Nasdaq's historical peak reached 19979. It completed the bowl starting from the 18464 peak in March and doubled up. The 20-day exponential moving average is at 19250. So this closest support is here at 19250, then the 50-day average is at 18712. Under normal circumstances, your first support will be where the 20-day average is. If this place is pierced, we will sag for 50 days. I think the FED's interest rate cuts were planned for December at the end of the year, but that's not going to happen now. It may not be in September. They say December. In other words, it is whatever the market prices.
Graphically, the Dow Jones 20-day average is at 38881 and the 50-day average is at 38835. Two very close averages, the 20-day and 50-day exponential moving averages. The price rebounded upwards. It went up by the difference between the double bottom of 37611 and 37754 and the top of 38557. It was a short-term double bottom and then went down. Again, the double consisting of 39889 and 40051 became like a top. Once it gets close to the 40000 level, you will know that the seller crowd will arrive. The price is trying to go up. However, a downside break would send the price lower towards 37650. For now, we are wandering horizontally in the 40000 - 38000 band. He may have a target like 42500 in the future, in the coming months. Currently it is horizontal. The big breakout double top occurs in real terms on a move towards 36968. This is how the breakout that brings the big sale happens. But it doesn't seem like he's getting there that much right now. There is no need to be alarmed, especially before it falls below the averages and the uptrend that started from the recent rising lows of 38000 and 38305 is broken. Even though there is a sell-off, there is still a possibility that it will go towards 40000.
In DAX, both averages are very close to each other, 20-day at 18339, 50-day at 18297. He was going to pretend to break them too close to each other, but he couldn't make Deadly Cross. It returned to the average again because there was a purchase. Starting from the peak of 18567 in April, he could not reach his target of 19569 by increasing gradually. Short term returned from 18892. Now we can talk about a trough starting from the 18892 peak in May. We'll see if this bowl will fold up to go to 20000. If it comes hard below 17600, if it hits the average and crashes hard, then you look down to the support at 17626. This line is important, 17626. If there is a crash below it, then there will be a Deadly Cross. It will cut the 20-day average of 50 days downwards. This time, there is a possibility that the gaps around 17000 will be closed. There may even be those who think like a big double top. Testing of 16380s brings the possibility of a sudden downward fold. But for that to happen, there needs to be a sharp decline for this to happen. On the upward move, sellers come in around 18850. If the trough starting from the 18892 peak in May rises, the target will be 20000. Considering the environment as FED's interest rate cuts and economies trying to recover, it seems to support a slightly upward movement. But this is not certain, of course. Things change very quickly in this world. So, if two bombs were dropped, there would be chaos at once, and I cannot guarantee that there will be no chaos. So we are heading towards a strange world. That's why no one can say with such certainty that this will happen or that will happen. They brought it to such a state that it was as if humanity was living momentarily. It's scary, like I said, be careful. If the price breaks and goes down, the first support is the price support at the bottom at 17951, the next support is 17626. This could be another signal of an upward trend. Crossing the line connecting the hills in an upward direction. This indicates that it will go up.
Gold's 20-day average is at 2333, the 50-day average is at 2318 and they are very close to each other. There was no Deadly Cross. The bowl breaks off and lingers without folding upwards and wraps it horizontally. It's going horizontally for now. The upper side is 2450, the lower side is 2290. If it goes up to 2450, the seller comes and then the movement is looked at. If it reaches the average and stops selling, that is, if there is any possible sales and the price jumps from here again, it means it is going up to 2600. The bowl starting from 2450 will break upwards, which means the bowl is folding. If you want, you can also say that the large horizontal area folds, it doesn't matter. Both heights are the same. If it stops going up from here, it means it is going down to 2150. It depends on which way you will start, so it is difficult to say whether it will go there or there by looking at this image. It is necessary to decide correctly on the direction of the breaks. It is necessary to look at which direction the price is breaking, in which direction the price is showing signs of movement, and in which direction the trend is intended. It seemed to go up, the sale came, but it didn't go down. It has started buying again, that is, it is undecided, it has not yet decided to go in one direction, it is necessary to maintain the position in the same direction as it is being sent, or it is necessary to open it by placing a stop.
Silver nearly doubled its trough in April to the upside. But it made two highs of 32.52 and 32.29. After these two hills it rolled down. There is also a support line coming from the bottoms here, which also coincides with the 50-day average. Just as it was about to break, it got a hard sell like gold. It hasn't collapsed, but it's still standing. If the upward movement occurs again, it means that it is going out of the falling channel and rising above it, and buying occurs. The seller comes first at 31.50 and then at 32.30. Folding the bowl starting at 32.29 will give 36.30. The big bowl has been going on here for 3-4 years. Its fold targets $42. That's a different story. He never wanted to go below the 50-month average. It hovered around 21 - 22 dollars. He traveled here for almost a year, but there is an average of 50 months there, an average of 4 years. Now it is struggling at $30. He pretended to leave, came back, tested and waited for the averages to come. As soon as it explodes up, it hits the average and takes itself up again. But of course, there are hills of 61.8 in front of you before going to 42.
We are in the sights of a bowl in Brent. Now it is aiming upwards. If he folds the bowl, it comes to 92. Around 88 vendors come. They do not allow it to go too far in terms of inflation and politics, but it is 88.5 and then 92. When you look at it in the long term, we are wandering in the horizontal area of 94 - 71 dollars. This place has become like a double bottom, now it is trying to get up from here. But they won't let him go to 130 right away. There's quite a struggle but it looks like it's aiming back up.
As you know, the dollar index automatically goes up unless other countries' currencies strengthen. Dollar index is a relative number, calculating the strength of the dollar against 6 currencies. Even if the strength of the dollar remains at the same place, if nothing happens, there is a dollar on one side and 6 currencies on the other side, like a seesaw. Now, if the currencies of the countries on this side, including the euro, the euro, sterling, and the yen are losing value against the dollar, that is, if the value of the currency is decreasing due to the failure of their own economies to recover, if the money is losing its power in those countries, there is nothing the dollar can do in those countries. As the dollar automatically moves to the other side of the seesaw, the dollar naturally goes up on this side. Think of it like compound pots or a seesaw. It does not take major measures to increase interest rates or increase the value of the dollar. On the contrary, it will reduce interest rates, but the Bank of England kept the interest rate constant. The European Central Bank lowered interest rates and devalued the euro. Whatever he did, the dollar index had to go up. The Euro-Dollar parity also went down, falling below 1.07 for a while. The dollar hasn't done anything, people are doing it on their own. It's the same here, too. I don't think it's going to happen here because of the interest rate increase. Other currencies are going down on their own.
Euro - Dollar seemed to go up. It collapsed after the interest rate cut. Resistance appears here at 1.09. But first, there are two averages here, Deadly Cross happened again. Now it is trying to recover. If it goes above it, there is a mass of sellers that it will face at 1.09. This seller base also has a strong hand. In other words, there is no such thing as a horror, a big recovery in the euro, interest increases, or an economic recovery in Europe. If it were, I would say that it would explode at 1.09 and find itself at 1.11. There is no such safe situation around. That's why it goes horizontally here. This once fast place has calmed down a lot. So investors, forex players here must be very bored. You have to do business with big companies to make money, they have almost turned people into scalpers. So it was like a scalping supporter. Entering and exiting with large lots on very small margins is not everyone's cup of tea, so it is not an easy task.
Sterling and dollar seemed to recover a little on Monday. The most important thing about this is that it did not go down much because there was no interest rate cut. The Bank of England kept the pound sterling somewhat valuable by not cutting interest rates. At the moment the bottoms are rising but not flying away. Anyway, if there is a movement, there are two resistances here, like 1.29 and then 1.3150. Especially 1.3150 is very strong, so we probably have to wait for winter for them to come here. So we don't expect it from them. Maybe this will move up with the FED's interest rate cut. The FED will push it up as soon as its own currency, the dollar, begins to become worthless. It looks like that, I mean it's weird, but that's just the way it is.
GBP - JPY exceeded 200. The Bank of Japan's sale of this type seems to have achieved its purpose only temporarily if the economy behind the currency is not strong. The economy must be strong so that this sale, which can stay below 200, has value. It continues its journey in the upward channel in the ascension channel. The 20-day average is at 200 and the 50-day average is at 198. Very close to each other, the price goes to 203. When it reaches the upper part of the channel, the seller may come. It has found an exit channel and is heading upwards. Unfortunately, if the economy in Japan does not improve, the Japanese Yen will go down.
In Bitcoin, when it goes below the averages, the position is abandoned, and the upward positions are abandoned. Even if you cannot hold a downward position, at least do not hold an upward position. He turns to Deadly Cross because he's going down so hard now. However, this sharp decline may not mean that the bottom at 60187 will hold. Because it's going down very hard right now. Below 60000 it reaches 56552 and tries this bottom again. Maybe here, then, the upper side is 73, the lower side is 56, to form a horizontal band, maybe it can draw such a route from here again up and down until winter. Unfortunately, its very rapid rise from 50000 to 60000 causes no full buffer zone to be formed against declines. The declines are also coming down fast. Because there is no cost here. Where there is no cost, no one will come forward as a buyer against the decline.
Ethereum has gone down, below the averages as it recovers a bit. Unfortunately, this place leads towards Deadly Cross. There was a big bowl here too. If the 4098 - 2800 bowls were increased, it would go above 5000, but we are prolonging the work. One of the reasons why the work here is taking longer is that the FED constantly postpones the start date of interest rate cuts, which will defeat the expectations of the markets that price this interest rate cut. The market has been waiting for an interest rate cut since March. June is over and now the markets are hoping for the end of the year. But some people realize profits or give from above and receive from below.
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