Key Stock Indexes, Crude, Gold and Silver Markets Briefing

Key Stock Indexes, Crude, Gold and Silver Markets Briefing

Key Stock Indexes, Crude, Gold and Silver Markets Briefing

$DIA, $GLD, $SLV, $OIL, $USO, $CU

Commentary: DJIA and DAX are strongly Bullish and may continue to move higher this week. Shanghai and Nifty are stable with some possibility of moving up in here. While Nikkei seems to look slightly Bearish near term. PE

DJIA at 19911.21, +0.58%) extending the Trump Rally andheading towards 20000-21000. Expect a pause near 20000-21000 before resumption of the uptrend, looks strongly Bullish near term.

DAX at 11284.65, +0.84% moved up beyond our expected 11200 level and could now target 1st resistance near 11400-11500. Near term looks Bullish.

Nikkei and 19235.46, -0.08% is testing interim resistance near current levels, if that holds, we may see a dip near term. Else a rise towards 19870 is possible in the next couple of weeks. Also keeping in mind the Resistance in USD/JPY, the Nikkei could come off from current marks if USD/JPY loses some of its gains in the coming sessions.

Shanghai at 3145.12, -0.31% marked an  intra-day low of 3118.70 Tuesday before bouncing from there. Currently trading higher, the index has some room on the Southside towards support at 3100, as long as 3100 holds, could see move up towards 3200 near term.

Nifty at 8221.80, +0.62% has been steady but is trying to break above 8250. If the index tre-test 8250, it may gain more Northside momentum to break above 8250. If there is no sharp rejection at 8250, expect trading in the 8150-8250 range with a chance of  possibility of a break to the Northside.

 

Crude Oil, Gold, Silver & Copper Markets

Commentary: Crude Oil and Copper are showing signs of a short term fall. Gold and Silver could remain stable in the coming sessions. PE

Gold at 1160.23, and Silver at 16.957 looking stable and could consolidate near term. The range of trade can be expected within 1180-1150 and 17.50-16.00 respectively.

Gold-Silver Ratio at 68.422 bounced from near 67.50, while that holds, the ratio could move up to 69.50 near term.

Brent Crude 55.08, and WTI Crude Oil at 52.31 came off from 57.22 and 54.49 respectively and are trading lower. Crude Oil prices could dip further towards 54 and 51.60 before pausing.

Copper at 2.5930 is trading lower, may see a fall towards 2.55-2.50 near term, the range of 2.45-2.75 may hold near term.

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.

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