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

$DIA, $OIL, $USO, $GLD, $SLV

Commentary: Last week, on Thursday the ECB has disappointed the markets by not extending the end date for the monetary easing or increasing the amount. A Risk-off approach is seen in here, as the technical indicators are Neutral with a Bearish Bias.PE

DJIA 18,085.45 , -2.13% up until mid-afternoon Thursday traded in a narrow range of 100 points, then Friday, the selloff continued with the DJIA finishing off 391.46, and breaking Key support at 18,25o (the bottom of the recent range) on high volume, signaling more Southside action this week.

As I write this report the DJIA mini 1:35a December 2016  futures are trading at: 17,866.00 -101.00 

Symbol Last Trade Date Change Open High Low Volume
NYSEArca:DIA 180.91 9 September 2016 -3.91 183.57 183.75 180.91 8,242,600
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.04) Bearish (-0.36) Neutral (-0.19) Bullish (0.42)

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Crude Oil was boosted by a decline in the US stockpiles but reversed Friday, while Gold and Silver are in a consolidating mode. PE

Gold at 1331.70 has been pushed down by the resistance of 1355-60, as expected and the chances of a consolidation in the range of 1330-60 looks stronger now.

Silver at 18.89 has entered a corrective phase as expected, it broke below 19.45, the correction may extend beyond the current marks.

Brent Crude at 47.39, and WTI Crude Oil at 45.77 rallied above the minor resistance and reversed. The underlying pattern is not very clear but I looks Bearish overall.

Copper at 2.10 continues trading in a very narrow range of 2.08-10 which may see an extension upwards to 2.14-15 this week.

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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