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: Stocks have risen sharply and look Bullish near term. PE

DJIA at 20743.00, +0.58% is up sharply and looking at this  momentum, a pause near 20800 now looks less likely. A break above 20800 helps DJIA to extend The Trump Rally towards 21000 near term.

DAX at 11967.49, +1.18% has moved up after being ranged in the 11677-11930 zone for some time. While the rally continues we may see a test of 12100  near term.

Nikkei at 19344.25, -0.19% is not able to break above 19600 in here, and continues to trade in the broad 19600-19000 range. Resistance near 19600-19620 could hold for a few more sessions.

Shanghai at 3249.73, -0.11% looks Bullish on the weekly, and could eventually move up towards 3300-3400 in the longer run. A pause near 3300 is possible before moving higher to 3400. Trend is up medium term.

Nifty at 8907.85, +0.32% saw sharp rally since the start of the year and could test Key resistance just below 9000 over the next couple of sessions. Thereafter a sharp fall towards 8700 may be seen medium term. Keep a close watch on the action near 8950-8980.

 

Crude Oil, Gold, Silver & Copper Markets

Gold at 1238 is trading in its sideways channel between 1217-47 with no directional bias. Gold-WTI ratio is also falling and is at 22.58.

Silver 18.01 is trading within the range of 17.60-18.35 with 1st resistance at 18.03.

Copper at 2.74 is hanging around its pivot at 2.76 of its recent trading range at 2.60-83. It is holding its upward trend line support at 2.68 since 16. October. A close above 2.76 open up a path to next resistance at 2.83

Brent Crude at 56.90, and WTI at 54.06 are trading within their respective ranges of 54-59 and 50-56. A close above 57.20 for Brent,  and 54.40 for WTI could open up higher marks.

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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