Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing

Key Stock Indexes, Crude, Gold & Silver Markets Briefing


Commentary: Just about all world indices have fallen and could continue to trade lower or remain sideways on the week. PE

DJIA at 20668.01, -1.14% and DAX at 11962.13, -0.75% finished off from Monday’s marks.

DJIA was turned back from Key resistance as indicated in the 3-day candles and the weekly lines and while this holds, DJIA could be Bearish near term. A break below 1st daily support at 20600 could lead to a fall towards 20500-20300.

DAX failed 1st support near 12000 and resolved to the Southside, opening up chances of a fall towards 11700’s near term.

Nikkei at 19065.37, -2.01% fell in line with the fall in USD/JPY. The broad 19600-18600 range has come back into focus and the sideways consolidation since 16 December is continuing to remain for now. Note the 21-Wk MA near 18950 could act as 1st support which if breaks could opens the gate to 18800.

Shanghai at 3236.52, -0.77% may test to 3200. A break below is not preferred now. Some sideways consolidation in the 3200-3250 range is best in here.

Nifty at 9121.50, -0.06% may have begun its 1st pullback after its recent 2-months rally. An initial fall towards 9000-8990 could be expected as mentioned Monday.


Gold, Silver, Copper & Crude Oil Markets

Weakness in The Dollar (.DXY) Index (99.65) helped Gold at 1245 to trade above its pivot at 1241. It may see some resistance at 1250. A close above that mark open up the path to 1272-78.

Silver at 17.53 is trading above its pivot of 17.45, 1st resistance is at 18.00.

Copper at 2.58 was not able to close above its pivot at 2.70-72 of its recent trading range of 2.55-83 and fell in line with expectations. It may find support at 2.57 near term, a close below that mark could open up 2.55 and 2.49 next.

Brent Crude at 50.54, and WTI at 47.34, both have fallen but still tradewithin their respective ranges of 50-52 and 47-49 with a Bearish bias.

Stay tuned…

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