Nasdaq did not back down from my word last week and approached the new ATH level. I continue to fill and empty. Technically, the 22400 - 23000 area may be a candidate for another round of selling. Of course, if there is no additional correction this week. The medium-term target price has become 25000 - 27000, the bands have started to change. In the short, the support level remained at 21200. The main support level is at 19700. All game plans are valid if 19700 is not broken.
I was expecting a 22000 movement after a horizontal zigzag in Dax for a while. However, we came to 21700 with a single wave of rise. It is natural for it to be horizontally sold for a while and to separate from the US. Of course, the sale may not be very deep. But the way is empty because there is no longer a resistance it can break and blindly looking for a sell is just suicide.
Those who expect a collapse in the market should watch the S&P 500. Unless the 5500 level is broken, those who write a scenario of collapse etc. are 99% just thinking. The reference number is 5500, if we are above it, there is no problem, if we are below it, there is a problem. The level changes day - day, week - week. Also, there is an SPX that is far behind Nasdaq. That's why I expect this place to move a little harder.
The ounce of gold has undergone a small correction from the new ATH region. There is no reason not to mention the number 3000 anymore. Many theses can be written about gold. The ounce of gold has advanced 7 - 8 times in history on average in 10 - 15 year cycles. If we take the date the movement started on June 19, 2019 as the bottom price of 1000, it should be at least 7000 dollars by 2029. Of course, there is also the possibility of falling from 3500 to 2000 and continuing in this scenario. History says that you can buy a medium-sized house in every time zone and country in the world with 5 kg of gold. That's why the saying that gold always finds its value is true.
The ounce silver side still hasn't caught up with the momentum. However, the charts are still in very good shape and there are signs that it is gathering strength. The support level for those trading short is at 29.60. I think we will see a completely different silver when we go above 32.50. As long as it stays above the main support level of $25, I maintain our target price expectation of $50+ for the year 2025.
The ascending channel has finally broken in Dxy. Of course, the declines will not be in the form of a waterfall, but I think we will see below the level of 100 again this year.
My 1.05 analysis worked clearly in EUR - USD last week. If Europe wants to get out of the crisis, it should move the euro to the 1.08 - 1.10 band.
Brent oil should now return to the demand zone after a good momentum last week. Our target price expectation for 2025 is $50. Every exit continues to be a selling opportunity.
There is no technical abnormality in Bitcoin. The only abnormal thing is the serious crushing of altcoins. Yes, etf applications are flying everywhere. That's why the btc price is not relaxing. There are a maximum of 40 days left for the horizontality to end (any day in 40 days could be even tomorrow). As long as it stays above 99000, I expect it to settle in the 113000 - 120000 region. Some time is needed for higher levels. If the medium-term target price expectation of 150000 - 180000 is exaggerated, it may come in 200000. We need to go below 58 now to relax in BTC dominance. It is likely to happen at an unexpected moment. The cartridge may be pulled. The real rally will start below 55.
Everyone is asking about Ethereum now. Why hasn't the altcoin rally started, it is not starting, it is delayed, let me explain in simple terms. Altcoins keep the money they earn in their vaults as eth and btc as weight for extra earnings. Those who keep it as btc reacted upwards. Those who hold Ethereum as a weight are waiting for Ethereum to go up. The 4-5 month rise period that comes every 4 years has been very challenging, but we will be the winners again. I don't care about the bull is over and similar statements. Because it is forgotten that coins have money in their own vaults. Even if there are sudden jumps, that bull will happen. Technically, we are stuck between 3000 and 3500. If 3500 is passed, we will see a movement towards 3700 and 4000. I don't look at it as fast or slow. But all movements in this sector have always been fast. 4100 is our main resistance, and we will be able to say we are done the day or week it is passed.
A possible war softening can seriously jump Rusell 2000. Technically, if we are above 2100, the area up to 3000 is open.
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