Sunday, 29 May 2016

Weekly Outlook for Dow 30 & Crude Oil Futures for 30th May to 03rd June

Dow 30

This week Dow went up 390.77 points over last weeks close and finally ended the week with a gain of around 372.28 points compared to last weekly closing 

Last week we had mentioned that Dow needs to break and sustain above 17560 to confirm uptrend and Dow needs to break and confirm below 17351 to confirm downtrend.  Dow made a high of 17891.71 and low of 17480.05 for the week. Those who would have taken the long trade would have got 260 points.


In the coming week Dow needs to break and sustain above 17986 to confirm uptrend and then one can expect a move till 18106 initially and breaking and sustaining above 18137 will give further confirmation for the next move which can take us till 18355. Similarly Dow needs to break and sustain below 17758 to confirm downtrend and then one can expect a move till 17637 initially and breaking and sustaining below 17606 will give further confirmation for the next move which can take us till 17389.


Dow Levels for the week are

Long above 17942 , Tgt  17986 - 18021 - 18056

IF Dow manages to get a close / sustain above 18106 then ,

long again for 18137 - 18241 - 18355

Short below 17801 , Tgt 17758 - 17722 - 17687

IF Dow manages to get a close / sustain below 17637 then, 

short again for 17606 - 17503 - 17389



CRUDE OIL FUT

This week Crude Oil Fut went up 2.46 points over last weeks close and finally ended the week with a gain of around 1.84 points compared to last weekly closing 

Last week we had mentioned that Crude Oil Fut needs to break and sustain above 49.19 to confirm uptrend and Crude Oil Fut needs to break and confirm below 47.70 to confirm downtrend.  Crude Oil Fut made a high of 50.21 and low of 47.40 for the week. 

In the coming week Crude needs to break and sustain above 49.76 to confirm uptrend and then one can expect a move till 50.21 initially and breaking and sustaining above 50.32 will give further confirmation of the next move which can take us till 51.14 . Similarly sustaining or closing below 48.90 can make Crude test lower levels till 48.45 initially and breaking and sustaining below 48.34 will give further confirmation of the next move which can take us down till 47.52 .

Crude Levels for the week are

Long above 49.59 , Tgt 49.76 - 49.89 - 50.02

IF Crude manages to get a close / sustain above 50.21 then 

long again for 50.32 - 50.71 - 51.14

Short below 49.06 , Tgt 48.90 - 48.77 - 48.64

IF Crude manages to get a close / sustain below 48.45 then 


short again for 48.34 - 47.95 - 47.52