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: None

DJIA at 20837.44, +0.08% may see 1st immediate 1st resistance on the 3-day candle, pause and refresh. But looking at the weekly and dailies there could be some more room on the Northside. Overall long term trend is up but could see small dip in the coming sessions before rallying due North again.

DAX at 11822.67, +0.16% testing daily trend support and could bounce back near term towards 12000-12100. Near term looks Bullish.

Nikkei at 19235.13, +0.67% bounced back from support at 19000, could now move towards 19400. Clear contraction is visible on the 3-day candle and while that may continue for some more sessions, be ready to see a sharp break out North of South. This could provide some cues for direction in USD/JPY  near term.

Shanghai at 3226.46, -0.07% came down Monday, contrary to expectations for a rise towards 3275-3300. In case it fails to bounce back above 3250 now, it could be signalling a sideways movement near term within the 3275-3225 zone.

Nifty at 8896.70, -0.48% above the daily channel support at 8889, while that holds could see another 1-2 sessions of movement within the 8960-8900 zone. While Key resistance near 8960 holds, near term bias is Bearish. Could see a fall towards 8800 or lower near term while that resistance holds.

 

Crude Oil, Gold, Silver & Copper Markets

Gold at 1254 almost unchanged after last days of gainer and may approach the pivot at 1230 of the 1210-1265 range

Silver at 18.31 is trading near Key resistance at 18.35. The possibility of a decline towards 18 cannot be ruled out.

No movement has been seen in Copper (2.68), trading within the range of 2.60-2.83. The Red Metal is still holding Key support of 2.60 and a close above 2.72 could open up to 2.83 .

Brent Crude  at 55.98, and WTI Crude Oil 54.13 saw a quiet session Monday ranged at  55-57.60 and 53-55 with no directional bias.

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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