Wall street & Crude oil analysis 06th November 2017

By | November 6, 2017

Wall street analysis

Dow jones trading at 23510 , again its trading near lifetime high and its testing every short sellers’s patience . A good support on daily chart stands at 23380 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major indices upto 23250 – 23120 today .

A good resistance on daily chart stands at 23660 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in wall street upto 23780 – 23900 .

Wall street analysis conclusion : DJI trend is positive for now and its in uncharted territory , avoid any sell for now .

Crude oil analysis

Crude oil prices are cruising near 56$ , it fired in last hours of trading session last friday . A good base level on daily chart stands at 54.80$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this black gold upto 54$ – 53.30$ today .

A good hurdle on daily chart stands at 56.60$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 57.20$ – 57.80$ .

Crude oil analysis conclusion : Crude oil trend is flat to positive for now .

Read our weekly gold silver forecast here

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