Monthly technical analysis – February 2023

Global markets ended on a positive note last month boosted by strong economic data from the US and China. Precious metals and currency pairs like Euro and GBP prices reached a fresh multi-month high while Bitcoin, the world’s largest digital currency by market value finally regained strong bullish momentum and surged almost 40% in January.

One of the other reasons behind the market’s rebound on the hope that the Fed and other central banks may slow the pace of monetary tightening as inflation starts to cool off. Moving ahead, February month started on a mixed note as investors remained cautious ahead of big economic releases and earnings results.

Check the technical analysis for levels of support and resistance of the important assets, specifically Bitcoin and Gold -