Market analysis 09 october 2017

By | October 9, 2017

Crude oil analysis

US crude oil price trading at 49.65$ , A good support on daily chart stands at 48.80$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 48$ – 47.20$ .

A good resistance on daily chart stands at 50.20$ , if traders take this hurdle and manage to sustain trade above our resistance today . Then expect good recovery in this major commodity upto 50.80$ – 51.50$ today .

Crude oil analysis conclusion : Trend is flat to positive for now , buy in dips advice .

Wall street analysis

Dow jones trading at lifetime high of 22770 , its trading in uncharted territory and going literally vertically . No buy on these levels advice at all , selling is also not good without a good break down . A good base level on daily chart stands at 22650 , 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 22510 – 22300 today .

A good hurdle on daily chart stands at 22880 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in dowjones upto 22990 – 23080 .

Wall street analysis conclusion : DJI trend is positive for now .

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