Crude oil analysis
US crude oil price trading at 47.80$ , its trading slightly higher as its flirting with 48$ now . A good support on daily chart stands at 47.20$ , 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 46.50$ – 45.90$ .
A good resistance on daily chart stands at 48.50$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in this black gold upto 49.20$ – 49.90$ today .
Crude oil analysis conclusion : Trend is flat to positive for now , avoid any major sell without stoploss .
Dow Jones analysis
Wallstreet is trading lower since yesterday , US was closed yesterday due to labor day holiday so cash market did’nt open . Currently DJIA trading at 21935 . A good support on daily chart stands at 21820 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on wallstreet upto 21700 – 21570 .
A good hurdle on daily chart stands at 22050 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in wallstreet upto 22180 – 22300 .
Dow Jones analysis conclusion : Trend is flat to positive for now .
More will update to our trading signals subscribers .