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:Global corporate results have driven almost all the markets North, and the US markets to new highs.While the highly overbought state in the near term allows for the possibility of a correction, the trend remains up. A weekly closing above 20000 will add to the momentum and help the index towards 20300. PE

In the US the S&P 500 at 2280.07, +0.66% marked an all time high.

DJIA at 19912.71, +0.57% has yet to rise above 20000.

DAX at 11594.94, +0.43%) is ranged of 11400-700, it remains to be seen if it manages to rise above 11700 aided by the global triggers.

Shanghai at 3144.36, +0.06% testing the interim resistance at 3150 for the 2nd session running, and the near term trend depends on the success or failure to break this resistance. Wait to see.

Nikkei at 18994.33, +1.10% tried to stage a comeback with JPY (113.48) weakening but  finding support at 114 Vs USD, the index failed to advance beyond my resistance at 19100, the near term downtrend remains intact. Major support coming at 18650-500 which may be tested if the downtrend garners momentum to the Southside.

Nifty at 8475.80, +1.00% made a fresh high for the month and now may rise to 8550-75, a Key resistance. Note: today’s rally has boosted the technical outlook and in the coming days, a lot of Northside possibilities opening.

 

Crude Oil, Gold, Silver & Copper Markets

Gold at 1208.3 is trading within its near term range of 1195-1230 due to lack of fresh momentum in The Dollar (.DXY) Index (104.14). No directional bias as long as Gold is ranged in here.

Silver at 17.08 trades within its range of 16.70-17.30.

Brent Crude at 55.30, and WTI Crude Oil at 52.42 are stuck in their respective ranges of 53-58 for Brent Crude, and 50-55 for WTI Crude Oil.

Copper at 2.7025 continues its uptrend set to test at 2.7530 the Key resistance, so, it could consolidate  within 2.61-75 range. Only a close above 2.76 will extend the Bullish momentum.

Stay tuned…

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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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