Key Stock, Crude, Gold and Silver Markets Briefing
$DIA, $DAX, $GLD, $SLV, $OIL, $USO, $CU
Commentary: Globally stocks shows some weakness near term. PE
DJIA at 18199.33, +0.17% looks for a correction towards 18000 in the coming sessions. A clear break above 18200-18300, if seen would be surprising in here, and could signal medium term Bullishness.
DAX at 0709.68, -0.44%) the fall extends, it may re-test 10600 near term. Then, if the index breaks below 10600, it could extend towards 10400, or a bounce from 10600 may happen.
Nikkei at 17346.39, -0.27% is no exception to the other falling equities. The index could test to 17000 near term.
Shanghai at 3106.47, -0.31% has interim support at 3100, and a fall in the near term extending to 3075 is possible.
Nifty at 8615.25,-0.88% has come off, and may test to 8500 before seeing another bounce. Near term bias is to the Southside.
Crude Oil, Gold, Silver & Copper Markets
Commentary: Russia is the latest country after Iraq in the last few days seeking an exemption to the OPEC output cuts, putting pressure to the Crude Oil price. PE
Gold at 1275.16 testing the upper end of the near term range of 1260-75, but the price action around the resistance at 1275-85 may determine the near term price action. Considering the major trend is South, any bounce may see sudden selling.
Silver at 17.8222 is slowly rising but the near term Northside limited at 18.00 near term.
Brent Crude at 50.21, and WTI Crude Oil at 49.31 corrected as expected last week and this. Brent Crude achieved target at 50.30 and will test support around 50.00-49.90. A break below 49.90 and the fall may extend to 48.00. WTI Crude Oil after marking target at 49.30 could fall further towards 48.00 or even to 46.50-20.
Copper at 2.13 is rising, may test 2.15 in here. A clear break above 2.15 sees 2.20.