Crude oil analysis
Crude oil prices are trading at 57$ , it stuck here since friday and trying to settle the direction . A good support on daily chart stands at 56.30$ , if traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 55.50$ – 54.80$ today .
A good resistance on daily chart stands at 57.70$ , if traders break this barrier and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 58.50$ – 59.20$ .
Crude oil analysis conclusion : Trend is flat for now , It might face some correction so avoid any major buy .
Wall street analysis
Dow jones trading at 23400 , it has not given a lifetime high close last week which is a good sign for those who are selling . A good base level on daily chart stands at 23270 , once traders take this base out and manage to close below this level . Then expect good correction in this world index upto 23000 – 22780 .
A good hurdle on daily chart stands at 23630 , if traders breaks this barrier and manage to close above this resistance . Then expect more firepower in this major indices upto 23780 – 23900 .
Wall street analysis conclusion : DJI trend is flat for now . Watch out for key levels and then only trade .
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