Market Analysis and Trading Strategies

Gold to $4,252

Regarding the attacks between the US and Iran over the weekend,

it has been reported that they agreed to cease attacks.

They are moving toward resuming talks regarding the Strait of Hormuz.

The talks are scheduled for the 30th,

and we will continue to follow the developments.

And regarding interest rates,

the probability of a rate hike in July has decreased significantly.

In response to recent economic indicators and falling crude oil prices,

speculation about a Fed rate hike has receded slightly,

leading to some dollar-selling movement.

With economic indicators scheduled to be released this week,

price movements could become volatile depending on the results.

Let's look at the technical analysis.

Currently, the price is moving while raising its lows.

It is being held down at $4,100,

and since an ascending triangle formation is possible,

we should keep a breakout long at $4,100 in mind.

If this is invalidated, it will move to test

$3,960 once again.

Since there are no particularly strong buying factors yet,

let's maintain a stance of selling on rallies.

Now, here is today's scenario.

$4,100 role reversal long

$4,070 and $4,100 sell-on-rally short

$4,252 sell-on-rally short

$3,960 buy-on-dip long

We will watch the market opening with these four scenarios.

This week is going to be quite difficult.

I will keep a close eye on developments,

so please make sure to follow and turn on notifications.