Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

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

Commentary: The Inauguration of Donald Trump as the US President comes today. Investors are almost totally in the dark about the exact policies he is going to undertake and implement, driving the money in the sideline and the markets in a pause mode. PE

DJIA at 19732.40, -0.37% finished at the lower end of the near term range of 19700-18000, but the medium term trend remains up as long the support 19500 holds.

DAX at 11596.89, -0.02% paused as the ECB meet failed to add any momentum. It may stay in the range of 11400-700 for another couple of sessions before rising towards 11800-900.

Shanghai at 3121.72, +0.66% continues its rise, as the chances of a weekly close above the weekly open at 3105 looks stronger in here. The target at 3165-75 is unchanged which may be marked early next week.

Nikkei at 19091.84, +0.10% is in pause mode too, and the stability of JPY (114.74) may have influenced . There is the possibility of an end to the corrective phase starting from the 16 December high of at 19593. A rise above 19300 may strengthen this Bullish notion.

Nifty at 8435.10, +0.22% is ranged 8370-8460 for the last 5 sessions and there is no visible yet for a breakout from this range. Depending on the global action, Monday may see a trending move.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Fed Chairwoman Yellen’s dovish tone has boosted risk appetite, triggering an outflow of money from the safe havens of Gold and JPY (114.61). PE

Gold at 1207.44 is drawing the lines between The Bulls and The Bears as it bounces from 1195. The zone of 1195-1230 is indecisive, a breakout from this range in any direction will tell us the medium term trend. Before the breakout, some more sideways action in 1195-1230 is expected.

Silver at 17.03 found strong buying exactly at our support of 16.70 and recovered most of the losses incurred in the prior 2 sessions. Now it may trade horizontally in the range of 16.70-17.30 for the next few sessions.

Brent Crude at 54.28, and WTI Crude Oil at 52.23 are about unchanged in here. The required push from the lower levels is yet to be seen but if The Bulls fail to trigger a bounce from the current marks by early next week, then the broader range of 50-55 for WTI Crude Oil and 53-58 for Brent Crude run the chances of a deep breakdown.

Copper at 2.617 is trading above the target/support area of 2.59-56 which must hold for the upward possibilities to remain open. A break below 2.56 may extend the decline to 2.48-45

Have a terrific weekend.

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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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