My Thoughts on Current Markets-243


We saw a serious sell-off on the Brent side. The sell-off from 76 caused a close just below the 74 level. 74.5 was one of the most important supports. Here, we may come back to the 73 - 71.8 band. Above, 76 showed us once again that it is an important resistance for us, especially the 76-77 region. As long as this level is not exceeded, the saw zone may continue to be above 73.50 in the short term, again in the 76 - 77 region. But if there is a downward break here, I can say that there is a possibility that this movement may come back to the 73 - 71.8 band.

Brent is still technically targeting the downside. It peaked again with war and inflation, but they are taking it down immediately. Technically, the 60 and 50 levels are still on target. This period will be a period where even those who say it is theirs will be ruined. I wrote about this at the beginning of the year. Everything that is said to be impossible can happen, so pay attention to your risk perception.

We see that there is an effort to hold on to 2940s especially in ounce gold recently. We see that the pullback is trying to find balance on the Bollinger band below, which is also the one that is following, especially after breaking 2650s and starting to close above it, it never closed below it. The point was tested as support but then there were upward reactions. Here is what we need to follow for the next process. Especially 2900 levels are important for us right now. As long as it does not fall below 2900, there is no problem. It can continue its movement of 3000 dollars. But especially in 2940s, there is an important resistance point in the short term, as long as it stays above 2900s, there is no problem. But if 2900s are broken, I can say that a correction can be mentioned up to 2860 and then to its old peak of 2790s on the gold side.

Ounce gold entered a short-term narrowing structure. Below 2900, 2970 became important at the top. In short, our 3000 target has almost been achieved. Of course, there is no rule or concept that we will sell at 3000 as a point. There is no change in the main direction. I will continue to meet all declines that may occur up to the 2700 - 2800 region as a buy. The main target price expectation is the 3400 - 3600 range.

I think everything is ready for ounce silver now. I still maintain my extreme positivity on the silver side. As long as we do not lose 31.50 below, the rises may be slow or fast. Below 31.50 will put it in hold mode again.

On the Bitcoin side, we especially saw an attack up to 99000 last week. But on the last day, we experienced a pullback from here to 95000 with hard sales. As long as it can stay above 94000 - 95000, there is a possibility of upward attacks again. But if this level is broken, the 91000 level is the bottom level of the saw range. This is especially important to pay attention to. As long as 91,000 is not broken below, there is no problem, but if it does break, I can say that it would be beneficial to be cautious on the Bitcoin side.

I think the BTC side will be very volatile this year. For now, they are not allowing it to rise and fall. But when the time comes, we will see sudden explosions, then sudden meltdowns. My medium-term target price is 150,000 - 180,000, if they exaggerate, it continues at 200,000. Technically, we need day closings above 107 to be clear.

Ethereum is digesting the hard sell. Yes, the graphics are broken, everyone is afraid, no one is buying, but I think they will soon throw the fact that it is the second largest product in the market in our faces.

Although DXY struggled a bit, the technical breakout occurred and we saw a long time up to 106.50, positive news is needed for the continuation, and the news of the new virus from China last week spoiled the market a little on the last day of the week. The increases up to 108 are the levels that can be risked for selling. The real big relief will be below 105.

We have reached the 22500 and 23000 levels that I have been talking about for a long time in DAX and we are under technical pressure. It is normal for a DAX that ignores both the election expectations and the risk scenarios in Europe to ease up to 22000. Drops below 22000 - 21800 will cause problems in the short.

Nasdaq tried a new peak last week but was rejected again. We are now back to the short support area. The intermediate support level is 21100, the main support level is 19900. The level I base on is 19900, if we are above this level there is no problem. If we are falling below it, I say there is a problem and I get away from the positions. The level that we will call risky is the 25000 - 27000 range. It can push and push its way up to there until it is above 19900.

The USD - JPY that has been eating our months is finally dropping again with the interest rate hike. It may see some reaction from these levels but we will come back to 140 levels. Every day it stays below 158.50 is the target of 130.

The euro zone, which does not want to lose its export power, officially brought the eur-usd back to 1.02 levels and they met with demand. At the top, 1.05 is still an important resistance, if we can pass it, 1.08 - 1.09 may come to the agenda, if we cannot pass it, the 1.02 - 1.05 band movement will continue for a while.

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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