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: 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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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.

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