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: The US markets are up ahead of the tax reform statement from US President Trump Wednesday. PE

DJIA at 20996.12, +1.12% looks Bullish and could see 21200 near term.

DAX at 12467.04, +0.10% holding above 12390, but is close to 1st resistance near 12532. A clear break above 12532 could bring in further Northside action signaling a fresh Bull move near term.

Shanghai at 3149.19, +0.47% is trying to rise above 3100 +,  and if so, could see a recovery towards 3175, or some sideways consolidation in the 3150-3100 is possible near term.

Nikkei at 19231.92, +0.80% is headed to 19620 quickly as USD/JPY continues to move up sharply. While there could be some rise in USD/JPY towards 112, Nikkei could be Bullish in the coming sessions.

Nifty at 9306.60, +0.96% closed above 9300 in line with expectation, could face Key resistance within 9300-9400. This could be a near term Top and if so, a sharp fall towards 9100 follows.

 

Gold, Silver, Copper & Crude Oil Markets

Gold at 1265 targets 1260 at least. The preferred scenario that the support at 1260 holds well  now. The support region may be expanded to 1239. At the same time, the Resistance at 1305 also looks strong in the near term. As such, we may see some more sideways movement between 1239-1305 early next week.

Silver at 17.59 is Oversold near-term, and while the price is above 17.39, there will be chances of a bounce that can break above 17.80. If that happens on a closing basis, a further rise to 18.33 may come fast.

Copper at 2.57 ranged within 2.50-2.67. A close below 2.50 could open up 2.48 and 2.45. A break above 2.67, then see 2.72 -80 The bias would remain Bearish while CU is trading below 2.70-72 levels.

Brent Crude at 51.96 trading within range of 50-52, while WTI Crude Oil 49.41 is hanging around Key supports of 48.80. If these 2 rise further due to their near term oversold condition, then 52 for Brent Crude, and 50.80 for WTI Crude come into view.action.

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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