Key US Stock, Crude, Gold and Silver Markets Briefing

Key US Stock, Crude, Gold and Silver Markets Briefing

Key US Stock, Crude, Gold and Silver Markets Briefing


Commentary: Seeing stocks headed for a pullback or correction before seeing a new rise medium term. PE

DJIA at 18261.45, -0.71% was rejected at the channel resistance near 18400, if that holds, see a re-test of support near 18000-17900 in here. A break on either side of the 18400-17900 trading range is needed to indicate direction North or South. So, for now the 18400-17900 range is expected to hold for a few more sessions.

Dow -130.74 at 18261.72, NAS Comp -33.78 at 5305.74, S&P 500-12.47 at 2164.71

Volume: Trade was moderate to light with about 804-M/shares exchanged on the NYSE Friday

  • Russell 2000: +10.6% YTD
  • Nasdaq: +6.0% YTD
  • S&P 500: +5.9% YTD
  • Dow Jones: +4.8% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bearish (-0.28) Bearish (-0.41) Bearish (-0.35) Neutral (-0.08)

As I write this report the DJIA mini Dec futures are trading at down 110 pts.

Crude Oil, Gold, Silver & Copper Markets

Commentary: Commodities will fall with the stocks and may see the start pullback this week too. PE

Saudi Arabia has offered to cut its current output to January 2016 marks  (10.2 BPD). Both Brent Crude 46.26 and WTI Crude Oil at 44.79 rebounded after the dive seen Friday. The channel supports on the 3-Day held, and if that holds for this weeks sessions, we could see some recovery in Crude Oil prices. The sideways movement within the 45-50 range for Brent Crude Oil and 42.50-48.00 range for WTI Crude Oil likely to continue in here.

Gold at 1338.40 has been moving sideways in the 1310-1360 range since mid-June and may continue medium term. Lack of direction may continue while the broad range holds. If 1350-60 resistance hold, look for a dip before another run at it.

Silver at 19.60 headed South towards 19 near term.

Copper at 2.1940 may see rejection at 2.22-2.25, as it is a Key resistance zone near term. A rejection there may push towards 2.15-2.10.

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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