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: DJIA, DAX, Nifty, and Shanghai look Bullish in here with resistance above current marks. We could possibly see a rise in the next 3-4 sessions before a correctio. Nikkei is almost range-bound and could be stuck in its immediate channel. PE

DJIA at 20624.05, +0.02% was closed Monday but could move towards 20800 tuesday. As I said Friday, we need to see if it is turned back from 20800 or breaks North.

DAX at 11827.62, +0.60% moved higher from previous marks but needs to break above 11893 to move to 12000. It could possibly take a couple of sessions to get there.

Nikkei at 19339.63, +0.46% is rising in line with expectation and could move towards 19500 in here. Resistance is seen at 19620 which is likely to hold medium term.

Shanghai at 3244.02, +0.13% moved up to test 3250. A small dip here may happen before it starts rising towards 3275-3300 longer term. Overall trend is Bullish.

Nifty at 8879.20, +0.65% recovered losses seen Friday coming back to 8850+. It may test Key resistance near 9000, then a pull back is expected. Immediate view is North.

 

Crude Oil, Gold, Silver & Copper Markets

Gold at 1232 may test support at 1215 due to fresh strength in the USD (101.16).

Silver at 17.91 trade within its previous range of 17.60-18.35. But as long as Copper holds above 2.65-70, its difficult to expect a new low in Silver.

Brent Crude 56.26, and WTI Crude Oil at 53.75 are trading within their respective ranges of 53-58 and 50-55 with no directional bias and this horizontal movement may continue for a few more sessions.

Copper at 2.75 is trading within the range of 2.60-83, and holding its upward trend line support since 16 October

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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