Crude oil forecast
Crude oil price trading at 56.75$ , It fired last friday and still trading in positive zone . A good support on daily chart stands at 56$ , if traders break this major base and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 55.30$ – 54.70$ today .
A good resistance on daily chart stands at 57.35$ , if traders took this hurdle out and manage to hold price above our resistance , then expect more firepower in crude oil upto 58$ – 58.70$ .
Crude oil forecast conclusion : Trend is positive for now , avoid any major sell till our support is intact .
Wall street forecast
Dow jones trading at 23280 , it made sweet low of 23269 and our sell signal target was 23270 . A good base on daily chart stands at 23150 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major index upto 23050 – 22900 today .
A good hurdle on daily chart stands at 23410 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in DJI upto 23520 – 23630 .
Wall street forecast conclusion : US 30 trend is weak for now , avoid any major buy .
We have ECB president Draghi speech today . Stay cautious .
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More will update to our trading signals subscribers .