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

Commentary: Neutral. PE

DJIA at 20071.46, +0.94% rose sharply Friday, possibly on news of US President Donald Trump’s order to roll back the Dodd-Frank with the Volcker Rule that was signed by Barack Hussein-Obama in Y 2010. The markets may take it positively, meaning could be some more rise in the next few sessions.

DAX at 11651.49, +0.20% testing support near 11600, if that that holds, the index could move North towards 11820-11920 again near term, need confirmation before we see it above 11700.

Nikkei at 18974.07, +0.30% is stable near current marks and could consolidate within 18651-19258 for some more sessions. The direction is unclear in here.

Shanghai at 3155.81, +0.50% may test near 3125-3100 before bouncing higher.

Nifty at 8740.95, +0.08% trading at resistance marks, if that holds,  see a small correction near term towards 8600 or lower, a break above 8760 can signal medium term rally  targeting 8800+.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: The US induced political risk seanerio has global investors interested in Gold. PE

Gold at 1223.8 along with a weak US Dollar (.DXY) Index at 99.72. It can test the near term resistance at 1230-40, a turnaround in the USD may weaken Gold.

Silver at 17.60 is holding above Key support at 17.50-30, that may drive it to 18.00 or even 18.40 near term, but any weakness in Gold may affect the Devil’s Metal too.

For the past 6 weeks, both Brent Crude at 56.88, and WTI Crude Oil at 53.89 are ranged of 53-58 and 50-55 respectively. This week, a resolution to the Northside may happen and Brent Crude may test 60 and WTI Crude Oil may test at 58.

Copper at 2.636 seeing support at 2.61, a break below 2.60 may push it to 2.55-50. Overall, the technical structure is damaged, the resistance at 2.75 may not be tested very soon

Have a 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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