Crude oil analysis

Crude oil price trading at 47.20$ . Its trading in a small range since yesterday . A good support on daily chart stands at 46.50$ . If traders take this base out and manage to sustain trade below our support today , then expect more pressure in this black gold upto 45.70$ – 45$ today .

A good resistance on oil daily chart stands at 48$ . If traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower to this major commodity upto 48.60$ – 49.20$ .

Crude oil analysis conclusion : Trend is flat to positive for now , buy in dips recommend .

Wallstreet analysis

Dow jones trading at 21750 , it crashed nearly 300 points last night and we enjoyed approx half of it as our subscribers were in sell . A good base level on daily chart stands at 21650 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major world index upto 21550 – 21430 .

A good hurdle on daily chart stands at 21860 . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in this index upto 21980 – 22100 .

Wallstreet analysis conclusion : Dow jones trend is weak for now .

More will update to our trading signals subscribers .

 

By marafat