Key Stock, Crude, Gold and Silver Markets Briefing

Key Stock, Crude, Gold and Silver Markets Briefing

Key Stock, Crude, Gold and Silver Markets Briefing


Commentary: Worldwide stock markets are overall mixed. DJIA, Shanghai and Nikkei could move up near term. Nifty could be set up to fall. DAX trying to move up but is unable to hold at higher levels now on the Deutsche Bank uncertainty. PE

DJIA 18143.24, -195.79  dove in line with expectation Thursday, and finished on the lows. It could move higher later towards 18500, but now we need to see if it can hold the support at 17900. Overall medium term still looks a bit Bullish but overall Bearish, the Key support must holds in here

DJIA -195.79 at 18143.45, NAS Comp -49.39 at 5269.16, S&P 500-20.24 at 2151.13 Volume: Trade was heavy with about 910-M shares on NYSE

HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bearish (-0.28) Neutral (-0.23) Bearish (-0.46) Neutral (-0.14)

As I write this report at 8:48a EDT on 30 September the S&P 500 futures Vs fair value: +6.00. NAS Comp futures Vs fair value: +14.60. Stocks closed weak overseas



Crude Oil, Gold, Silver & Copper Markets

WTI Crude Oil 47.92 and Brent Crude at 49.00, the Supports at 43 and 45 respectively are still intact. With some Southside risk averted, WTI can test 48 and Brent may see 50 near term. Both may consolidate between 43-48 and 45-50 thereafter before breaking higher.

Gold at 1329.0 stable, Medium term Support for Gold/WTI Ratio seen at 27.75, and while the ratio remains below 29, there might be pressure to break the Key support at 27.75. If successful, it would be good for stocks worldwide and might lead to some Dollar weakness in here.

Copper at 2.1995 has held above Key support at 2.15 and could be on the way up towards 2.25.

Have a terrific weekend

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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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