When looked at the daily chart, ounce gold tilted itself to the right in the range of 2427 and 2300, in a correction movement. Last week, on Friday, there was a strong movement from 2320 to 2370. It rose strongly from its 34-week moving average on Thursday, as it reached its 34-day moving average very strongly. Again, they made the correction above the 34-week moving average and we saw that they attempted an upward reaction attack again on Thursday of last week. But the reaction came down to the trend resistance, which had previously fallen from 2427. It came to this decline in the 2370s, where it encountered a falling trend resistance. The result narrowed the band to $50. Now we will see a strong movement in gold soon. But the real question is which direction? I think the $50 band above 2371 is a flat zone. You need to be controlled here. We will enter a new band in gold above 2371 towards 2427 - 2600. In other words, when it closes above 2371, we move into a new high-momentum zone where the upward long trade is confirmed.

Especially after the second closing, we can see that the movement towards the 2427 - 2600 region accelerates further. The important thing here, especially for those who think on the long trade side, is that we will either have a stop discipline below 2370. Or even if we are short, we should not be too insistent on closing above 2371. We will pay attention to this while managing this region both ways. My personal opinion is that ounce gold, which continues to remain above 2320, will keep the 2371 - 2427 potential one step ahead in terms of discipline. The risk here is; It corrects above the 34-day moving average and a horizontal discipline is formed here. If this level of 2371 is exceeded, we will continue to follow the upward movement discipline in ounce. But I strongly underline the if condition. Below 2320, 2320 traces gold towards 2254 - 2190. As it remains above 2320, ounce gold appears to be in a controlled upward trend towards 2371 - 2427. If it exceeds 2371, I remove the word "control", you know, I remove the word "cautious controlled long" there, and we see that the ounce becomes more and more hungry towards 2427. I do not read the ounce of gold upwards when it closes below 2320.

But there is also a clear accumulation of energy. There has been a rush lately. There is a compression caused by both falling and moving averages, which were put into the pressing machine. 2320 to 2370 will make an important decision in just 50 dollars. We'll see what happens with that decision now. Let's keep aside in terms of risk management that investors trading on the long side may be triggered by the 2254 - 2190 risk below the 2320s. Let's stay in a controlled upward reading as long as we stay above 2320. If 2371 is passed, there will be a clearer, more pronounced movement in the ounce, which will further satisfy investors.

Nasdaq continues its trend on the weekly chart. The technique tells us this. It's a correction, not a bear, unless the Nasdaq breaks its 34-week moving average. Because the bottoms rose above the 34-week moving average. Therefore, plain logic comes with rising hills. The trend continues. In order for me to say anything negative for Nasdaq here, it needs to show me two closings below 16778. Unless this condition is met and/or the Nasdaq continues to remain above 16778, I would like to add a pullback to Nasdaq 16778. As a risk, 18490 will continue to be the intermediate target and 20680 will continue to be the main target I expect this year.

Note the Fibonacci 1.272 of the 16767 - 10432 breakout. We had previously received a correction towards the trend when it reached 1.272. As a result, all the withdrawals of Nasdaq towards 16748 were seen once, the intermediate target of 18490. It will maintain its resistance modeling as a short pivot zone to be seen again. But 18490 is just an intermediate resistance. As long as Nasdaq remains above 16748, even if this figure is withdrawn, it will maintain its target of 20682, that is, Fibonacci 1.618 golden ratio. As a risk note, I would not read Nasdaq bullish below 16740.

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.