Euro - Dollar parity is completing the week above 1.09 level. Euro - Dollar parity is at 1.0931 level, and our expectation is 1.12 - 1.15. There is no distortion here either. However, technically there is a band gap below, such as 1.0850 - 1.08. Maybe these places can be tested a second time. But the general trend is upward. I will continue to see every decline as a buying opportunity.
On the ounce gold side, it continues to hover between 1990 - 2000 dollars. It seems like it will settle above the $2000 level. After that, it gives the impression that it will continue its upward movements. In other words, it does not want to move too far from the $2000 level. As our road map is known, I continue to wait for the 2350 dollar level in 2024. There is a $1960 support level on declines and pullbacks. It will remain on the table until the end of the year. There are 2030 - 2045 dollar levels above. That's why I will continue to follow the 1960 - 2045 dollar range. But the general trend will continue its upward movements in the medium and long term. Especially in 2024, you can see the 2000 dollar level as the bottom level on the ounce gold side, and after that it will continue its upward movements rapidly. We are faced with a trend that will continue its upward movements after June, especially in the 2nd half of 2024.
The ounce price of silver is at $24.25. It settled above the $24 level again. I often state that declines will not be permanent and declines will be buying opportunities. There is a value increase of 1.72%. Due to the ratio, my target point on the ounce gold side is 26 dollars. Even if there are short-term profit sales, you control your position accordingly, the target level is 26 dollars. In December, there will generally be rapid increases on the silver side. Maybe there may be a trend formation that even dethrones gold.
Oil prices are at a significant $81.33 level. There is an OPEC meeting on Sunday and it is very important. The direction of oil prices will be clear with the decisions to be made at the OPEC meeting on Sunday. It currently continues to be traded between 80 - 85 dollars. We have seen a short-term pullback. These are fake declines below the $80 level. But from now on, I personally expect a trend targeting the $90 level.
The declines in palladium prices were significant and later rose above the $1,000 level. I have been commenting especially on the Palladium side for 3 weeks. Because it has retreated sharply below the $ 1000 level, alternatively, those interested in palladium should know that it is at the level of $ 1071. I continue to wait for the $1200 and $1250 levels.
There are strong movements on the Bitcoin side again. There is currently a 1.21% increase in value at the level of 37735 dollars. And the oppression and manipulative movements here continue. We continue to focus on pricing that fluctuates in the broadband range of $35000 - $40000. Incoming news flows cause sharp fluctuations. I do not predict that any bull market will start an uptrend again. But I predict that there will be a positive trend and an upward trend in the cryptocurrency market in 2024. However, those who have not entered the cryptocurrency market yet should not enter this market with all their assets. He especially needs to be a long-term investor. At least when it goes bankrupt, it needs to be evaluated on this side with an amount of money that will not hurt it. So please, you need to pay attention to this side, this cryptocurrency market.
The dollar index was at 103.36. American markets are closed for Thanksgiving. Here I would like to express that I expect a decline again. Especially the decreases in the dollar index will inevitably affect the assets against the dollar positively.
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.
