Crude oil analysis
US crude oil price trading at 47.90$ , its trying to recover from its lower levels since morning . A good support on daily chart stands at 47.30$ . If traders take this base out and manage to sustain trade below our support today , then expect more pressure in this black gold upto 46.50$ – 45.70$ today .
A good resistance on daily chart stands at 48.70$ . If traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower to this major commodity upto 49.50$ – 50.40$ .
Crude oil analysis conclusion : Trend is looking flat to positive , buy in dips recommend but wait for inventory before taking any big position .
USD/JPY analysis
USD/JPY trading higher at 110.85 since morning . A good base level on daily chart stands at 110.40 . If traders take this base out and manage to sustain trade below our support today , then expect more pressure in this major fx pair upto 110 – 109.50 today .
A good hurdle on daily chart stands at 111.20 . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this forex pair upto 111.60 – 111.99 today .
USD/JPY analysis conclusion : Trend is looking flat to positive for this major fx pair .
More will update to our trading signals subscribers .