Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

$DIA, $GLD, $SLV, $OIL, $USO, $CU

The DJIA at 19899.29, -0.21% trading within 20000-19720 range and likely to consolidate near term. It may not be very easy to break above 20000 now. A prolonged consolidation within the range, could help gather more Bullish momentum for a sharp break to the Northside longer term.

DAX at 11584.94, +0.01% trading below 11680 and could soon break to the Northside if it continues to trade above 11500 in in here. Key resistance is visible near 11800 which is likely to be tested on a break of 11680, longer term expect a sharp fall from 11800.

Nikkei at 19442.18, -0.40% rising for a few sessions, could test the resistance at 20000. If 20000 holds well near term, it could come off sharply below 19000 marks in the next 1-2 weeks, also pulling down USD/YEN (115.74) towards 114-113. Keep a close watch for cues in the week ahead.

Shanghai at 3166.16, +0.02% is in a uptrend towards 3200-3250 in the coming sessions.

Nifty at 8273.80, +1.02%) moved up Thursday within the range of 8265-8285 region it has not faced rejection yet. Look for price action near 8285-8300 if no further rejection may signal sharp move North next week if so, then consider the double-bottom formation action medium term.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Sharp fall in the US Dollar (.DXY) Index has helped drive precious metals North. PE

Gold at 1179 has moved up in line with expectation and could rally towards 1190-1200 in here, then a dip may be expected.

Silver at 16.59 has moved up, and may see resistance near 16.75-17.00. A dip from 17 is possible near term.

WTI Crude Oil 53.75 is trading along resistance marks, while that holds, could see a fall below 52 near term. But there is no  rejection immediately, continued testing of resistance could possibly help prices to finally break to the Northside. So, keep a close watch on resistance near 55-56.

Brent Crude at 56.86 has enough room to move to 59. Near term consolidation in the 56-59 area could come on.

Copper at 2.5410 could see 2.60 near term

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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