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: Stocks are mixed overall, with some room to rise seen for the coming sessions.PE

DJIA at 20651.30,-000.03% bounced from near term support near 20510. While that holds, DJIA could bounce back towards 20780 in the next 2 sessions.

DAX at 12139.35, -0.50% tested support at 12049 on the Southside before closing higher Tuesday. While the support holds, there is a chance of moving up towards 12200-12400 near term, looks Bullish.

Shanghai at 3278.70, -0.31% is unable to break above 3280 in here, but could eventually test 3300 on the Northside. Near term looks Bullish.

Nikkei at 18521.64, -1.21% came off 18650 again, this could be an indication of a sharp fall coming. Initial target is 18200 near term.

Nifty at 9237, +0.61% bounced back from 9174 instead of testing support at 9130. Looking at the daily channel, a move towards seen 9300-9400  medium term.

 

Gold, Silver, Copper & Crude Oil Market

Commentary: Weakness in The US Dollar (.DXY) Index, from 101 to 100.61 boosted Gold a lot. PE

Gold at 1279 closed above Key resistance at 1265. If it breaks 1285 on a daily basis then see 1300 quickly. Due to the near term overbought nature, we may see some correction after, but buyers will take every dip as an new opportunity.

Silver at 18.39 sitting under Key resistance of 18.5. Initial signs of a possible bounce to 19 are seen, but confidence will come only on a close above 18.55.

Copper at 2.60) ranged at 2.55-2.70, which may go for another week, medium term 2.55-57 is strong support for now, but a close below that could open up 2.50 and 2.45.

Brent Crude at 56.40, and WTI Crude Oil at 53.54 trading within the range of 55-57 and 53-55, considering the short term overbought state, possibility of a near term correction cannot be ignored.

Note: US Crude  Oil inventory data at 8.00a EDT, and the US forecast is -0.1-M. But a lower than expected decrease or an increase in weekly inventory could open up 53.60 for Brent Crude and 51 for WTI Crude Oil.

The US Financial markets are closed for Good Friday, have a terrific Easter Weekend.

 

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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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