Key Stock Indexes, Crude, Gold & Silver Markets Briefing
$DIA, $GLD, $SLV, $OIL, $USO, $CU
Commentary: None. PE
DJIA at 20656.10, -0.03% in here. The last 2 daily candles indicates a stable movement near term. We may expect some sideways consolidation in the coming sessions.
DAX at 12225.06, -0.05% is trying to move North towards 12400,while above support near 12090. Near term looks Bullish.
Shanghai at 3279.17, -0.23% is trading just below 3300 last seen on 16 November, and if no immediate rejection is seen, it could rally towards 3400 near term.
Nikkei at 18786.72, +0.65 bounced back above 18650 and could move up towards 19150 near term. While the USD remains strong, Nikkei could remain stable in the 19200-18650 range for some time.
Nifty at 9198.30, -0.69% has 1st support near 9150-9100, which if it holds could drive the index higher in the coming sessions. Near term looks Bullish.
Gold, Silver, Copper & Crude Oil Market
Commentary: Crude Oil prices were firm, supported by geo-political uncertainty in Syria, another rise in US drilling activity kept a lid on gains. PE
Gold at 1250 is trading within a range of 1236-62. Look for a close above 1260 near term for new buy positions.
Silver at 17.95 tested resistance at 18.50 but unable to close higher. The trading range could be 17.80-18.30. Overall need to wait for confirmation for directional clarity.
Copper at 2.62 ranged within 2.55-2.70 for 6th week running with no intent to breakout. The horizontal trading may go on for another week. Medium term 2.55-57 are strong support, but a close below that could open up 2.50 and 2.45.
Brent Crude at 55.30, and WTI Crude Oil at 52.34 are hanging around their Key resistances at 55.50 and 52.50, and a close above that could open up moves to 57 and 54, and chances of seeing higher levels cannot be ruled out.
Note: The trend is Bullish near term, and any corrective fall may add fresh Longs at the lower marks.
Have a terrific week.
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