Today analysis for Nasdaq, Oil, and Gold

Nasdaq
The Nasdaq closed higher within its range-bound market. On the daily chart, it faced resistance near the gap created on January 27. Even if the index continues to rise, it is likely to encounter strong resistance near the January 24 closing price of 21,911. Keep in mind the principle that gaps tend to get filled and that they often act as strong support or resistance levels once filled.

Since the MACD is still maintaining a buy signal on the daily chart, it is advantageous to adopt a buy-on-dip strategy. The recent move appears to be driven by dollar weakness, and similar to gold's strong rally yesterday, Nasdaq could also experience an additional upward rally. Therefore, short positions should be taken at the highest possible levels.

On the 240-minute chart, the MACD has crossed above the zero line and is now pulling the signal line upward as well. If the index continues to rise and fills the gap, both the MACD and signal line will be above the zero line, and after consolidating at the gap resistance level, the next directional movement will likely be determined. It is best to focus on buying on dips while setting strict stop-loss levels for any short positions above the gap. Proper risk management is key.

Crude Oil
Crude oil closed nearly flat but showed a meaningful breakout from the downward channel on the shorter time frames. It also created a gap-up on the daily chart and broke above the 5-day moving average. Previously, oil had been declining due to Trump's announcement regarding increased oil drilling, but this news is largely priced in now, making a technical rebound possible.

The key level to watch on the upside is $74.50, while buying opportunities exist below $73, with a stop-loss at $72.

On the 240-minute chart, bullish divergence has formed at the bottom, leading to another buy signal. Since the price appears to be building a base, additional buying momentum could emerge. While the market is still range-bound, a buy-on-dip strategy remains favorable for now.

Gold
Gold surged to new all-time highs and closed with strong gains. The rally was driven by increased demand for safe-haven assets following Trump’s tariff imposition, boosting gold prices significantly. As mentioned yesterday, the MACD turned upward again, leading to another sharp rally on the daily chart.

Since gold strongly broke out of its previous range with a large bullish candlestick, today is a buy-on-dip day, particularly near the 3-day moving average. If the price retraces in the pre-market session, it could dip toward the 3-day moving average, so traders should be mindful of this possibility. However, if gold maintains its strength and closes with another bullish candlestick, the 3-day moving average will move higher, reinforcing the uptrend.

On the 240-minute chart, the MACD and signal line have diverged significantly, reflecting the strong uptrend. Buying on dips remains effective, while selling should be avoided since RSI indicates overbought conditions. As gold's volatility is increasing, traders should consider adjusting contract sizes, using micro contracts, or lowering leverage to allow for wider stop-loss levels and better trade management.

■Trading Strategies for Today

Nasdaq - Bullish Market
-Buy Levels: 21680 / 21630 / 21580 / 21530 / 21465
-Sell Levels: 21770 / 21845 / 21890 / 22010 / 22055

Crude Oil - Range-bound Market
-Buy Levels: 72.90 / 72.40 / 72.00 / 71.40
-Sell Levels: 73.60 / 74.10 / 74.50 / 75.00

GOLD - Bullish Market(April)
-Buy Levels: 2845 / 2840 / 2831 / 2824
-Sell Levels: 2860 / 2866 / 2870

These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.

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