This weekend’s analysis will cover the Dollar Index, Bitcoin, Ethereum, NAS100, SPX500, Gold and Silver.
The DXY has found a strong support on both the monthly and daily charts. DXY has officially also broken it’s weekly closing resistance level and I think a shift in momentum will propel DXY up higher in the next week towards a target zone of 99 to 99.600.
Bitcoin is still in a correction and currently paused on the weekly 21 EMA, I think it’s consolidating sideways and will continue selling to the intended target of $102k in the coming week.
ETH nicely came to the previous resistance and seems to find some buyers there but there is no momentum or RSI strength to support an upward move, so I am bearish on ETH and think the price will fall some more into the target zone below $3,823.
NAS100 and SPX500 are also looking quite over stretch on it’s Bollinger Bands and KC channels on the weekly charts, with weekly bearish candles suggesting a pullback in the equities is very likely in the next coming week.
Gold and Silver are in a strong uptrend and the uptrend will continue but I see profit taking on the charts. I expect some sideways consolidation and a minor pullback before the bullish continuation.
I thank you for listening to my publications and I wish you a great trading week. Cheers everybody!!
