When looking at the daily gold chart, the ounce continues to break records. There is a trend that sits above the $2700 level. If there is a trend, you make money wherever you buy gold. Right now, the uptrend continues. Now, let me do a technical analysis first and then I will have some warnings. Now we are going upwards. Now, the uptrend channel continues upwards here. In other words, there is no questionable situation in terms of trend. Therefore, 2688 intermediate support, 2654 short-term main support, and 2580 continues to be the medium-term main support. It has reached the 2743 resistance, the Fibonacci channel. Pay attention to where it stops on Monday. Fibonacci stopped in the intermediate resistance target channel. As long as it stays above 2688 - 2654, it will pass 2743 and maintain its potential for 2855. This trend-riding discipline may only want to correct somewhat towards 2706 and 2688 if it cannot close above 2740 - 2750.
As long as it remains above 2688 - 2654, resistance may form and retreat from 2740 - 2760. This does not disrupt the upward discipline and the potential for 2855 continues. If 2654 is broken rather than 2688, that is, if multi-hour closings begin below 2654, the bear will press 0ns to 2580. There will be a bear attack close to $100. Again, the medium-term trend will not be broken, but there may be a bear attack. As long as it remains above 2688 - 2654, 2740 - 2750 will continue to be the intermediate target and 2855 will continue to be the main target. My personal opinion is that the ounce of gold will not go to 2855 without any correction. As long as it remains above 2688 - 2654, it is positive, and right now it is at 2743, it will pass in terms of perspective with or without correction. But they can sink gold into a little water before it reaches 2855.
Looking at the daily chart of ounce silver, the trend is up and strong, there is momentum but they will correct it because it is moving away from the moving average. The risk of correction towards the moving averages increases as it moves away from the moving average. It will pay attention to its position of 32.40. If 32.40 is broken, it will turn into another round of sales towards the 30.60s it approved. We will follow the 30.40 support strongly to manage short-term risk. Therefore, as long as it remains above 30.40, the discipline of following the movement towards $35 upwards will not be broken. But $35 is the Fibonacci 1.618 golden ratio target area. In my personal opinion, there is a risk of silver, which has moved so far away from the moving averages, to see a correction before or after reaching $35. Look, I am not saying the trend will end, the concepts should be understood correctly, you cannot say the trend will end at $35.
Because in order to say the trend is over, it is necessary to see that 32.40 has been broken. Therefore, my personal opinion is that as long as it remains above 32.40, silver will try to reach 35. However, as it approaches $35, investors can manage the risk of a correction with $32.40, even though it is in a strong trend curve due to the moving averages remaining below. If it breaks 32.40, they will correct. Therefore, there is no need to go into detail. As long as it remains above 32.40, $35 is the short target for silver, and the general big target continues towards 38 and 40. However, a small trading discipline note here, investors who have not made any cost so far should follow very carefully whether $35 can be exceeded or not. Otherwise, they may remain in a wrong cost.
When looking at the daily chart in Bitcoin, 65500 is a short-term important support point for an upward discipline. 65500 is a major, short-term important support region for an upward discipline. As long as it stays above 65500, although the cautious mode is on because 69300 has not been seen and passed, it is right not to say that this is over yet. Because if it stays above 65500 and accumulates energy in this region, it will explode upwards if it makes a relative flag-like movement. Therefore, it is of course the investor's choice whether to sell or not because it has reached resistance. But a correct discipline says that when supports are broken rather than resistances, the risk should be taken under control. Therefore, I will follow Bitcoin as 65500 intermediate support. I can state that investors who do not make new costs in the 69300 and 65500 region until 69300 are passed, in my opinion, are not doing the right thing.
If you play that 69300 will be passed between 69300 - 65500, you need to ask yourself if you can stop when 65500 is broken. Because while you are playing for 69300 to be passed, if 65500 is passed, while you are waiting for 75000, they introduce you to 59700 - 57000. This is where the discipline aspect of technical analysis comes into play. As a result, 65500 should be followed seriously. As long as it stays above 65500, the possibility of passing 69300, even if weakened, will remain on the table. However, since it has not been able to touch and pass for 2 - 3 days or even 4 days, I advise it to be a little controlled here. If it passes above 69300 and gives us a closing, if a 69300 that has been a resistance for 5 - 6 times is passed, bitcoin will switch to the 75800 - 83100 path. It will not go away immediately, but the water will start to flow there. The set at 69300 is lifted and the water starts to flow there. Therefore, 69300 - 65500 is a region that needs to be followed very controlled. Because it has reached its short-term target. Under 65500, Bitcoin tickles towards 59700 - 55000.
When you look at the daily chart of the S&P 500, there is a gradual band transition in the uptrend. Increases or decreases move with certain dynamics. We see this very clearly in S&P. We are approaching the Fibonacci golden ratio of the 5600 - 5100 decline every day. As we approach the 6009s, which is Fibonacci 61.8, the bar lengths started to become stubby. If you pay attention to the last days, there was a pressure and a contraction. The bear started to growl slightly. As we approach this 61.8, you know, if you hold the magnets upside down and want to go, they push you, this is what I want to tell you. Here, the target is 6009, but now the feet are under control. Here, it is very important to read technical discipline correctly. You can make money when there is a trend. When the trend ends, you cannot make money even if you buy the most valuable company in America. Discipline is only one in capital markets. If there is no trend, you cannot make money. As a result, if America breaks 5800 - 5740, whether S&P goes to 6009 or not, a short-term major downtrend may begin and the trend must be abandoned. If S&P closes below 5740 with a downtrend target of 5660 - 5550, the short-term trend in S&P ends and it is necessary to be under control.
Now, then, as long as S&P stays above 5740, I will continue to follow the controlled optimism. It is necessary to be under control, not optimistic. Because the bars have become stunted, there is some loss of power. The target is 6009, but now I have slowly started to pull it to a controlled tone. Therefore, the result is 5800 intermediate support, 5740 s&p short-term main support. Under 5740, s&p enters a short-term downtrend towards 5660 - 5551. A permanent short-oriented discipline will not be correct unless 5740 is broken. In case 6009 is exceeded, the stubbing in bar lengths gives way to long bars. The rise enters the spoiled phase. It enters the spoiled phase towards 6056 and 6500. It should be said that the spoiledness was cancelled in the closing below 5740, I should be on the defensive. If we see a closing below 5740, 6009 - 6056 - 6550 may come into play in the next step, but I should be on the defensive, we will say if 5740 is broken. As long as 5740 is not broken, continue to focus on the 6009 target. However, I warn that it may be useful to keep our contract weights or lot weights balanced.
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.
