Today analysis for Nasdaq, Oil, and Gold

Nasdaq
The Nasdaq rose within a small range, forming a box consolidation pattern. On the daily chart, buying pressure remains strong, and today’s candlestick will merge with yesterday’s due to the holiday. As mentioned previously, today is a key session where the 5-day moving average may provide support, meaning a pullback to this level is possible.

Since yesterday’s high remained in a consolidation phase, the pre-market and regular session today could see some downside movement. The reason is that the market has yet to test a key level, which increases the likelihood of a short-term pullback.

On the 240-minute chart, the buy signal remains intact, but low-volume choppy price action persists. If a sell signal emerges on the 240-minute chart, the Nasdaq could correct down to the 5-day MA, making this a key area to consider buying dips.

Since today’s candle will be a combined session with yesterday, traders should expect price swings that normally unfold in one day to play out over two sessions.

Crude Oil
Crude oil closed higher within a neutral range, forming a bullish daily candle. The key focus now is whether oil can sustain its double-bottom structure, leading to further upside.

For the MACD and signal line to maintain a sell signal on the daily chart, oil must break decisively below $70 by the daily close. If this does not happen, a double-bottom reversal could trigger a rebound, meaning traders should be cautious with short positions.

On the 240-minute chart, a buy signal has appeared, following a false breakdown and a potential double-bottom formation. If holding short positions, be aware of the risk of a sudden price surge.

With ongoing Ukraine-Russia peace negotiations, oil volatility could increase, so traders should remain cautious. A break above $72 would be a bullish confirmation, while a failure to hold $70 support could lead to another leg down. Risk management is crucial.

Gold
Gold rebounded on the daily chart, closing higher. The MACD has not yet crossed below the signal line, meaning that the market remains in a buy-biased structure, increasing the likelihood of continued upside.

While buying dips remains the preferred strategy, gold has already tested the 3-day and 5-day moving averages, meaning traders should now focus on lower time frames for entry confirmation.

If gold continues to rise today and breaks above the 3-day and 5-day moving averages, the MACD could turn higher again, confirming that the buy trend remains intact. However, if gold declines and the MACD forms a bearish crossover, traders should prepare for a potential move down toward the 20-day moving average, adjusting their strategy accordingly.

On the 240-minute chart, the MACD has dropped below the zero line, but the signal line remains above zero, suggesting that rebound attempts are likely. However, since the MACD’s downward slope is steep, a quick bullish crossover is unlikely. Even if gold rises, it may face resistance and pull back again, meaning traders should avoid chasing breakouts.

If the signal line falls below zero, this would be a bearish confirmation, making it safer to trade within a range—selling near highs and buying at lower support levels.


Given yesterday’s holiday, today could see increased volatility as markets adjust. Additionally, Wednesday’s FOMC meeting minutes release is expected to introduce further market swings.
Risk management is key—stay disciplined, and have a successful trading day! 🚀


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