Key Stock Indexes, Crude, Gold & Silver Markets Briefing
$DIA, $GLD, $SLV, $OIL, $USO, $CU
Overall all stocks are mixed and trading flat to unchanged. DJIA, Shanghai, Nikkei and Nifty looks Bullish while DAX could face immediate resistance.
Gold and Silver are going nowhere as they keep trading in the narrow range of 1237-1263 and 17.94-18.50 respectively, which may continue for the rest of this week.
Brent Crude and WTI Crude Oil are trading within their narrow ranges of 52-53.5 and 50.30-51.70. Considering the short term overbought state, we may see some profit taking in here.
Copper is trading within a range of 2.55-2.70 with no directional bias.
A pause day for all the currencies, this pause may go on for another 1-2 sessions.
Dollar Index (100.40) has made a high at 100.60, very close to target of 100.70 but the strength at the higher marks hints at further rally towards 101.00 in the coming days.
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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.