Key World Stock, Crude, Gold and Silver Markets Briefing
$DIA, $OIL, $USO, $GLD, $SLV
Commentary: The Japanese markets are seeing some Northside actionon the back of a weak Japanese Yen at 102.94 Vs USD along with the European markets, but the excitement may dry up by soon, waiting for the US NFPs employment data Friday. PE
DJIA at 18454.30, -0.26% Tuesday’s session in the range of 18250-700, which must be broken for a trending move to happen. The possibility of a breakout. up or down, will increase this Friday, after the US NFPs employment data release.
DAX at 10657.64, +1.07% broke out of its narrowing range of 10450-650, as expected and now may reach the targets of 10800-1100 in the next few trading sessions.
Nikkei at 16857.07, +0.79% is getting closer to the 1st target at 17000, but as noted it may struggle near the Major resistance zone of 17150-250. Caution suggested at these higher levels.
Shanghai at 3070.90, -0.12% is taking a pause in the range of 3050-90, which may continue for the rest of this week.
Nifty at 8744.35, +1.59% has broken above the resistance at 8685, negating the downtrend. The target of 8800-50 is open now, which may be marked in the next 1 to 3 trading sessions.
Crude Oil, Gold & Silver
Extended strength in The US Dollar at 95.94 has weakened almost all the commodities. Waiting for the US NFP’s employment data Friday, which can/may/might/could determine the near term trent.
Gold at 1314.83 is testing the Major support at 1310-00, which must hold for the Gold Bulls to keep the chances of another bounce to 1350-60 alive. But, a clear break below 1300 may open up Southside targets to 1250.
Silver at 18.70 remains ranged at 18.40-19.00, and may continue the sideways movement for the next few days.
Both Brent Crude at 48.63, and WTI Crude Oil at 46.28 are closer to the lower end of their respective ranges of 48.00-51.00 and 46.00-48.50, the support marks are expected to hold and keep the price in the same range for the rest of this week.