The Nasdaq is fluctuating within a rising, scattered channel, testing support and resistance levels. A period of sideways movement after a 7-8 month rise is healthy. While a Christmas rally is possible, I expect a partial positive move. 25,000 is short-term support; a drop below this could retest the dead zone at 24,000. In the medium term, I continue to expect the 32,000-34,000 range, provided 23,800 is not broken.
The Dax benefited from the partial positive turn in US stock markets. 23,000 remains the main support. As long as it stays above this level, dips are buying opportunities. The medium-term target is the 27,000-30,000 range.
The DXY continues in the same way as the chart from two weeks ago. This week, Japan has its interest rate decision, most likely an increase. There is a fear of a carry trade decline in the market, but hedge funds have adjusted their positions accordingly. The DXY will likely ease back towards the 97-95 region. If we fall below 95, the first target is $90. In parallel, we will see strengthening in the Euro, GBP, AUD, and NZD. There's a large bull flag on the EUR-USD chart. If we break above 1.19 again, the 1.23-1.25 range will come into play.
Silver finally achieved the expected rise. I closed my positions at $64. Technically, the 50-year resistance has been broken. In the medium term, targets of $80, $100, and $150 may be seen. However, for this to happen, the $50 level must not be broken downwards. In the short term, $60 is a trailing level. If you try to sell immediately, you'll likely lose money.
Gold has surpassed the 4250 level. For the momentum to be clear and upward, the previous peak must be surpassed. This move seems a bit speculative to me, but interpreting it technically is more productive. Since 4250 has been surpassed, buyers are currently active. For them to reverse, the 4170 level is crucial; as long as that level isn't broken, the price will likely be in the 4500-4700 range, and if they exaggerate, 5000 could be the ultimate target (I think it's too early). If 4170 is broken, then the alarm bells will ring down to 3800.
There's still no change in the Bitcoin chart. 88000 is short-term support, 80000 is the main support. There's no reason to get excited unless 93000-94000 is clearly and permanently broken.
Technically, there's no abnormal change in Ethereum. Short-term support is at 2800. If it wants to rise, 3400 must be broken in the short term and 3800 in the long term; otherwise, it will continue as a horizontal downtrend.
We've entered dangerous waters again in Brent oil. If a reversal doesn't occur from these levels, the 55 level will come back into play. A close above 64 is needed for a trend band reversal.
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.
