Key Stock Indexes, Crude, Gold and Silver Markets Briefing

Key Stock Indexes, Crude, Gold and Silver Markets Briefing

Key Stock Indexes, Crude, Gold and Silver Markets Briefing

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

Commentary: Stocks are looking Bearish in here. Signs of weakness are visible after testing 1st resistances near term. There is room for some more dip in the near term before any medium term recovery is seen. PE

DJIA at 19170.42, -0.11% has been stable in here, and is unable to move down now. It could be taking a short pause before resuming the uptrend. Unless a fall below 19100-19000 is seen, prefer a test of 19250 near term.

DJIA mini 7:43a Dec 2016 19,231.00 +73.00
S&P 500 mini 7:43a Dec 2016 2,199.75 +7.75
NAS Comp 100 mini 7:42a Dec 2016 4,758.00 +19.50

DAX at 10513.35, -0.20% has shown some recovery from marks near 10400, but does not look Bullish in here. There is enough room for a fall towards 10300-10200 near term.

Nikkei at 18317.44, -0.59% is headed towards 18200-18000 near term. As long as resistance near 18744 holds, expect a trade in the 18744-18000 region medium term. Note: 1st support is visible at 18000.

Shanghai at 3216.11, -0.85% is trading lower. A clear fall from just below Key resistance at 3325, it could head lower to marks near 3200-3175 in the coming sessions.

Nifty at 8086.80, -1.30% has held below resistance near 8250, and came off sharply before moving higher to 8300. While the 8300-250 hold, there is room for a fall towards 8000-7900 near term.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Crude Oil is Bullish. Copper and Silver may consolidate for a while. Gold may see a bounce but looks weak long term. PE

Gold at 1173.80 is up slightly early Monday. Unless a sharp move North in here, seeing a fall towards 1150-1120 ahead. If there is a bounce it could target 1200-1210 before resuming the fall back to current marks.

Silver at 16.58 looks stable above 16 near term.

Gold-Silver Ratio at 70.71 is headed South and could test support near 70.00-69.80 near term before bouncing back.

Both Brent Crude 53.54, and WTI Crude Oil at 50.89 reached close to targets of 55 and 52 respectively, but are trading lower now. Both 55 and 52 needs to break on the Northside to initiate near term rally. If the current resistances hold, see a fall back to marks near 50 and 49 respectively. Our preference is: wait to see.

Copper at 2.6155 is trading at support marks on the 3-day, and while it holds, it could re-attempt 2.75. A break below current marks could take it down to 2.50. Sideways movement in the 2.45-2.75 is possible medium term.

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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