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

DJIA at 18162.35, -0.22% traded lower and closed at lower. Resistance near 18300-18400 is likely to hold near term keeping prices in the 18300-17,900 range.

DAX at 10701.39, +0.52% moved up, and could face some resistance near 10800. If it breaks above 10800 to the Northside, it could target higher levels of 11000.

Nikkei at 17285.53, +0.29% moved up sharply Thursday, but could come off from marks near 17400
in the near term.

Shanghai  at 3096.46, +0.39% paused above 3075, while the support at 3075 holds, it could move higher towards 3100-3150 in here.

Nifty at 8699.40,+0.47% expect to continue trading in the 8750-8500 range near term.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Crude Oil has seen a sharp correction, the precious metals remain weak. PE

Gold at 1262.10) saw resistance at 1275-80, keeping the chances of a resumption of the major downtrend open for a retest of 1240 and 1200 cannot be ruled out.

Silver 17.40 failed to rise above 17.80 in the last few days and remains ranged at 17.00-18.00, but the Southside risk may be just a bit higher now.

Brent Crude at 51.14, and WTI Crude Oil at 50.34 have corrected sharply as expected. Brent Crude may test the lower marks at  50.30-49.50 and WTI Crude Oil may extend the decline to 49.30, then 48.00 near term.

Copper at 2.094 tested the channel support at 2.08 and is trying to bounce. The possibility of rising to 2.15 is open as long as 2.08 holds.

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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