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 are mixed overall. DAX and Shanghai looks Bullish while DJIA and Nifty could pause near 1st resistance marks. Nikkei is in a contraction and could remain range-bound in here. PE

DJIA at 20821.76, +0.05% trading higher and testing 1st resistance at current marks. A pause near 21000-20890 region is expected near term. A short dip towards 20000 is possible before continuing The Trump Rally.

DAX at 11804.03, -1.20% came off from 12031, but while the 11680 is 1st support, it could bounce back towards 11930-12000 near term,

Nikkei at 19060.19, -1.16% moved towards 19400 again in here. Contraction is visible in the dailies and the resistance on the weeklies may indicated limited Northside near term. The near term contraction could keep the index range-bound for a few sessions.

Shanghai at 3250.10, -0.10% is in an uptrend towards 3275-3300 near term, 3300 could act as intermediate resistance which could hold medium term.

Nifty at 8939.50, +0.14% is trading just below the Key resistance at 9000. A sharp dip is possible from 9000. A clear break above 9000, if seen could negate near term Bearish outlook.

 

Crude Oil, Gold, Silver & copper Markets

Commentary: Recent weakness in Dollar index has boosted almost all the commodities across the board. PE

Gold at 1257 broke its Bullish channel resistance at 1247. 1st resistance is at 1274 and from there it may correct towards 1244.Short term outlook is Bullish. Only a close below 1215 could dampen its upward momentum.

Silver at 18.35 is hanging around its long term trend line resistance at 18.38, may see short term correction towards 18 but remain Bullish until it is trading above 17.75.

Copper at 2.68 is holding its Key support at 2.60. A close above 2.72 could open path to 2.81.

Brent Crud at 56.14 almost unchanged within its recent price range of 54.20-57.5 but WTI Crude Oil at 54.32 moved a bit higher. A close above 54.50 could take the towards 56.40.

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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