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.
Latest posts by Paul Ebeling (see all)
- Wall Street’s Key Stock Analysts Research Report, All Buys - March 31, 2020
- Have We Have Seen ‘The Golden Age’ of Restaurants? - March 31, 2020
- This is a Very Volatile Stock Market, What Does it Mean? - March 31, 2020