Key Stock Indexes, Crude, Gold & Silver Markets Briefing
$DIA, $GLD, $SLV, $OIL, $USO, $CU
Commentary: Markets feel quiet just now allowing some correction in the indices after the recent rally. PE
DJIA at 20954.34, -0.24%, and Dax at 11958.40, -0.57%, closed a bit lower yesterday.
DJIA may move towards 20750.
DAX could test 11800 on the Southside before seeing a bounce back.
Nikkei at 19345.49, -0.17% has not been able to hold marks above 19600, and while holding below 19600, expect a test of 19200-19000 near term.
Shanghai at 3233.72 stable near current marks. It could try to moves towards 3250 and higher in here. Do not expect a break below 3200 near term.
Nifty at 8963.45, +0.74% is in consolidation mode within the 8800-9000 region, unless see a break on either side do not see any directional clarity in here. Prefer a corrective fall from current marks before it continues to rally further, lack of immediate rejection may indicate a wait for confirmation.
Gold, Silver, Copper & Crude Oil Markets
Gold at 1226 is trading within a range of 1212-1275. The bias will remain Bearish as long it is trading below 1247-50.
Silver at 17.72 moved lower but managed to hold its Northward trend line support of 17.62. A close below 17.45 could be trend reversal from Bullish to Neutral.
Copper at 2.64 looks weak due on failure to close above 2.73. It is still holding its Northward trend line support at 2.63 since 16 October, but the Bullish momentum slowing. A close below 2.63-60 could open path to 2.53 and 2.44.
Brent Crude at 55.60, and WTI Crude Oil 53.14 are trading within their ranges of 54-58 and 52-55 with no directional bias in here.
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