Pre-Market Analysis for Nasdaq, Oil, and Gold Futures
The Nasdaq closed higher with an upper wick on the daily chart.
As mentioned previously, this week is expected to show buying pressure at the beginning, followed by selling pressure towards the latter half. After the 240-minute chart's buy signal, the daily chart's MACD is moving closer to the Signal line, indicating buying momentum. However, achieving a complete golden cross appears challenging due to the divergence and angle. The 21,900–22,000 range is considered a short-term high zone, where the market might either sharply drop after forming an upper wick or move sideways before failing the golden cross, leading to a downward shift in the MACD and a subsequent sell-off.
Notably, Nvidia, which has been driving the current index, continues to show strength. Monitoring Nvidia's previous high as a resistance point will be crucial. While the 240-minute chart exhibits strong buying pressure, the steep angle of the recent surge suggests that managing risk and opting for selling opportunities near the highs—rather than buying on dips—would be more advantageous. Additionally, keep an eye on key economic indicators such as the ISM Services Index and JOLTS report, which are scheduled for release today.
Crude oil closed lower with an upper wick.
Given its recent rapid surge, crude oil's daily chart shows significant divergence from the 5-day moving average. It is advantageous to focus on selling at the highs in this scenario. If the price pulls back to the 240-day moving average, observing whether it finds support will be critical. This week, oil could pull back to the 3-week moving average on the weekly chart and then rebound. Therefore, caution is advised against chasing the rally, and selling near previous highs would be prudent. However, buying on dips near the 3-week moving average could present an opportunity.
On the longer-term 240-minute chart, a bearish candlestick at the high has triggered a sell signal. It would be wise to anticipate potential sharp declines and prioritize selling during rebounds. For buying opportunities, it is recommended to act cautiously and at significantly lower levels.
Gold closed lower with a lower wick.
Ahead of Friday’s non-farm payroll data, gold is likely to remain range-bound in a consolidation phase. On the weekly chart, gold faces resistance from moving averages, and this week’s key data releases may determine its trend. On the daily chart, while a buy signal was generated, gold failed to make a significant surge, leading to the MACD and Signal line moving sideways.
With market flows becoming more uncertain, a range-bound strategy is advisable. On the 240-minute chart, gold could form a triangular consolidation pattern in the short term. Until Friday, trading within a range would be the most effective approach.
The weather has turned colder with a cold wave sweeping in, and flu season is here. Please take care of your health, and I wish you successful trading today!
■Nasdaq - Range-bound Market
-Buy Levels: 21,660 / 21,565 / 21,495 / 21,450
-Sell Levels: 21,885 / 21,940 / 22,005 / 22,045 / 22,110
■Oil - Bullish Market
-Buy Levels: 72.80 / 71.90 / 71.00
-Sell Levels: 73.60 / 74.20 / 74.85
■Gold - Range-bound Market
-Buy Levels: 2,641 / 2,635 / 2,625
-Sell Levels: 2,652 / 2,658 / 2,666 / 2,672
As mentioned previously, this week is expected to show buying pressure at the beginning, followed by selling pressure towards the latter half. After the 240-minute chart's buy signal, the daily chart's MACD is moving closer to the Signal line, indicating buying momentum. However, achieving a complete golden cross appears challenging due to the divergence and angle. The 21,900–22,000 range is considered a short-term high zone, where the market might either sharply drop after forming an upper wick or move sideways before failing the golden cross, leading to a downward shift in the MACD and a subsequent sell-off.
Notably, Nvidia, which has been driving the current index, continues to show strength. Monitoring Nvidia's previous high as a resistance point will be crucial. While the 240-minute chart exhibits strong buying pressure, the steep angle of the recent surge suggests that managing risk and opting for selling opportunities near the highs—rather than buying on dips—would be more advantageous. Additionally, keep an eye on key economic indicators such as the ISM Services Index and JOLTS report, which are scheduled for release today.
Crude oil closed lower with an upper wick.
Given its recent rapid surge, crude oil's daily chart shows significant divergence from the 5-day moving average. It is advantageous to focus on selling at the highs in this scenario. If the price pulls back to the 240-day moving average, observing whether it finds support will be critical. This week, oil could pull back to the 3-week moving average on the weekly chart and then rebound. Therefore, caution is advised against chasing the rally, and selling near previous highs would be prudent. However, buying on dips near the 3-week moving average could present an opportunity.
On the longer-term 240-minute chart, a bearish candlestick at the high has triggered a sell signal. It would be wise to anticipate potential sharp declines and prioritize selling during rebounds. For buying opportunities, it is recommended to act cautiously and at significantly lower levels.
Gold closed lower with a lower wick.
Ahead of Friday’s non-farm payroll data, gold is likely to remain range-bound in a consolidation phase. On the weekly chart, gold faces resistance from moving averages, and this week’s key data releases may determine its trend. On the daily chart, while a buy signal was generated, gold failed to make a significant surge, leading to the MACD and Signal line moving sideways.
With market flows becoming more uncertain, a range-bound strategy is advisable. On the 240-minute chart, gold could form a triangular consolidation pattern in the short term. Until Friday, trading within a range would be the most effective approach.
The weather has turned colder with a cold wave sweeping in, and flu season is here. Please take care of your health, and I wish you successful trading today!
■Nasdaq - Range-bound Market
-Buy Levels: 21,660 / 21,565 / 21,495 / 21,450
-Sell Levels: 21,885 / 21,940 / 22,005 / 22,045 / 22,110
■Oil - Bullish Market
-Buy Levels: 72.80 / 71.90 / 71.00
-Sell Levels: 73.60 / 74.20 / 74.85
■Gold - Range-bound Market
-Buy Levels: 2,641 / 2,635 / 2,625
-Sell Levels: 2,652 / 2,658 / 2,666 / 2,672
Penafian
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