Hello,
Let's start this week, market analysis.
The market received with relief the data on the decrease in inflation in the US, both in consumer and producer data.
At the moment we are in a major consolidation where we have support at $23,000 and resistance at $38,000. However, with a good chance of fetching $25,000.
For now, we believe that we are experiencing a pullback, which could last up to around $32,000.
The market remains strong in the bullish channel, indicating supports at $21,200, $20,400 and $19,100. Major resistance points are at $25,000 and $26,200.
We already have an alignment of the moving averages, which could ease the buying pressure, aiming to test the $25,000 region.
The best scenario for short and medium term operations is to carry out operations in the direction of the main operation, that is, to operate in the purchase.
Market is currently pulling back, entering a consolidation region with main support at $1,050 and resistance at $2,100.
Major supports are at $1,700, $1,620 and $1,500, while major resistances are at $2,000, $2,100 and $2,130.
The market remains in a bullish region. This time it is already aligning with the moving averages, showing buyer bias.
The main supports of this move are at $1,750, $1,700 and $1,500, while the main resistances are at $1,940, $1,980 and $2,000.
After the release of the inflation data in the US, the market gained a lot of volatility, with a mostly buying direction.
Market having a buying week, however, unable to change the main trend.
We believe that in the next buying wave gold tends to seek the $2,000 region, but for now, let's keep an eye out for resistances at $1,810, $1,930 and $2,000.
Like the crypto asset market, gold could also see a surge in demand if US inflation does indeed reach a peak.
Market trying to break the downtrend line, aiming to return to the uptrend.
Of all the charts studied this week, certainly the Dow Jones is the most complex, as we can see a bearish channel that conflicts with the moving averages, which already want to line up for a bullish bias.
The expectation is that the Fed will raise the interest rate by 50 points at the next meeting in September, with that the market extends the gains.
The main supports are at 32,600, 32,100 and 29,400 points.
