Crude oil analysis
Crude oil price trading at 50.60$ , it opened flat today and trading in a small range since morning . A good support on daily chart stands at 49.90$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this black gold upto 49.30$ – 48.70$ today .
A good resistance on daily chart stands at 51.25$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 51.90$ – 52.50$ .
Crude oil analysis conclusion : Trend is flat to weak for now , avoid any major buy and look to sell on rise .
Wall street analysis
Dowjones trading at 22330 , DJI opened lower and trading near lowest point of the day , infact whole world indices are under pressure as consolidations are going in in every market . A good base level on DJI stands at 22180 , if traders snick this major base and manage to close below this level then expect more pressure on this world index upto 22000 – 21800 .
A good hurdle on wall street chart stands at 22450 , once traders take this hurdle out and manage to close above this resistance . Then expect more firepower upto 22580 – 22700 .
Wall street analysis conclusion : DJI trend is flat to weak for now . Avoid any major buy .
More will update to our trading signals subscribers .