Watchlist: Ethereum, Gold and Oil

Important News

  • With the US Treasury bond yields declining, a retreat to 91.97 was recorded last day.
  • US stocks soared with the withdrawal of the index. With an increase of 4%, it recorded the strongest rise since last November.
  • Major against the dollar were also on the rise the other day. closing the day in the 1.1900 region and approaching 1.3900.
  • however, it retreated from its annual peak at 109.23 to 108.408, but started today with an upward acceleration by reversing losses.
  • The rise was strong in the commodity-backed parities as well. Retrieved zone 0.7700. On the side, the price trended sideways as oil prices weakened against the weakening of the dollar.
  • On the side, an increase up to the level of 1715 was recorded. ended the day with vendors at the level of 63.80 per barrel. In the US Energy Information Administration’s Short Term Energy Outlook report, the global oil demand forecast for 2021 was reduced by 60,000 barrels per day to 5.32 million on a daily basis.

Technical analysis

XAU

We are in the consolidation period today in the Ounce Gold prices, which broke the resistance of 1695 and recorded a rising wave up to the level of 1720 in the past day. So far the price has tested the 23.6% fibonacci support at the 1710 level. During the day, the price can be expected to pull up to 1703. If the price movement in this region approves the conversion to support, buying-side transactions become advantageous in terms of risk / earnings ratio.

On the other hand, 4H and above candle closing below 1700 will put sellers in an advantageous position. Breaking the 1700 psychological support could pull the price back to the 1690 – 1685 and 1670 regions. On the upside, price awaits the resistances of 1720 – 1730 and 1744, respectively.

  • Resistors: 1720 – 1730
  • Supports: 1705 – 1690

ETH

The positive correlation with the side continues. The price retraced to the 1750 zone after testing the 1872 resistance the past day. In the short term, if the price closes 4H candles above 1850, buying is expected to increase. Above await resistances of 1870 – 1911 and 1980 respectively. On the downside, 1730 is the critical support level. Below this zone, the 4H and above candlestick closing can pull the price down to the levels of 1690 and 1640. The buying momentum seems to be dominant in the current price action.

  • Resistors: 1830 – 1850
  • Supports: 1730 – 1690
WTI

Selling pressure on oil prices increased after the US Short Term Energy Outlook report last day. The price is withdrawn up to 63.08 support at the time of analysis. It is observed that the RSI has reacted to the 43.42 level in the past on the 4-hour charts. The price approaching the 43.42 RSI support on the 4H chart and the positive momentum mismatch on the 1H charts indicate that the price may rise to 64.00 and 64.30 in the short term. Trading from the region where the price is currently located may be suitable for momentum strategies. Above the price awaits resistances 64.00 – 64.30 and 64.70, respectively.

On the downside, the 4H candle closing below 63.08 will pull the price to the gold ratio at 62.60. The last short-term major support for the price is in this region. If there is no return from this zone, the playing field is opened up to 62.01. Purchases seem dominant in the short term.

  • Resistors: 64.00 – 64.30
  • Supports: 63.08 – 62.60

Disclaimer: Investment information, comments and recommendations contained herein are not within the scope of investment consultancy. The investment consultancy service is offered individually, taking into account the risk and return preferences of the individuals. The content, comments and recommendations contained herein are of a general nature, which are not in any way directive. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. The author is not responsible for any gains or losses that may arise as a result of the investment, information, comments and recommendations contained herein.

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