Key Stock Indexes, Crude, Gold & Silver Markets Briefing
$DIA, $GLD, $SLV, $OIL, $USO, $CU
The DJIA at 19826.77, -0.3%, and DAX at 11540 continue to march in place.
Nikkei at 18786 has fallen due to JPY (113.09) strength. Some support seen near 18500-300. We will see if it holds.
Shanghai at 3115 has moved up from 3044 over the last 3 days. This suggests the long-term support near 3000 on the weekly candle is strong.
Nifty at 8398) has come off yesterday in line with expectation and might see a pre-Budget dip towards 8300-8100.
Crude Oil, Gold, Silver & Copper Markets
Gold at 1214.03 trading above its resistance at 1207-10. It may extend this run to 1215-22, which is the next area of resistance.
Silver at 17.170 broke the resistance of 16.90, 17.77 is the next resistance level for Silver.
Brent Crude at 55.63, and WTI Crude Oil 52.64 are almost unchanged and show no inclination to move till the US stockpiles data release Thursday. The broader range of 50-55 for WTI Crude Oil and 53-58 for Brent Crude may continue for a few days more before seeing a clear trend.
Copper at 2.6180 corrected from 2.70 to 2.62 in line with expectations. 2.59 is 1st support area and a break there opens the way to 2.56 and below.
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