Sirwin
Sirwin

My Thoughts on Current Markets-96


Dow Jones tested the Bollinger upper band during the week and received a reaction. Here, it should not fall below 38900's and 39000's in particular. Because it came so close. If it starts to take closings below 39000 or below 38900, we will expect a correction towards 38500 - 38600, as it has done in the past. In this respect, it is important that it has not come much below the Bollinger since the upward trend clearly started and the movement became harsher. Even though it tested the gold, it always closed above it. Observing this may indicate a trend that may be horizontal for a while if it starts to stay below. It is useful to follow this aspect as well.

There is a faster course on the Dax side. In the previous move, the Dow Jones was fast, while the DAX was slightly more sideways up. Now, when we look at the last period, the dax side has accelerated even more. While interest rate cuts are postponed on the US side, we can say that Germany makes an extra contribution here as it is said that it may happen a little earlier on the euro zone side. In a possible correction, we will pay attention to whether we can stay on the trail, where the main level appears to be 17500. A possible correction is considered normal until 17500. But I think we need to be a little more cautious and careful below 17500. If such a situation occurs and the closings below 17500 start to increase, it may pull us towards the 17000 17150 - 17160 band. Let's pay attention to this too. To summarize, there is no problem above 17500. If it falls below 17500, we can say that it would be better to be cautious.

After a long time, gold closed above the 2080 level, which is the main resistance level that we have always mentioned, and it is just above Bollinger. What we will pay attention to here is whether a bar independent of Bollinger will come or not. If several independent bars appear, the move will be supported by upward support. In such a case, the way for the summit movement will be cleared. Our peak was around 2150. If bars that do not touch Bollinger start to appear above Bollinger in the coming days, we will have received the sign of this. When the movements fall below 2080 again and we start to get closures below Bolinger, the saw movement will continue for us with small deviations. Let's pay attention to this too. It will rise slightly above 2080, above Bollinger, or even 2080.44 if I say the exact number. As long as we stay above this level, there is no problem. The upward movement can be supported, but if we turn around and start to get closes below 2080 again, we can interpret that the downward pressure will still be felt here again, and in the first stage, the 2040 support will be important for us on the gold side.

In order for a net upward movement to occur in silver, at least the movements here are a little harsher than gold. At least on the way up, it can't go very far with the gold, it can't adapt. But he can move a lot when coming down. Except for Friday, it closed at a slight premium over gold. Here, especially if the 23500s and 23700s start to close above these two ranges, the 23500 - 23700 range, silver may move to the leading side. It is necessary to be careful in this respect. If he cannot achieve this, it is still useful to be cautious. Similarly, it will continue to make corrections, and the sales that come back from here bring us to the 22300 - 22000 band. If it cannot pass this range again, the 23500 - 23700 range, we have the possibility of going back and testing these supports. In this respect, I can say that it would be beneficial to act accordingly on the silver side.

Brent has supported Bollinger for a long time and continues to take closes above it. With the movement of commodities, we have seen an upward movement here as well. On Friday, 82,500 was one of the important resistance points in the short term. It started to close above this. This situation may continue. In other words, if it can continue to close above 82,500, it can move up to the 85 - 87 band in the next week. But we turned around and started to get closes below 82,500 again. You need to be a little cautious here. In such a case, it creates the possibility of falling under Bollinger again, and at the same time, since our tracking level is at these levels, it may reverse the trend and movement again. This may bring us back to the 78 - 76 band. Let me pay attention to this too.

Very rapid movements started to occur in Bitcoin. After the first ETF approval, we drew attention to the movement in gold after the ETF approval. After the ETF approval, we made a similar correction of approximately 20% after the upward movement. We went to 50000 dollars. We made a correction to $39000 on the bitcoin side. Afterwards, the upward trend started again. It went up continuously after this trend started, without falling below the trace period on any day. The movement in gold has quadrupled after the ETF approval. Even if we don't expect it to be 4 times higher, I say it because it is considered a different instrument and is considered digital gold. Aim for the 80000 - 100000 dollar band in the future. It can be thought that you should aim for it in the next 1-2 years. For particular attention, it should be noted that we tested these places at the 60000 trace level. We got reactions, this was important. We do not want it to fall below 60000. If we want this movement to continue like this, a sharp correction of approximately 10% below 60000 awaits us. Let's pay attention to this. We do not want to close below 60000. If an upward movement is expected, especially $63000 above has been our resistance in the last 3 days. Whenever we start taking closes above 63000, the 66000 - 69000 band will continue to be short term targets for us. Let me specifically point out here that the level we should be cautious about is below $60,000.

 

 

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