Crude oil analysis
US crude oil prices fired 3% yesterday knocking all sellers out from market . Currently prices are flirting with 47$ . A good base level on daily chart stands at 46.30$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity prices upto 45.50$ – 44.70$ today .
A good resistance on daily chart stands at 48$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 48.70$ – 49.30$ .
Crude oil analysis conclusion : Trend is flat to positive for now , avoid major buy position here .
USD/JPY analysis
USD/JPY trading at 110.13 , yesterday it fired and tested 110.60 . A good base level on daily chart stands at 109.80 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this forex pair upto 109.45 – 109 today .
A good hurdle on daily chart stands at 110.70 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this forex pair upto 111 – 111.40 .
USD/JPY analysis conclusion : This fx pair is flat to weak for now .
More will update to our trading signals subscribers .