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: Nothing new: PE

DJIA at 20943.11,-0.16% came off as expected and could test to 20780 near term before bouncing. A test of higher marks near 21000 may be delayed a bit.

DAX at 12757.46, +0.07% is set to test 13000 soonest. It is stable in here, but could continue moving up in the coming sessions.

Shanghai at 3043.97, -0.29% coming off as expected and test to 3000 in here. Near term looks Bearish.

Nikkei at 19929.27, +0.15% slowed down as it is head towards major resistance near 20010. A rejection is expected in the next week.

Nifty at 9407.30, +0.97% marked an intra-day high of 9415 Wednesday, closing the day higher. The 9400 resistance has shifted to 9500 and the 9460-9500 are Key marks to watch near term.

 

Gold, Silver, Copper & Crude Oil Markets

Gold at 1220 istrading within the narrow band of 1220-31. If these marks hold on a closing basis then sideways consolidation within 1220-1260 continues in here, keep a close watch on the price action in The US Dollar (.DXY) Index (99.47) which could give us a cue on Gold direction. Remain Bearish while the precious Yellow metal is trading below 1256-60, a close below 1220 could open the path to 1186.

Silver at 16.23 still has a strong Bearish bias. But as Silver is very oversold in near term, a possibility of a rise towards 17 cannot be ruled out.

Copper at 2.50 is hanging around its Key support of 2.48-50 and if these marks hold then we may see a bounce towards 2.60. I remain Bearish on Copper while t is trading below 2.67-72.

Brent Crude at 50.42, and WTI Crude Oil at 47.53 finished higher. The trading ranges for Brent Crude and WTI Crude Oil are 49.50 – 51.40 and 47 – 49.

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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