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 the stock market indices are stable in here, and could be quiet for a couple of sessions not much movement seen. PE

DJIA at 20914.62, -0.10% paused/ranged within 21000-20800 for another couple of sessions before moving back towards Key  resistance at 21200.

DAX at 12095.24, +0.10% trades along the upper trend line of a medium term channel. There is potential of a move towards 12220-12300 near term before a short dip.

Nikkei at 19521.59, -0.35% has room to move towards 19800 on a break above 19600, while below 19600 it could remain stable in the 19400-19600 zone, could see some consolidation in here.

Shanghai at 3246.69, +0.29% came off sharply after a rise above 3250 last week, 1st support seen near 3225, while that holds, could see move towards 3250 and higher in here.

Nifty at 9160.05, +0.07% notched an intra-day high at 9218 Friday before closing lower to 9160. The Northside target is at 9280  near term from where a corrective decline is expected.

 

Gold, Silver, Copper & Crude Oil Markets

Gold at 1233 closed at higher from a weekly low of 1196, now look for a close above 1240-45 near term to take fresh Long positions. But before that it may spend a few sessions within the 1215-45 area.

Silver at 17.46 tested 1st resistance at 17.47-48 before closing lower. A break above that mark could drive it to 18.00. Overall waiting for confirmation of directional clarity.

Copper at 2.67 almost unchanged and trading in a narrow range of 2.65-72. Remain Bearish while it is trading below 2.70-72. A close above 2.72 negates the short term Bearish outlook

Brent Crude at 51.45, and WTI Crude Oil at 48.41 shows no strong sign of recovering. Broth marked the intra-day low at 51.36 and 48.26, close to Key supports of 50 and 47.50. Will remain Bearish while Brent Crude and WTI Crude Oil are trading below 53 and 50.

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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