Key World Stock Markets Briefing

Key World Stock Markets Briefing

Key World Stock Markets Briefing

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

Most of the world markets have been trading in narrow ranges but sharp moves may be seen by 2-H of this week.

DJIA at 18552.57, -0.24% has been trading in the narrow range of 18450-700 for the last 10 sessions, but may see an expansion of the range this week with US Fed Chairwoman Yellen’s talk coming on Friday from Jackson Hole. As I said last week, this range must be resolved above 18700 by the Bulls soon; otherwise seeing a retest of 18250-18000 coming.

Note: As I write this report the DJIA mini 1:25a Sep 2016 futures are trading at 18,505.00 -35.00

DAX at 10544.36, -0.55% retested the support at 10500-450, and now to strengthen the chances of seeing 11000, needs to break above 10650.

Nikkei at 16584.75, +0.24%) is trading above the Gap support at 16450-350, it needs to rise above 16650 to open the higher targets of 16900-17000. But, a clear break below 16350 threatens the uptrend.

Shanghai at 3098.48, -0.31% continues its correction after the sharp gains made a few sessions ago. The major uptrend is still intact above the support of 3060-55 with the targets of 3160-80 and then 3290-3350 unchanged.

Nifty at 8666.90, -0.07% showed signs of a collapse in volatility last week but it may expand this week. A break above 8550-8750 is required to trigger a significant trending move which could emerge this week.

 

Crude Oil, Gold & Silver Markets

Gold at 1347.54, and Silver at 19.6260 are stuck in their respective ranges of 1330-60 and 19.20-20.70 with no immediate change expected. A breakout from the ranges could be seen next week.

Brent Crude at 50.89 met target of 51.00 in a 1 session and WTI Crude Oil 48.34 is closing in to the target of 49.00 as a vertical rise is unfolding in Crude Oil. There’s a chance of Brent taking a pause to refresh around 51.00 but considering the strength, further rise to 53.00 would not surprise.

Commentary: As I write this report at 1:25a Monday 22 August the September Crude Oil futures are trading lower; WTI at 47.87 and Brent at 50.09.

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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