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 bounced after the FOMC hiked rates by 25 bpts in line with market expectations. PE

DJIA at 20950.10, +0.54% bounced from Key support near 20800 and could head towards 21000-21200 near term.

DAX at 12009.87, +0.18% has also risen but needs to break above the 12090 to turn Bullish. Some consolidation in the 11930-12090 area before it moves North again.

Nikkei at 19551.58, -0.13% is stuck within the 19400-19600 area. Looking at the 3-day and weeklies, there is some scope of rising towards 20000 medium term.

Shanghai at 3260.37, +0.57% broke the resistance at 3250 contrary to expectation and could possibly head higher towards 3275-3300 while above 3250.

Nifty at 9084.80, -0.02% may trade below 9130 before breaking to the Northside. Near to medium term looks Bullish with targets of 9130 and 9280.

 

Gold, Silver, Copper & Crude Oil Markets

Commentary: Overnight weakness in The US Dollar (.DXY) Index (101.31) boosted almost all the commodities across the board. PE

Gold at 1224 broke its Bearish channel resistance at 1220. Next resistance is at 1240-45.The bias will be Bearish while trading below 1240.

Silver at 17.44 is hanging around resistance at 17.45. A close above that mark may open up 18.

Copper at 2.67 did not close above its pivot at 2.72 of its recent trading range of 2.55-83. But, will remain Bearish while it trades below 2.72-75.

Brent Crude at 52.14, and WTI Crude Oil at 49.11 moved higher in line with expectation. And are still within their trading ranges of 50-52.50 and 46-50 and may consolidate more in here. Will remain Bearish while Brent Crude and WTI Crude Oil are trading below 53 and 50. More decline towards supports cannot be ruled out

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.

One Response to "Key Stock Indexes, Crude, Gold & Silver Markets Briefing"

  1. Paul Ebeling   March 17, 2017 at 3:41 am

    We need to see Gold close and hold above 1260 and then see 1300 to confirm the breakout. Watching it carefully daily. all the best, Paul

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