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:  Almost all stocks are stable and could consolidate in here. Resistances are seen just above current marks, a pullback is possible in here: PE

DJIA at 20981.33, +0.03% stable Thursday, is not attempting to rise above 21000 yet, target though is 21,400.

DAX at 12443.79, -0.23% is stable near 12500. Could consolidate for a few sessions and try to move higher to 12600-12700 before coming off. Northside is limited near term.

Shanghai at 3141.63, -0.33% could trade within the 3100-3180 area or at least the next 2-3 sessions before deciding the further course of direction. On the 3-Day candle support is seen just below 3100 and is expected to hold medium term.

Nikkei at 19213.09, -0.20% can test 19620 in the next week if it it breaks above 19300. Thereafter a corrective pull back towards 18800 is possible.

Nifty at 9342.15, -0.10% has been moving up towards 9400. Thursday was a quiet day, may see sharp fall medium term.

 

Gold, Silver, Copper & Crude Oil Markets

Gold at 1266 traded within the narrow range of 1265-1300.Buyers will take every dip as an opportunity for buying while it is trading above 1260-65,. 1275-80 could be the marks where the price action has to be checked to assess the chances of further move to 1305 to 1330 levels.

Silver at 17.28 is oversold and trading within the range of 17-17.45. A close above that open up 17.80.

Copper at 2.58 has shown some strength, as it manages to trade above its Key support at 2.57, on a move above 2.65-67, then see 2.72 -80. If CU closes above 2.65 levels then may see sharp upside rally in Silver as well.

Muted price action had been seen in Brent Crude at 51.74, and WTI Crude Oil at 49.31, waiting for higher marks to create new Shorts.

Have a terrific 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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