Global Equity Market, Bullion and Crude for week starting 18 December 2017

Global Equity Indices

Owing to rising Mercury, financial and banking stocks shall be positive. In this week, market shall be sideways to positive. On 19th, trend shall be declining. On 20th, market shall again be moving in positive direction. On 21st and 22nd, the market may again decline (with Thursday being more inclined to negativity).

In next week, it is XMAS holidays and hence a short week. Most of the markets shall remain closed on 25th-26th December. In the first half of next week, the market may decline.

S&P500 has support at 2652 and resistance at 2690-2700. In this week till Thursday, S&P500 can drop to 2640.

PRECIOUS METALS

Bullion shall be overall positive in this week. From Monday to Wednesday, positive move shall be seen. On Thursday, trend shall decline. From Friday, upward move is possible. After Thursday, for a period of 15-20 days, bullion shall witness a considerable positivity. Positional traders shall buy bullion on dips.

Gold & Silver made low of 1238 and 15.50 around Fed meeting last week.

In the current week, Gold may hit 1280-1288 while Silver may move up to 16.40.

CRUDE OIL

Crude shall be overall downward till Thursday (especially from tomorrow). Friday onwards, it may recover. In next week, the trend is bullish for oil.

In the current week, oil can drop down to $55/bbl or below.

 

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