Key Stock, Crude, Gold and Silver Markets Briefing

Key Stock, Crude, Gold and Silver Markets Briefing

Key Stock, Crude, Gold and Silver Markets Briefing

$DIA, $DAX, $GLD, $SLV, $OIL, $USO, $CU

Commentary: Markets may take some time to stabilize after the sharp movement in the last 2 of sessions. There may be some corrective dips on profit taking, then will look for direction. PE

DJIA at 18807.88, +1.17% moved North, and looks Bullish near term, may see a short corrective dip next week, then the Trump Rally extends towards 19000.

DAX at 10630.12, -0.15% has come down a bit. The resistance near 10800-10900 held well, while it  holds, could see a fall to 10400-10300 .

Nikkei at 17411.19, +0.38% is not able to move beyond 17600 in here, the sharp movements may now lead to some correction, see a dip towards 17200-17000 near term.

Shanghai at 3177.01, +0.18% in a contraction mode for a year, and could try to break to the Northside medium term, look for confirmation on a break above 3200, but while 3200 holds, there is potential of re-testing levels near 3150-3100 near term.

SGX Nifty at 8416.50, -1.52% is down 128 pts suggesting that the Nifty (8525.75, +1.11%) may open lower Friday. A fall towards 8300-8150 is seen in here.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Commodities are all trading lower, but has important supports below current levels. While the supports hold, near term looks Bullish. PE

Gold at 1259.71 has come off sharply. Note important support at 1250 is likely to push back prices towards 1280-1290 near term.

Silver at 18.538 is almost stable and could continue to trade in the 18.25-19.00 region. Note: Key resistance at 19, and may hold in here.

Copper at 2.5330 has come off a bit, while it manages to trade above 2.50, it could eventually rally to test 2.75-3.00 medium term with some small corrections on the way. We may revise our targets if it come down below 2.50 near term.

Brent Crude at 45.64 is trading lower than Thursday, but while support at 45 holds, look for an eventual rise towards 48 in the coming sessions.

WTI Crude Oil at 44.42 is trading above support at 42.75, if it holds could drive it higher towards 47-48.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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