Crude oil & Wall street analysis 16 october 2017

By | October 16, 2017

Crude oil analysis

Crude oil price trading higher today at 52.10$ , its already up near 1% . A good support on daily chart stands at 51.40$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this black gold upto 50.80$ – 50.20$ .

A good resistance on daily chart stands at 52.80$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 53.60$ – 54.40$ .

Crude oil analysis conclusion : Trend is positive for now in this major commodity . Avoid any selling for now .

Wall street analysis

Dow jones trading at 22900 , its already trading near its lifetime high and tested another lifetime high of 22920 in early session . As said earlier DJI is trading in uncharted territory . A good hurdle now stands at 23020 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major world indices upto 23170 – 23330 today .

A good base level on daily chart stands at 22700 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major world index upto 22520 – 22300 .

Wall street analysis conclusion : Dow jones trend is positive for now , avoid any selling for now .

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