Crude oil analysis
US crude oil price trading at 48.60$ . Its trading slightly lower since morning . A good base level on daily chart stands at 48$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 47.20$ – 46.50$ today .
A good resistance today on daily chart stands at 49.20$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this black gold upto 50$ – 50.70$ .
Crude oil analysis conclusion : Trend is in favor of buyers for now , avoid any major selling .
DJIA analysis
Last week dow jones crashed badly and closed nearly at lowest point of the week . Currently wall street trading at 21675 , again trading lower . A good base level on daily chart stands at 21550 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major index upto 21440 – 21330 .
A good hurdle on daily chart stands at 21800 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in dow jones upto 21920 – 22050 .
DJIA analysis conclusion : Wallstreet trend is weak for now , avoid any buy trade .
More will update to our trading signals subscribers .