DJI analysis
Dow jones trading at 21762 . Its been a great week for this major index as it tested new lifetime highs and currently trading near highest point . Fed gave a good push to US30 index as no interest rate cut was a boost to market . Despite some below average data yesterday index did’nt crack and holding firmly on higher levels . Its an uncharted territory so market would be very volatile . A good hurdle on chart stands at 21850 . 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 21970 – 22050 .
A good support on daily chart stands at 21590 . If traders push this base button and manage to sustain trade below our support . Then expect some small panic upto 21450 – 21300 .
DJI analysis conclusion : Market is in uncharted territory but for now its looking positive . Trade very cautiously . No fresh buying here .
Crude oil analysis
Crude oil prices trading at 49$ . It was trading higher yesterday but today its trying to consolidate . A good hurdle on daily chart stands at 50.20$ . If traders break this barrier and manage to sustain trade above this hurdle . Then expect more firepower in oil prices upto 51.50$ – 52.80$ .
A good support on daily chart stands at 47.70$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this black gold upto 46.30$ – 45$ .
Crude oil analysis conclusion : Trend is still in favor of buyers but stay cautious .
More will update to our trading signals subscribers .