Market analysis 02nd october 2017

By | October 2, 2017

Crude oil analysis

US crude oil prices trading in some minor red at 51.65$ . A good support on daily chart stands at 50.90$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 50.30$ – 49.80$ today .

A good resistance on daily chart stands at 52.20$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good recovery in this black gold upto 52.80$ – 53.50$ .

Crude oil analysis conclusion : Trend is flat to weak for now , trade with strict stoploss .

Wall street analysis

Dow jones trading near its lifetime high at 22425 , It might test its lifetime high near 22500 again or even may test new lifetime high today . As said earlier DJI is in uncharted territory so better stay away from this major index . However a good base level on daily chart stands at 22270 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major indices upto 22150 – 22020 today .

A good hurdle on daily chart stands at 22560 , once traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in dji upto 22660 – 22770 .

Wall street analysis conclusion : Dow jones trend is positive for now . Avoid any sell trade .

More will update to our trading signals subscribers .

Weekly analysis of gold & silver here

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