Key Stock, Crude, Gold and Silver Markets Briefing
$DIA, $DAX, $GLD, $SLV, $OIL, $USO, $CU
Commentary: Stocks markets could see some correction near term before resuming The Trump Rally. Near term looks Bearish as most indices are either testing resistance or have come off from resistance marks. PE
DJIA at 18868.14, -0.29% near Key resistance, and it could pause to refresh here. While 18900 holds, see a dip towards 18700 before resuming rally towards 19200 +. Near term resistances are seen near 18900, 19200 and 19500 respectively.
DAX at 10663.87, -0.66% rading well below it Key resistance at 10800. It has started to come off and could extend its fall towards 10500-10400 near term.
Nikkei at 17849.17, -0.07% as not been able rise above 17800, but is almost stable at Wednesday’s marks. In case, it is unable to rise and sustain above 17800, could come off to 17800-17300 near term. USD/JPY has come off from Key resistance near 110 and if that holds well, Nikkei’s rise is limited
Shanghai at 3192.92% is headed towards 3175. Near term looks Bearish.
Nifty at 8111.60, +0.04% dipped Wednesday, was unable to move below 8100, could see a test of 8000 followed by some sideways movement near term.
Crude Oil, Gold, Silver & Copper Markets
Gold at 1227.29 is stable near 1210-1220 and could possibly continue to move sideways in here. 1200-1210 is an important support zone, could hold near term. A break below 1200 would be hard on the Gold chart now.
Silver at 16.97 is stable near current marks. There could be some testing to 16.28 before bouncing up. For now 16.60 is holding well.
Copper at 2.4570 continues to fall and could test support near 2.40-2.35 near term.
Both Brent Crude at 46.51 and WTI Crude Oil at 45.46 rose Wednesday and have paused. Near term looks Bullish towards 48 and 47 respectively.
Brent-WTI Ratio is falling and could test support near 0.5 from where a bounce back to levels near 2 could be seen.