28000 to 40000. But it was called a pandemic in the world, 1 trillion copies were printed. It was said that money was sent by parachute, 1 trillion coins were printed. 3 trillion money was printed in the past, and 1 trillion in a row between 2008 and 2012. So a lot of money came out. So, imagine a world like this: The economic sizes of countries are the economic sizes of all countries; Think of it as America with 25 trillion and China with around 21 trillion, the two leading states. The rest, Japan and Germany, are like five trillion dollars each. There are many countries after that. I think the total of all this is around 80 trillion dollars. The debt has quadrupled to over 300 trillion dollars, around 320 trillion dollars.
So there's a lot of money out there. Where will this money go? So, where will the interest rate go? To some extent. In other words, if interest is interest, the dollar index will not go down, it will stay there. In other words, if he believes that American interest rates will rise and that he will provide sufficient returns, he will stay there. He wants to go the other way. On the other hand, there are no economies where large enough money can enter and leave. So will it invest money in China? China already has its own money. He is not looking for a place to sleep. So their destination is left and right. That's why I think these places still seem to have upside potential. But that's just my opinion, so it's not something with a 100% guarantee. Use your logic, maybe you will come to a better conclusion, that is a different matter.
DAX has two averages together. If it completes the trough it started at 18567, its target is 19500. It is currently trying to recover again and move upwards.
Gold has also come a long way. The 20-day average is at 2350, the 50-day average is at 2309. Gold is also stuck. It needs to break down the 50-day average in order to fold down the trough formed by the top of 2431 and the bottom of 2277. It seems intent on forming a new trough starting from the 2450 high in mid-May. This time it means it is heading towards 2600. Its breakout can only occur by going below the 50-day average, i.e. 2277. The decline may occur rapidly towards 2095. In such a case, we say that there is a double top. We can't know right now. If you look at the daily chart, it could be a double top or a cup handle. Looking at the weekly chart, the 20-week average is at 2247 and the 50-week average is at 2115. In a downward break, it reaches the 50-week average. But right now it is stuck between the 50-day average and the 20-day average. I can say that it is heading towards the handle of a cup, as if it is aiming upwards.
Silver reached its 20-day average around $30. He pretended to get under it. There are two hills; 32.52, the other one is a little lower at 32.30. The second one is a bit problematic under the first one, but it can be done, it can wrap horizontally. It did not fall below 29.79. It seems to be returning from the 20-day average again. As long as it stays above 32,30 is in effect. It formed a trough from 28.94 in April. This semicircle broke, the upward target was 33.52. But before it got there, it went horizontal. The upper side is 32.5 and the lower side is 30 dollars, so this is in the 2.5 dollar area. The trend above the averages is up. In the long term, it fell from its peak of 49.81 to 11.64 in March 2020. The pandemic took off from here. The 50-month average is closer to 23. He wandered around here and went up and down a few times. Now it has created a nice bowl between 2020 and 2024. Now it is aiming upwards. The target is where Fibonacci 78.6 is with the folding of the bowl. One of the problems is at $ 36, Fibonacci is waiting at 61.8 with two peaks. But it turns into a giant semicircle. There is a giant bowl slowly turning upwards from the 49.81 top. More in the middle 50% of the bowl.
They didn't leave Brent up, they gave it down to 78.19. Now the rising trend line connecting the lows starting from December has been broken and returned to the average. I said here, I wonder if a reverse shoulder can make head and shoulders. I don't believe it will go very far above either. Because they keep it under pressure. They are already keeping it under political pressure to prevent inflation from flying away. In other words, they do not want countries that do not have very good money to make money from oil. They do not want those countries to make money from oil and feed their economies. The upward trend in oil prices also creates problems with inflation. It hit and returned from the falling trend line connecting the falling highs starting from the 91.58 high in April. Now, unless this trend line and averages are exceeded, unfortunately it seems like it will hover between 77.5 - 85. It may try 76.5 below. There may be a reaction to the decline. The 77.5 - 85 area will probably be filled with jostling.
Then they will once again decide whether to go above or below the falling trend. It was not good that 80.46 was crossed downwards and there was a sharp sell-off. Now, of course, there may be some reaction to this, but it has been going down for several days. If you bring together the candles from the 4-day decline and make a single candle, it would make a $7 candle. A candle that shows a single decline from $85 to $78 is bad. It literally shows that the seller has arrived. So what else can he do? There may be some reaction to this candle. A move towards 80 - 81 may occur again. But don't expect something like a bottom here, now it's back like a rocket, we're going to 92 again. I think it will never happen like that. If it happens, it will really be a surprise for me to go back here like a rocket. There is no such price movement. So, it seems like they won't give up on the price movement that easily. There was also a Deadly Cross here, the 20-day price fell below the 50-day mark. This may also have played a role in not being able to overcome the downward trend.
Deadly Cross creates morale, leads to sales. The support for both those holding positions on the sell side is fantastic. Because they want the price to go down. That's how those who hold sales positions make money. So this is a move that pleases the seller side. Golden Cross also pleases the buyer side. The trend has turned downward again. Looking at the monthly chart, we are where the 50-month average is. There's a huge bowl here, the top of which costs around $150. There's even a huge bowl that costs $130 at worst. But this too took years. This could take a while too. Afterwards, when we talk about electric cars, maybe oil will be eliminated, but that is another matter.
We are making a bottom-peak in the rising channel in the dollar index and going down below 104. As this goes down, indices such as euro - dollar, sterling - dollar and gold trend upwards. It is difficult unless it goes above 105.11 again. In fact, it's now heading towards the deadly cross. If it breaks at 104.10, it will be the right passenger towards 103. The reason for its stance at 104 here is due to the previous lows. If this place goes, look at around 103 below.
We are jumping on Bitcoin. When you look from the 73311 peak in March, a large bowl forms. An interesting image began to emerge. In fact, a horizontal area is formed starting from 71979 in May. Here it is like its handle, that is, it is aiming towards 73300. Doubling this targets over 85000. Normally it will be 95000 in the long run, but not immediately. Here, there is a move towards 73000, above the averages, but we need to look at what comes after that. Maybe the last horizontal area I mentioned first will be the floors, maybe there will be an upward break.
Ethereum has reached 3980, I think it is resting here. He has a target of 4098, but I think he is resting. It is coming to complete the trough that it started from the 4098 peak in March. The seller may come when it reaches around 4093. When you look at it, it should normally arrive. Whenever the big bowls are completed, the seller comes. It broke out of the downward channel formed when you combine the falling peaks starting from the 4098 peak in March in May. It went fast from here, resting now. Even if it doubles the bowl it has formed since the peak of 3735 in April, it will reach 4500 in the upward direction. But this is what it looks like in the long term. If this big bowl between 4100 - 2800 breaks away from here and folds upward, you can talk about interesting numbers, that is, it looks like 5300 or 5500. Once upon a time, the price was around 4400, now it is 878. This is 2021. So the main dish is here at 4400. If you look at the numbers, one is 4877, the other is 4379. We are currently at 3800. The place where the dish will be completed is somewhere around 5000. That's why it goes from 84 to 4379 in 2020. There is nothing in this world that cannot happen for that reason. Very interesting things are happening. $5000 could be the target.
In GBP/JPY, when the Bank of Japan stepped in, it pretended to protect the yen. But the price went up again from the 50-day average. They brought it up again to 200.79. Two hills formed here. The trend is upward, the 20-day moving average is at 198, the 50-day moving average is at 195. When looked at, it has formed a rising channel since January. We are moving upwards in this channel that unites the bottoms and the tops. There is a struggle here, there are currently around 200. Because 200 is a round number like a milestone, numbers like 100 200 500 1000. So there might be something psychological going on here for him. The seller may have appeared. Those who have made money close positions. There may be those who say 200 cannot be crossed immediately and open a sell position. Just know that the trend is up, and it seems that way. In other words, even the Bank of Japan's sales and its move to protect the yen were eaten up by the market.
It seems to me that Euro - Dollar is going up. It made a nice semicircle from the 1.0897 high in May. There is an interesting image. It looks like it's going to 1.11. The line connecting the falling peaks from the 1.1143 peak in December was broken in May. It goes up from here, but if the euro, the European Central Bank, cuts interest rates, normally it should not go up. So, you decrease the value of the money, and on the other hand, the dollar index goes down. So there is an escape from the US dollar. He acts as if the FED interest rate is going to happen soon and says he should run away from the dollar. Despite this, this place seems to be stuck upwards. When you look at it, it is stuck here as 1.05 on the lower side and 1.11 on the upper side. If it explodes up, it will go to 1.16, but there is still a long way to go. Europe also needs to recover in order to get there. But in the short term, there seems to be a bit of a positive atmosphere here.
A semicircle is drawn in GBP/USD, starting from the top of 1.2894 in March. A bowl is formed. So it has the right intention towards 1.29. Of course, it is the FED's interest rate cut expectation that created all this movement. There is an upward appreciation in other currencies. The currency is switched so that if the dollar loses value due to the FED's interest rate cut, other currencies will appreciate and gain value through the compounding pot method. The main trend here is resistance around 1.3150. From the top of 1.2894 in March, there seems to be a semicircular movement towards 1.29.
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