Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing


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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