The US stock market indexes hit new highs triggering a lot of buying in the global markets, bolstering almost all the indices. Most of the Asian markets are closed Friday like China or open with shortened trading hours due to Lunar New Year, the Year of the Roster. PE

DJIA at 20100.91, +0.16% broken above the psych mark at 20000 after 6 wks of basing, as long as it stays above that base at 20000, the chances of seeing 20500-700 are very strong.

DAX at  11848.63, +0.36% has broken out of the range of 11400-700 following the strength in the US markets and is trading just 4.5% away from the life high of 12391. The 1st resistance comes at 11900-12000 above which the possibility of a new life high may become strong but a failure near 12000 may push it back to 11700.

Shanghai at 3159.17, +0.31% has broken above the interim resistance of 3150 and may rally towards 3175-85 now. The Chinese market is closed Friday.

Nikkei at 19474.15, +0.37% has been aided by a strong bounce back in USD/JPY (114.90) to rise above the resistance at 19100 and get closer to the 12-month high at 19615. While the weekly candle looks Bullish in here, the index wants a firm break above 19600 to extend the rally to 20000-200.

Nifty at 8602.75, +1.50% has overshot targets at 8550-75 and now may rally to 8740-8800 before the budget if the current momentum continues.

Crude Oil, Gold, Silver & Copper Markets

Gold  at 1186.03 came off from marks near 1220 at the head of the week keeping resistance at 1215-1230 intact. This could be taken as a near term reversal which could extend towards 1160-1150 in the early sessions next week. The fall in Gold has played well while the support near 99.50-99.00 on the US Dollar (.DXY) Index has taken it higher to 100.56. While the .DXY moves higher towards 101.00-101.50, Gold could see some more weakness near term.

Silver at 16.73 is headed lower while the daily resistance near 17.50 holds. It could move lower towards 16.50-16.00 in the coming sessions.

Brent Crude at 56.22 has moved up a and could re-test 57-58, while WTI Crude Oil at 53.85 could move towards 56. Directional clarity is not there yet, while the range-bound movement continues in Crude Oil prices. We could possibly see the prices remain in the broad 53-58 and 50-55 region for another week or so.

Copper at 2.6615 came off from from higher marks, it could come down to test 2.60-2.58 near term. While below 2.75, we may negate any immediate Bullishness.

The markets know what the markets know, for now take what it gives, and pay attention.