In the global markets, the ongoing concern over the debt limit crisis in the United States continues. As of June, the possibility that the United States may be unable to pay its debts is causing fear to dominate the markets. Despite the rise of the DXY leading to many risky assets losing value against the dollar, investors have turned to Nasdaq and S&P500, thereby gaining significant resistance levels. The FOMC minutes to be published following the speech by U.S. Treasury Secretary Yellen on Wednesday will have an impact on prices.
Technically, when we examine NQ, with the winning of the resistance zone, the upward trend continues, and the first significant resistance level where a reaction might be received is $14,344. In the event of a possible pullback, the support zone that could receive a reaction is $13,355.
The resistance level of $4,206 has not yet been won. If this zone is won, an upward movement could be seen up to the next resistance zone of $4,306. In the event of a possible pullback, the first support level to be followed is $4,150.
Gold, which has created an uptrend with banking crises and news of major countries increasing their gold reserves, has rejected the very important resistance zone of $2,071 and pulled back to the support zone again. Currently, the first support level that can hold the price is the $1,955 – $1,940 zone. If this area is lost, the next support zone to follow could be $1,916.
We are trading Emtia and Index pair on PrimeXBT