My Thoughts on Current Markets-240


The downward trend in Brent oil continues. Brent has recently continued to support countries that are fighting inflation in particular. The trailing level was passed, it breaks upwards at 72, then there is movement up to 82 without being violated. Again, the trailing level breaks down with the Bollinger band and continues downwards from 79 without giving a daily close above it. In other words, the trailing level will be the one we will follow here again. The trailing level is at 75.6, 75.6 is our main resistance point as long as there are no clear closes above it in the coming days. Unless the reactions that come cause a close above it, it will continue as a selling opportunity. The 73.6s are especially important for us below. If this is broken, I expect a pullback in Brent oil towards 73 and then 71.80s below, and then towards 70s. This should also be paid special attention to.

For the last 3 days, ounce gold has been more or less a resistance at 2870s, the Bollinger band, and there are no closes above it. When we start buying independent bars, that is, bars that do not touch Bollinger, then gold can try higher levels a little more strongly. But if it cannot do this, that is, as long as it does not see clear closings above 2870s, that is, bars that do not touch independent of Bollinger, downward pressure may start here. At the first stage, this downward pressure may bring us to 2820s. Then, it may test the old peak of 2790s. As long as it does not break the old peak, this will be a confirmation move. After confirming the support, after testing the old peak, there is a possibility of a strong upward reaction again. If we see a closing below 2790s, this strong movement in gold will be paused for a while and the downward pressure will continue. The only risk right now is that it has reached Bollinger and its pressure is felt. If Bollinger is exceeded, it will be positive again, but if Bollinger is not exceeded, a correction seems imminent to me.

On the Bitcoin side, I had stated above that as long as we could not exceed 107000, we could see a correction up to 91000. After testing 107000, we were again touched by the needle bar at 91000. There were reactions afterwards, but since we could not get above the Bollinger band again, we saw that the downward pressures increased despite the attempts. Here, especially in the short term, 94700 are important levels, if it breaks, we have the possibility of testing 91000 again. As long as 91000 is not broken, there is no problem. If it does break, we may experience a rapid pullback towards the 87000 - 80000 band. Therefore, I can state that it is useful to pay special attention to 91000. Above, in the short term, especially the level above $ 100000 corresponds to the first stage of the trace. Reactions before this point is exceeded will also appear as a selling opportunity.

Ethereum reacted strongly again after testing 2200. Afterwards, staying below 2670s seems to increase the downward pressure a bit more. If 2670s are exceeded in the coming days, we may see a movement especially for the 2840 - 3000 band for reaction. But I can say that as long as 2870s are not exceeded, it seems like Ethereum is preparing to pull back to 2300 again.

On the Dow Jones side, the 45000 levels have become resistance, and here we saw a serious correction especially after reaching Bollinger. When the reaction came close to Bollinger again, it caused another correction. 44300 - 44200s are important for us, if this level is not broken, there may be a reaction again towards 45000s. But if these levels are broken, we may see the pullback continue on the Dow Jones side especially towards the 44000 - 43600 band.

Germany is a little stronger, although there has been a sell-off from the 22000 limit, when we look at it in general, the DAX side continues to be a little stronger. The main support point can be seen as 21600. As long as we overcome the pullbacks above this level, there is no problem. But if 21600 is broken, I can say that it would be useful to be cautious on this side as well.

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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