Crude oil analysis

US Crude oil price trading at 48.60$ , its trading flat since yesterday as market is waiting for inventory which is due today . A good support on daily chart stands at 47.90$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this black gold upto 47.30$ – 46.60$ today .

A good hurdle on daily chart stands at 49.20$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 49.90$ – 50.60$ .

Crude oil analysis conclusion : Trend is flat for now so avoid any major sell and wait for inventory .

Wallstreet analysis

Dowjones trading at 22110 it tested new lifetime high last night and currently . A good base level on daily chart stands at 21980 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major index upto 21780 – 21650 .

A good hurdle on daily chart stands at 22220 , 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 22350 – 22480 today .

Dowjones analysis conclusion : Trend is positive for now , avoid any selling .

By marafat