My Thoughts on Current Markets-177


The Dow Jones side overcame the effect of this black Monday on August 5th and gained a significant premium on it, and came very close to the peak. 41000 - 41100 was important, and it could not pass this level in recent days. After Jackson Hall, it was able to close above this level after Powell's statements. Depending on whether we will see persistence above the 41000 - 41100 levels next week, a movement towards the new peak can be expected here. In the first stage, 41500 - 41600 can be seen as the main resistance zone. If this level is exceeded, you can expect an attack up to the 42000 - 42400 levels on the Dow Jones side. The main support point that it should not break below is 40800. If 40800s are broken, it would be useful to be a little more cautious, as I can state that we may have a pullback to 40500 and then to 40200.

Similarly, on the German side, we saw 17100s here on August 5. The upward movement that started at 17100 found a 10% margin. We have reached 18700s. 18800s are an important resistance point for us in the short term, the area where the old peaks passed is also an important resistance point, if there will be closings above this level, I will expect a new peak above 19000 in Dax. Especially below 18500 in the short term, and then the level that follows is 18300. In other words, as long as it stays above the 18300 - 18500 area in possible pullbacks, there is no problem, upward attacks are supported. But if the 18500 - 18300 area is broken here, I can say that I will expect a correction again until 18000s on the dax side.

Brent oil is coming, it is testing the 74 - 75 dollar band and then it is trying to react. Again, with the reaction from 75, we came to 78 dollars, especially the 80 dollar level above. If it can start closing above 80, we can see a rapid movement towards 82-85 dollars. But as long as we cannot close above 80, I can say that I will wait for it to go down again and test the 74-75 band.

On the gold side, we made a rapid correction after testing the Bollinger peak in recent days. 2470s are very important for us, the pullbacks and corrections are currently balancing at 2470. As long as this level is support, upward positions can be followed. But in the short term, our resistance point is still the Bollinger upper band. This level will be at 2550s next week. As long as this level is not passed, there is a possibility that the reactions will turn into sales again. It is necessary to pay attention to this. If 2550s are passed, I can say that there will be a movement towards 2600s, but if 2550s cannot be passed, I can say that the days when we will test 2470 below are waiting for us. The one who is following the trail has also reached 2470s. If we see a closing below 2470, I will expect a pullback to 2450 in the first stage and then to 2420s on the ounce gold side. This also needs to be paid attention to.

An ascending triangle has started to form on the Bitcoin side. If closings above 62000s come, I was saying that we could see a rapid movement towards the 64000 - 67000 band, and we are seeing that. What we need to follow here these days is whether we can get a clear closing above 64600s. We will be able to clarify this a little more on Monday. The reaction we got from the 54400 bottoms also ended around 66000s. We saw a sharp sale afterwards. If the price can settle above 65000 during the week, it will turn positive and if it can make a new peak above the peak around 67000, I will expect movement on the Bitcoin side towards a new peak above. But if we cannot see permanence above 65000, a correction here may come towards the 62000 - 60000 band within the next week. This should not be ignored either.

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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