Oil Rises Due to Supply Concerns!
XAUUSD - Gold Technical Analysis
Ons Gold, which compensated the selling pressure it experienced after the announcement of the US CPI data with yesterday's rise, has a slightly sellers course in the short term in the morning hours. If downward movements continue, 2163 and 2155 can be monitored as short-term support levels. In case of possible recovery trends, 2177 and 2186 can be followed as resistance levels.
Resistances: 2177 / 2186 / 2195
Supports: 2163 / 2154 / 2145
XAGUSD Technical Analysis
Silver, which has accelerated to the resistance level of 25.07 with its recent movements, continues to move above the 9 and 13-day exponential moving averages, which we follow as reference indicators, although it is under pressure from this level. If the upward momentum in silver continues, it may move towards 25.07 again, and if it is exceeded, it may move towards 25.26 and 25.51 levels. Otherwise, if the pressure continues below the 25.07 resistance level in silver, there may be a retracement towards 24.83, 24.60 and 24.45 levels.
Resistances: 25.07 / 25.26 / 25.51
Supports: 24.83 / 24.60 / 24.45
EUR/USD Technical Analysis
Although the EURUSD, which tested the 1.0950 level and retreated as of the previous close, retreated, the rise above the 9 and 22-day exponential moving averages, which we follow as reference indicators, remains positive. In case of a new positive acceleration in EURUSD, there may be a movement towards 1.0950 level first, and if it passes above 1.0980 and 1.1010 levels. Otherwise, there may be a retreat towards 1.0930, 1.0910 and 1.0885 levels in possible reversals.
Resistances: 1.0950 / 1.0980 / 1.1010
Supports: 1.0930 / 1.0910 / 1.0885
NAS100 Technical Analysis
Although it remains below the 18140 level as of the last close, the contract continues to be positively priced above the trend with the 13 and 33-day exponential moving average, which we follow as reference indicators. In order for the upward momentum in the contract to continue from where it left off, persistence above the 18140 level can be sought. In this case, there may be movement towards 18375, 18590 and 18850 levels. Otherwise, in the retracements to be experienced in the contract, there may be a retracement towards 17800 in the first place, and 17600 and 17400 levels if it passes below it. Even if there is a pullback, the general positive outlook may continue as long as the main trend remains above.
Resistances: 18375 / 18590 / 18850
Supports: 18140 / 17800 / 17600
UKOIL Technical Analysis
UKOIL, which experienced a sharp rise yesterday with the decline in US commercial crude oil stocks and the possibility of supply cuts in the continuation of 2024, is also following a buying course in the morning hours. In UKOIL, which continues its movements in the horizontal band it has been in for a while, 84.55 and 85.20 can be followed as resistance levels in upward movements. In case of possible retracement, 83.75 and 83.50 can be followed as support levels.
Resistances: 84.55 / 85.20 / 85.55
Supports: 83.75 / 83.50 / 83.00
Wheat Technical Analysis
In the morning hours, 534.75 and 530.50 can be monitored as support levels in case of continued withdrawals in Wheat, which continues pricing movements in the negative zone. 527.50 can be targeted as a critical support. In upward movements, 543.00 and 546.75 can be monitored as resistance levels.
Resistances: 543.00 / 546.75 / 549.00
Supports: 534.75 / 530.50 / 527.50 Tags: Technical Analysis, Analysis, Forex