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: Overall stocks are mixed, DJIA DAX, and Shanghai look Bullish, Nikkei may consolidate near term. Nifty looks Bearish ahead. PE

DJIA at 20611.86, +0.52% is headed towards 20800 near term, then expect a short corrective dip towards 20400-20200, and then head due North again.

DAX at 11793.93, +0.19% closed a bit higher levels, as long as support at 11600-11650 holds, the index can move higher in the coming sessions, target at 11930-12000.

Nikkei at 19349.24, -0.46% is finding it difficult to move above 19500, and is ranged at 19620-18870, and may continue stay in that zone for some more sessions near term.

Shanghai at 3211.19, -0.06% tested the daily trend-line resistance at 3235.98, and came off. While the resistance holds, the index could fall to 3200 then bounce to 3225-3250 medium term.

Nifty at 8724.70, -0.77% saw it 1st sharp fall this year coming down from 8821, may see a drop to 8700-8635 near term before bouncing back to 8800.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Almost all the commodities are flat to unchanged with no real activity.PE

Gold at 1226.46 tested support at 1215 as expected and the following bounce from the support may drive it to 1240-50 again, but any fresh strength in The US Dollar (.DXY) Index (100.93) may keep it stable in the range of 1215-50.

Silver at 18.016 is in an uptrend with no momentum. If the Gold-Silver Ratio (68.55) rallied from the current levels, then any weakness in Gold due to USD strength may trigger a sharper decline in Silver, 1st resistance remains unchanged at 18.10.

Brent Crude at 55.70, and WTI Crude Oil at 53.06; both are trading exactly at the mid-point of their respective ranges of 53-58 and 50-55 with no directional bias and this horizontal movement may continue for a few more days.

Copper at 2.746 is trading in the range of 2.70-85 which may continue for the next 5-10 days.

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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