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: Stocks are mixed. DJIA, DAX, and Shanghai markets are almost stable, Nikkei is rallying. Nifty extends its decline and could see support below current marks. PE

Resistance near 19000 on the DJIA now at 18903.82, +0.19% is holding in here. A dip towards 18700 is possible near term. There could be some consolidation within the 18600-19000 region in the next couple of weeks, we will see.

DAX at 10685.54, +0.20% looks stable above 10600, the Resistance is at 10800. A fall to 10500-10400 is open, but it is possible that the index will remains in the 10600-10800 region, trying to break to the Northside in the near term.

Nikkei at 18005.85, +0.80% has been successful in rising above 17800 and is pulling up the USD/JPY (110.72) with it. Nikkei could rise to 18500 near term taking the USD/JPY higher with it.

Shanghai at 3204.13, -0.13% paused near resistance at 3225. It could trade sideways within the 3175-3225 region with an Northside bias towards 3250-3275 long term.

Nifty at 8079,95 -0.39% extended its dip Monday also and could close the week on a negative note, 1st support it is at 8000. Need to wait and see if it manages to bounce back from there in the next couple of weeks.


Crude Oil, Gold, Silver & Copper Markets

Commentary: Strength in US Dollar (.DXY) Index above 100 has put pressure on commodities.PE

Gold at 1207.83 is headed towards psych support at 1200. While US Dollar (.DXY) Index continues to strengthen, Gold could be headed to much lower marks. We need to see if it bounces back from 1200 or breaks below in the coming sessions. Near term: Bearish.

Silver at 16.58 is also falling and could be headed towards 16 near term.

Copper at 2.4550 looks stable near current marks, 1st support is seen near 2.40-2.35 which may hold near term.

Brent Crude at 46, and WTI Crude Oil at 44.89 are not able to move higher in here. The earlier support near 47-48 has been broken on the WTI Crude and it is very possible that it could act as an interim resistance for the coming sessions. In that case WTI Crude Oil could be headed to 44-42 again near term. Brent Crude could bounce from 46 levels towards 48 near term.

Have at terrific week.

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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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