Key World Stock, Crude, Gold and Silver Markets Briefing

Key World Stock, Crude, Gold and Silver Markets Briefing

Key World Stock, Crude, Gold and Silver Markets Briefing


Commentary: Risk aversion is the Key in here as the chances of further stimulus from the central banks dwindle and the rate hike possibility has been boosted by the comments of Fed Boston President. Money has been flowing out of every market. Remains to be seen if the larger uptrend gets affected or not for the equity indices. So we wait to see if the expected bounce holds. Do not think it will. PE

DJIA at 18,325.07, +239.62 or +1.39% expanded its range Friday, and deeper than expected. Holding the 1st support zone at  18000-17850 is key to keep the uptrend going. Otherwise the decline can extend to 17500 marks in the coming days.

DJIA +239.62 at 18325.07, NAS Comp +85.98 at 5211.89, S&P 500 +31.23 at 2159.04

  • Russell 2000: +8.6% YTD
  • S&P 500: +5.6% YTD
  • DJIA: +5.2% YTD
  • NAS Comp: +4.1 % YTD
Symbol Last Trade Date Change Open High Low Volume
NYSEArca:DIA 183.3 12 September 2016 2.39 180.09 183.64 179.93 7,056,000
HeffX-LTN for Analysis for DIA: Overall Short Intermediate Long
Neutral (0.09) Neutral (-0.19) Neutral (0.05) Bullish (0.42)

As I write this brief the DJIA (DM1:IND )mini Dec futures are trading at 18,138.00 -108.00  Tuesday, 13 September at 7:43a EDT
Crude Oil, Gold, Silver & Copper Markets

Commentary: All commodities are seeing outflow at this point and even the safe havens remain weak. PE

Gold at 1333.50 should see some inflow as the classic safe haven asset now, protecting the support of 1320. The Northside remains limited to 1350-55 for the next 2-3 days.

Silver at 18.95 tested to 18.75, overshooting the Southside target at 19.00, but now may bounce to 19.30-60 in the next sessions.

Brent Crude at 47.96, and WTI Crude Oil at 45.87 corrected sharply with the new deal among Russia and Saudi Arabia having no effect on it. The contraction I discussed last week is now clearer on the charts now with higher lows and lower highs. We have to see if Brent Crude can hold above the 1st support at  47.13 and WTI Crude Oil above 44.80.

Copper at 2.10 is almost Unchanged in the narrow range of 2.08-10 after some brief volatility but the range may not expand beyond 2.07-2.14 for the rest of the week.

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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