Key Stock Indexes, Crude, Gold & Silver Markets Briefing
$DIA, $GLD, $SLV, $OIL, $USO, $CU
Commentary: US-North Korea tensions, the French elections and news of the UK snap elections on 8 June adding on to the news keeping the global indices in caution mode. European stocks saw a sharp fall Tuesday and may not rise back back fast. PE
DAX at 12000.44, -0.90% may test 1st support at 11930, if fails to bounce, then see 11800 near term.
DJIA at 20523.28, -0.55% holds above support at 20410, as long as that holds, could see some movement in the 20780-20410 zone ahead. A clear break below 20410 near term shifts the focus to more Southside action.
Shanghai at 3161.85, -1.09% fell sharply breaking below support at 3175. Either it could bounce or test support near 3100.
Nikkei at 18417.54, -0.01% to trade within the range of 18230 – 18650 near term, and a break below 18230 thena test of 18000 before a recovery.
Nifty at 9105.15, -0.37%)fell sharply from an intra-day high of 9217 Tuesday. There is an important support zone of 9000-8900 if a break below 9100. Then a fall towards 8900, as an extension to this correction.
Gold, Silver, Copper & Crude Oil Market
Commentary: Nothing new. PE
Gold at 1288 closed at slightly higher from Monday’s close, hanging around Key resistance at 1305. Look for a bounce to and beyond 1305 near term. But before that Gold may spend a few sessions within the 1265-1305 range to overcome its near term overbought condition as I said Tuesday.
Silver at 18.23 closed below support at 18.30, now may see 17.70 in here, so remain Bearish while it is trading below 18.30 .
Copper at 2.55 has moved lower near 2.51 in spite of USD’s weakness and as long it stays below 2.62, the chances of another dip to 2.48 or 2.42 cannot be ruled out near term.
Brent Cruse at 54.76, and WTI Crude Oil at 52.30 have fallen from resistances at 55.20 and 53 and trading within the range of 53.60-55.20, and 51.70-53. The trend remains Bullish near to medium term and any corrective fall may see buying at the lower marks.