Markets are moving. Here's what's happening with gold, tech, and oil.
๐ฅ Gold ( $XAU )
Gold fell a lot from its high. Today it's bouncing back, up about 1.4%.
But interest rates are still high. That makes gold less attractive.
Key levels to watch: support atย 4,453,resistanceat4,453,resistanceat4,600.
If gold closes above $4,614, bulls might take over.
๐ฑ Big Tech (Mag 7)
Not all tech stocks are the same.
GOOGL is up 22% this year โ strong earnings.
MSFTandMSFTandTSLA are down โ struggling.
Right now, the top 10 US stocks hold a record 41% of the S&P 500. That's even more than the dot-com bubble.
My pick for strength:ย $GOOGL , $TSLA .
๐ข๏ธ Crude Oil
Oil prices are staying above $100. Supply is tight. OPEC+ can't produce much more.
What to watch next: US inflation data on May 28 (Core PCE).
If inflation is hot โ dollar goes up โ gold and stocks may fall.
If inflation cools โ markets could rally.
๐ Drop your answer in the comments. Let's talk.
