Key World Stock, Crude, Gold and Silver Markets Briefing
$DIA, $OIL, $USO, $GLD, $SLV
Commentary: After the poor US NFPs data, the weak ISM data in US has shot even the last chances of any rate hike in the current month dead, increasing the risk appetite in the markets. PE
DJIA at 18538.12, +0.25% saw a minor gainer, but the sideways mode in the range of 18250-700 continues and the setup may remain unchanged for the rest of this week.
DAX at 10687.14, +0.14% has traded in a range of 10400-800 with no sign of an immediate breakout.
Nikkei at 16970.24, -0.65% was rejected at the Major resistance of 17150-250 and now it may trade sideways in the range of 16700-17150 for the next few sessions.
Shanghai at 3102.39, +0.38% showing initial signs of resuming the major uptrend, and it may test at 3140 soon if it manages to stay above support at 3090-80.
Nifty 8943.00, +1.51% spiked to the Northside and may try to test the interim resistance at 8980-90 by the end of this week, then comes the long term target/resistance area of 9110-60, 1st support comes at 8840-25.
Crude Oil, Gold, Silver & Copper
Commentary: Fresh risk appetite has not prevented money from flowing in safe havens like Gold, while the lack of fresh stimulants may keep Crude Oil markets range bound. PE
Gold at 1351.79 has made the initial target of 1340-50 fast, but may find some resistance around 1355-60. It requires a break above 1360 to extend the rally to a fresh high above 1370-75.
Silver at 20.04 has made the target of 20.00 in 1 session. Now it may consolidate in the higher range of 19.90-20.50 for the rest of the week.
Brent Crude at 47.51, and WTI Crude Oil at 45.11 remains almost Unchanged in the last 24 hours and may trade sideways for the rest of the week. The range for Brent Crude may be 46.50-48.50 and for WTI Crude Oil 44.00-46.00.
Copper at 2.109 is tracking the Chinese markets at this point. After achieving the 1st target of 2.10, now it can rise further towards 2.14-15.