Crude oil analysis
Crude oil price trading at 47.70$ . Its trading in a small range since yesterday . A good support on daily chart stands at 47$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this black gold prices upto 46.40$ – 45.80$ .
A good resistance on daily chart stands at 48.40$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some good recovery upto 49$ – 49.90$ today .
Crude oil analysis conclusion : Oil trend is flat to positive for now , we have inventory today . Avoid any big trade around inventory .
Wallstreet analysis
DJIA trading at 21880 , yesterday it tested 21900 as it fired from 21700 and gave good recovery after a bloodbath last week . A good base level on daily chart stands at 21780 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in dow jones upto 21650 – 21500 .
A good hurdle on daily chart stands at 22020 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major index upto 22150 – 22280 .
Wallstreet analysis conclusion : Dow jones trend is still positive , avoid any major sell trade .
More will update to our trading signals subscribers .