When looking at the daily gold ounce chart, the uptrend continues. Below 2548, there is a very big medium and long-term support position for the ounce of gold. Gold, which remains above the 21-day moving average, will maintain its trend. If you look at the history of the chart, it has experienced corrections within the uptrend whenever it reaches the Fibonacci resistance. What we are experiencing now is that we are currently experiencing this due to reaching the resistance at 2790. I am not saying that the gold trend is over, I can say that it is in a very short horizontal rest or correction period. In this sense, the ounce of gold can rest in the 2706 - 2790 band for a while. Unless there is a closing below 2706, I will be following a scenario of a return to 2790 again. If we are in an upward trade towards 2790 or a long trading cost that has been coming for a long time, we should say the following below 2706; The horizontal correction period towards 2660 - 2620 may enter a suppressed and significant downward correction period. Here, investors who have high short-term costs and want to protect their profits to the maximum would have a correct reflex to take the steering wheel a little bit at the closing below 2706 and switch from the automatic pilot, i.e. the trend pilot, to the defensive pilot.
After the ounce above 2706 is under pressure for a few days, it will continue its upward effort towards 2790s after being under pressure for a while. There will be volatility in global markets after the election, I don't expect much, but if it does, if it blows a fuse towards 2624 - 2548, I will read it as a buying opportunity. I don't expect the movement to remain in correction until 2624 - 2546. But if there is global volatility with the election, the American elections will end tape by tape, watch out, they surrounded the White House with fences on Monday. If this result ends head-to-head, if Kamala wins slightly above Trump, Trump could cause chaos. Trump already said he won't accept it. Investors shouldn't miss this news. Now then of course the ounce of gold will tend to go up. In other words, since gold loves chaos and crisis but I am not saying it because I expect it, I am putting an if as trading, if it blows a fuse to 2624 - 2548, I will be a buyer here. I am not saying the ounce of gold will fall to 2546 dollars, I think it should be controlled below 2706. Because then the story changes. The investor should continue to make money wherever the trend is, to look for yield, but should know when to leave when the trend ends. One of the most important features of the ounce of gold is that it sleeps for years, it gets up hard when the bull gets up. Remember that the bulls of Bitcoin and gold are fast, the bears are long.
They ran Fibonacci 1.618 on the ounce of silver daily chart. Staying above $32 is relatively positive for silver. For those who do not have a position, it is a region that should be watched a little, in other words, is 32 working or is 35 exceeded. If I say silver went from $26 to $35, I don't want to miss the next wave, you will stay in the wave. It is useful to be calm. As a result, if it stays above $32, there may be a desire for silver to go up gently, not like a bazooka towards $33.5 - $35. If you ask how you read the silver daily chart, if I have a position once, I will leave here when it closes below $32. If it comes towards 30.60 - 29.90, I will re-enter the position I left. As it stays above 32, I will lower my position appetite level and wait for it to rise again towards 33.5 - 35. However, I will not stay in a contract as heavily as it did when it went to $30.60 and $35. I will be more controlled. 30.60 is relative support, 29.90 is as strong support. I will stick to the position there.
When looking at the daily Bitcoin chart, if the American elections are clear and above 68700, Bitcoin will trigger momentum towards 75800 - 83000. In my opinion, Bitcoin is coming with a very aggressive volatility and will cut the ones that are left in the opposite direction piece by piece. I read the price above 68700 flat. I see it first and then I react. Therefore, if there are those who hold a position in the major here, I would like to remind you that you should not insist below 67600 - 65500. As a result, 67600 - 65500 can be followed as short-term support. As long as it remains above these regions, it may be possible to move towards 75800 - 83000, provided that it is not too insistent and that it is not comfortable, provided that it is very careful, and that it is focused on the American elections. There is only one truth in the world, and that is price. This chart is above 67600 - 65500, controlled upwards with a target of 75000 - 83000, below 67600 - 65500, they introduce this chart as 60700.
When looking at the daily chart of S&P 500, it may enter a short-term downtrend, but the medium-term downtrend will be a buying opportunity and will go to 6000. Managing strategically is one thing, managing as trading is another. S&P will go to 6000, but since it has broken its short-term trend and we do not know how long the correction will be in time and how much pressure it will receive until which price cycle, waiting strategically is another thing. Managing money as trading is another thing. In this sense, if I see the second close above 5819 S&P 500, I will buy this chart with a focus of 6000. Unless I see a second day close above 5819, I will not be afraid by including the risk of 5819 - 5612 or even 5550 in my structure. Because I know that America will go up, but I will go into the bush and wait like a snake in ambush to take a position. You cannot manage a position in the capital markets with fear, and you cannot manage it with enthusiasm either. My personal opinion is that if America closes above 5819 for the second day, S&P will finish its correction and say new beginning towards 6000. Attention, unless 5819 is passed, 6000 target can be strategically kept in reports and pockets, but it will not be managed correctly as trading. 5669 - 5612 interval, 5550 are S&P's supports. If they crush this chart towards 5550, I will buy it without waiting for it to pass above 5819.
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.
