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: DJIA loing to open up significantly, as The Trump Rally extends. PE

DJIA at 20547.76, -0.15% sees 1st support near 20370-20350, which could be tested in the coming sessions. Thereafter a rise back towards 20600-20700 is possible in the longer run.

DAX at 12048.57, +0.18% is trading higher, while support near 11930 holds. DAX could either start moving up from current marks towards 12200 or re-test lower marks at 11930 in which case could see some sideways consolidation ahead.

Shanghai at 3122.63, -1.59% could test 3100 or  lower before bouncing back near term, the immediate trend is Bearish.

Nikkei at 18870.24, -1.34% opened with sharp Gap up above levels of 18600 re-entering he broad sideways channel of 18600-19700. If it holds, could possibly see a rise towards 19200 before coming off.

Nifty at 9119.40, -0.19% trading within the immediate channel on the daily, and while support near 9100 holds,could see some movement along the daily trend support in the 9250-9100 aarea. A break below 9100 could push it lower towards 9000-8900 mid term.

 

Gold, Silver, Copper & Crude Oil Markets

Gold at 1274.79 Monday it is trading at 1275, and have been expecting 1260 to hold for some time as buyers are taking every dip as a buying. 1301 – 1305 could be where the price action has to be checked to assess the chances of further bounce to 1328 to 1350, only a close below 1260 could negate Bullish sentiment.

Silver at 17.85 to be corrected till 17.70. I think that the corrective phase could be restricted at 17.60-70 due to near term oversold condition. Only a close below 17.60 could bring further lower marks at 17.43 into consideration.

Copper at 2.565 stuck in the range of 2.50-2.66. A close below 2.50 could open up 2.48 and 2.45. Buying at 2.45-48 cannot be ruled out due to near term oversold condition. Only a move above 2.66 can 2.72 -80 come into consideration.

We were Bearish on WTI Crude Oil at 49.85, and I mentioned that “Brent may consolidate within these levels at 52.20-53.60 for few more sessions though the possibility of a decline towards supports cannot be ruled out. A close below 50.30 could push WTI Crude Oil towards 48.36. Remain Bearish while Brent Crude at 52.22, and WTI Crude Oil are trading below 53.60 and 50.30.

Have a terrific week

The following two tabs change content below.

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.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :  
CONNECT WITH