Key Stock, Crude, Gold and Silver Markets Briefing
$DIA, $DAX, $GLD, $SLV, $OIL, $USO, $CU
Commentary: Still need to keep a close watch on the markets in here. PE
DJIA at 18923.06, +0.29% continued to rise Tuesday, but could face some resistance near 19250-19500 region which could push back the index towards 18750-18500 before resuming the uptrend.
DAX at 10735.14, +0.39% is trading just below Key resistance at 10800, while that holds, the index could see 10600-10400.
Nikkei at 17882.08, +1.21% broken above 17800, if it holds above 17800, it could rise sharply towards 18200-18500 near term driving USD/YEN higher.
Shanghai at 3203.53, -0.09% is coming off from immediate channel resistance near 3225 and while that holds, a fall to 3175 looks possible.
Nifty at 8108.45, -2.26% fell sharply Tuesday and could continue to fall today also to test 8000 on the Southside. A bounce from 8000 looks possible but in case a break below 8000 is seen, the lower target of of 7900-7700 come into focus.
Crude Oil, Gold, Silver & Copper Markets
Commentary: Commodities are recovering the post US election moves and could continue to do so this week. Near term looks Bullish for Crude and precious metals while Copper may remain stable if not see a sharp fall just now.PE
Gold at 1232.51 bounced back from support near 1210 in line with expectation and could now possibly move up towards 1240-1260 near term while support holds.
Silver at 17.21 has also bounced from support at 16.60 and could move up towards 17.50-17.75 in the coming sessions.
Copper at 2.4895 has been coming off sharply after the melt-up last week. It has now come to test the lower limit of 2.60-2.40 marks, if it moves below 2.40, it may test Resistance turned Support at 2.35.
Brent Crude at 46.73, and WTI Crude Oil at 45.49 bounced back sharply as supports near 43.44 and 42.75 have held. May see a rise towards 48-49 and 47 respectively near term followed by a healthy dip.