In general, we have been moving in a saw zone in a certain area in the last week. There was an upward movement with the positive news flow on a global basis. While gold was retreating, we saw a serious upward movement in Bitcoin. We don't actually see many of them moving negatively, in other words in the opposite direction. But when we look at the recent periods, they are negatively correlated. When I evaluate from this perspective, I think that the 94700 level is very, very important for new upward movements, especially on the Bitcoin side. If there are clear closings above 95000, it is likely to experience upward movement towards 100000 and then 107000 and 104000 as intermediate resistance. However, if we cannot get closings above 95000 here, it is useful to follow whether it will be able to support above the 92000 - 91000 band in the short term or not. If it can support above this range, it has the possibility of creating upward margin again. But if there are closings below the region I mentioned, that is, if 91000 is broken again, unfortunately, I think there will be a possibility of a pullback towards 87000 here, 85000 as intermediate support in the middle, and then 82000.
Bitcoin will continue horizontally and upwards for a while. I do not care about the 70000 - 60000 levels circulating in the market. For this, first the major indices need to collapse again. In short, the support level is 88000. The main support is currently at 80000. As long as we stay above these two levels, 104 at the top will come, followed by 135000 and 150000 targets.
I saw a small squeeze formation in Ethereum last week (sometimes the classics work) and it worked now, an upward break occurred. Even a small 1400 - 1800 movement lifted the safes by 60% - 80%. 2100 is the psychological resistance of the decline. If we can build on it, a summer rally atmosphere will be created. This year, sell in May, go on vacation, it may not work. At least I will take that risk. If the increases start in May, there will be a slight pullback in June and since I don't want to miss the rally, I will continue to wait in the market, whether it is a decline or an increase. Technically, above 2100 is a sign of strengthening in Ethereum. My target price expectation in the medium term is between 6000 - 8000.
We saw a serious correction from 3500 on the ounce gold side. Positive news flows had an impact here. Although the news released to the market in the US was positive, China-related, continuous denials came from China. Gold obviously did not prefer to buy these denial news again. We will continue to look at 3340s this week. If gold can get clear closings above the 3340 - 3350 band, there is a possibility that the movement will turn upwards again. But if the 3340 - 3350 resistance cannot be overcome, we will have the possibility of seeing the downward pressure increase again, and if the 3290 level is broken, we will see the continuation of the pullback towards 3170s after 3240.
I had stated that I expected a sale from the 3400 region. They took it a little higher and brought it to the 3270s from there. Under normal conditions, the decline should continue until the 3150 - 3050 range. If an extreme geopolitical situation does not occur, the short downtrend will continue. I updated my long-term ounce target to 4000 dollars, but they may not bring it tomorrow. In this process, short-stop trading is reasonable. As long as we stay above 2700 in the long term, all declines will continue as buy.
It is time to close your ears to how silver goes up while gold falls. A product that does not keep up with the rise of the ounce will also react limitedly to its decline. Technically, it is moving within a large wide channel. The band is 28 below, 35 above. Whenever we see prices above 35, a rapid 38 - 42 movement will begin. It is normal for it to move horizontally for a while, when the operation starts, everyone talks about silver. Silver mining companies can also be examined in the medium term. I maintain my target price expectation of 50+ dollars this year. As long as it stays above 28 dollars, I will accept all declines as a purchase.
How did we come to 60 dollars while everyone was expecting 100 - 150 in Brent oil. 5 contracts bought a house again with a sell at the 90 level. The OPEC meeting dates in May, June, July are important. Sudden jumps may occur on those days (8-10 dollars). It is evaluated as a selling opportunity again, don't miss it this time.
I am still positive in the long term in Nasdaq. For extra positivity, we need to close above 20300 for 2 weeks. Then it is certain that we will see the levels of 25000 and 27000. The main support below is 17500. As long as this level is not broken, I prefer to stay on the bullish side. I see every decline as a gradual buying opportunity.
The fastest recovering stock market on the European side was the DAX. Both the support from the Chinese side and the desire to enter the euro market brought serious upside potential to the stocks that remained cheap. Technically, 21000 is important, as long as we stay above it, the door to 25000 is open.
When Dxy was going up, everyone was afraid that the market would fall. When DXY collapsed, the market's fall was significant. Technically, increases up to 102 are normal. The main target is 92, all increases continue to be sell. Since 2023, the Dxy sell buy everything strategy has worked flawlessly.
The Core Commodity CRB major commodity index has been moving between 325 and 270 for a long time. If this index breaks the 325 level, even the silverware in the house will be valuable. We will watch a completely different gold, silver, platinum, copper. Those who do business in the commodity side should watch this. The chart is prone to breakout, gold alone will not lift this place, but if they all move, we can talk about a major commodity cycle.
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.
