ALB Limited 20.05.2024

Precious Metals Continue to Renew Historic Peaks

XAUUSD - Gold Technical Analysis

Historical peaks continue to be renewed in Ons Gold, which closed last week at $ 2415. Following the decline in bond interest rates by the US, the Chinese Central Bank's boldness in gold purchases remains important for the continuation of the positive course for Ons Gold. On the other hand, the crash of the helicopter carrying the President of Iran and the discomfort of the King of Saudi Arabia once again revealed that the precious metal is seen as a safe harbour. Ons Gold, which started by renewing its historical peak by seeing the $ 2440 level on the first trading day of the new week, can be followed as $ 2480 and $ 2500 resistance levels if it continues to rise. If the precious metal is subjected to selling pressure, 2430 and 2415 can be followed as support levels.
Resistances: 2480 / 2500 / 2545
Supports: 2430 / 2415 / 2400

XAGUSD Technical Analysis

Ounce Silver, which closed last week with a value gain similar to Ounce Gold, continues its sharp rises. Seeing the highest level of the last 11 years by exceeding $ 30.43 last Friday, the precious metal is renewing its buying course and new historical peaks on the first trading day of the new week. If supply pressures continue for Ons Silver, which saw the $ 32.50 level and retreated in the morning hours today, 32.35 and 32.50 can be followed as short-term resistance levels. In possible retreats, 32.00 and 31.60 can be monitored as support levels.
Resistances: 32.35 / 32.50 / 33.00
Supports: 32.00 / 31.60 / 31.25

EUR/USD Technical Analysis

The CPI data announced in the Eurozone on Friday came within expectations and the interest rate cut expectations following the slowdown in employment data on the US side caused the pair to follow a volatile but horizontal course. With the appreciation it gained last week, the pair, which managed to persist above the 1.0800 level, is also buying on the first trading day of the new week. In case of persistence of upward movements, 1.0900 and 1.0920 can be followed as resistance levels, while 1.0865 and 1.0845 can be followed as support levels in possible withdrawals.
Resistances:  1.0900 / 1.0920 / 1.0950
Supports:  1.0865 / 1.0845 / 1.0820

NAS100 Technical Analysis

The Nasdaq index, which tried new record levels last week, is trading in the 18675 region in the new week. If the upward movements in the index continue, the 18760 level can be monitored as a resistance point. In possible retreats, the 18490 level can be monitored as a support point.
Resistances: 18760 / 18890 / 19150
Supports: 18490 / 18420 / 18200

UKOIL Technical Analysis

UKOIL, which has been on the rise due to geopolitical developments and the health problems of the Saudi king, despite its weak outlook and pricing movements for a while, is now above the 200-day exponential average, under which it has been priced for a long time in the morning hours. In UKOIL, which continues pricing movements between the 200 and 100-day exponential averages, a different course can be followed in the commodity if the 100-day exponential average is crossed upwards. If upward movements continue in UKOIL, 84.60 and 85.15 can be followed as resistance levels. In case of downward movements, 83.75 and 83.35 can be followed as support levels.
Resistances: 84.60 / 85.15 / 85.55
Supports: 83.75 / 83.35 / 83.00

Tags: Technical Analysis, Analysis, Forex

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