Key World Stock, Crude, Gold and Silver Markets Briefing

Key World Stock, Crude, Gold and Silver Markets Briefing

Key World Stock, Crude, Gold and Silver Markets Briefing


Commentary: Waiting for the BOJ and FOMC meets trade could be choppy. PE

DJIA at 18123.8, -0.49% declined Friday and may remain choppy ahead of the FOMC meet Tuesday andWednesday. Major support of 18000-17850 is holding in here, but some Southside bias remains while the index trades below 18300.

DAX at 10276.17, -1.49% has not bounce from interim support, so there may be more Southside ahead, 10000 is possible. Negate the Southside on a clear break above 10500 near term.

Nikkei at 16519.29, +0.70% was up Friday, and it could move to 16700, as long a support at 16300. Japan markets are closed Monday on Respect for Aged day.

Shanghai at 3016.70, +0.46% has risen, but movement has been subdued for the last couple of months. Support at 3000 is likely to hold near term.

Nifty (8779.85, +0.43%) is trading above the support at 8700 and while that holds, there could be some chances of trading within the 8900-8700 region in the near term. Bearish possibilities cannot be negated unless we see a sharp rise from current levels.


Crude Oil, Gold, Silver & Copper Markets

Commentary: Waiting for the BOJ and FOMC meets, commodity markets are stable just above their respective supports marks. PE

Gold at 1315.30 tested and held above the support at 1310-1300, thus keeping open 1330 near term, but the major move can be expected Wednesday after the FOMC policy announcement.

Silver at 19.1360 making strong daily candle Monday, but unless the resistance of 19.30 is broken on the Northside, the range bound movement in 18.50-19.30 is likely to continue for the next 2 sessions.

Brent Crude 46.52) and WTI Crude Oil 43.90 marked their weekly lows close to the Major supports at 45.00 and 42.50 respectively, expect these support marks to hold until the central bank’s policy announcements later this week.

Copper at 2.147 is in correction  mode after the sharp gains made last week but the Northside targets of 2.20 – 2.25 near term are unchanged, 1st support is at 2.12

Have a terrific week.

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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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