Weekly Forecast - #NASDAQ100 Index,#SP500,#Silver,#DAX,#Bitcoin (3 June 2024)

-

Bitcoin

Bitcoin has also been very noisy during the week, testing the $67,000 level for support at the end. Ultimately, this is an area that I think will continue to attract a lot of attention, but even if we were to break down below it, the actual “floor in the market” is closer to the $60,000 level, an area we had bounce from previously. If we can break above the $73,000 level, then it’s possible that we go much higher.

NASDAQ 100

The NASDAQ 100 plunged during a huge part of the week, but it does look like it’s finding a little bit of support in an area that previously had been resistant. At this point, it looks like it is offering a little bit of value, but I would also be a bit cautious as there is so much volatility. The 17,850 level underneath should continue to be a massive support, right along with the 17,000 level. I am a buyer and not a seller, despite the fact that I am a bit nervous jumping in with a huge position at the moment.

S&P 500

The S&P 500 fell during the week, but it looks as if it is trying to find some type of support as we head into the weekend. I think that the 5000 level underneath is going to be a major support level that a lot of people will be cognizant of a, as it is a large, round, psychologically significant figure. It’s obvious that the 5300 level continues to be a bit of a headache, but once we break above there it’s likely that the S&P 500 will go higher, looking toward the 5500 level given enough time.

Silver

Silver initially shot higher again during the course of the week but has been absolutely decimated. At this point, it looks like we are doing everything we can to test the $30 level, an area that I think will end up being very important before it is all said and done. If we were to break down below the $30 level, we could see the market go looking to the $28.50 level. On the other hand, if we do rally from here expect the $32.50 level to be very difficult to get above.

DAX

The German index has been pretty wild during the course of the week, but it still is very much in an uptrend, and it makes sense that we will eventually see some type of continuation. The €18,250 level is an area that we have seen a lot of support at, and I think we also have even more support below, near the €18,000 level. I have no interest in shorting this market, and if we do continue to pull back, I think that we will only end up seeing more value in a market that has been strong for some time. Keep in mind that Germany will lead the European Union higher overall, so this is one of the most important markets to follow.


To get ACCURATE LIVE ACCURATE 2-3 TRADES (Forex/Comex/Stocks) Telegram Financial Advisor

BEST FOREX SIGNAL TELEGRAM GROUP
XAUUSD FOREX INDICES ACCOUNT MANAGEMENT

#SaudiArabia #UAE #Qatar #HongKong #Portugal #PortugueseGP #France #forex #commodities #forexSaudiarabia #forexYemen #forexasia #forexJordan #Singapore #UAE #UK #forexsignals 

Comments

Post a Comment

Popular posts from this blog

Gold (XAUUSD) Price Prediction for May 2020 | FOREX RECOMMENDATION

-
Image
The below gold price forecast article is a part of the May 1, 2020 Gold & Silver Trading Alert that we sent to our paid subscribers. Enjoy: Practically everything that we wrote on Monday, and yesterday. remains up-to-date today. In fact, yesterday’s decline, the volume that accompanied, and the gold-USD link all further confirm the forecast that current situation in gold, silver, and mining stocks is similar to what happened in the first half of March. Let’s take a look at the details. Starting with a quote from our previous analysis to provide context: In short, the USD Index is after a huge rally and a correction. In late March, the USD Index corrected the previous rally in terms of price moves, but not in terms of time. The latter is what it seems to have been doing for the past month. The USD Index did move higher in April, but the moves were relatively boring – somewhat similar to how it rallied in January and February. And what did gold do at that time? It moved h
Read more

S&P 500 Forecast 2020: When will equities peak?

-
Image
S&P 500 Forecast 2020: When will equities peak?  The most profitable bull market in history arouses a lot of interest among bears. The fourth year of the presidential term has, on average, the worst performance in the S&P 500. The trade war, the Brexit or Trump appear to be the most critical threats for a market insensitive to dangers. American stock market indices have started the new year at  record highs . On Thursday 2, the futures market shows a 0.91% increase and the S&P 500 index close to hitting the 3250 price level. The current  upward trend began in March 2009 , when the S&P 500 hit the 660-point zone of the global stock market benchmark. Since then, the strong coordinated actions of all the major central banks of the world, injecting trillions of dollars into the economic system, have driven the American indices to new annual highs. It is more than evident that   the current situation is unsustainable . The current stratospheric price levels i
Read more

Top 5 Things to Know in the Market on Thursday, April 9th 2020

-
Image
Another 5.25 million Americans are expected to have filed for jobless benefits last week. The numbers are out at 8:30 AM ET (1230 GMT). OPEC and Russia will meet to thrash out a possible cut of some 10 million barrels a day in output - but any agreement will likely be conditional on some form of contribution from the U.S. Stocks are set to open mostly lower after a late surge on hopes of a peak in virus cases in New York, while the U.K. is set to start borrowing directly from the Bank of England - and neither the pound nor the bond market seems to mind. Here's what you need to know in financial markets on Thursday, April 9th. 1. Get your hard hat on - it's time for U.S. jobless claims again It’s jobless claims day again. The Labor Department releases its weekly figures for initial claims at 8:30 AM ET (1230 GMT), and analysts predict only a modest drop to 5.25 million from last week’s record of 6.65 million. If that’s borne out (and watch for revisions to the previou
Read more