US Stock Analysis
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| Crude Oil | |||
| Previous Day Range | High: 51.87 | Low: 49.06 | Close: 49.14 |
| Technical Chart | Resistance R-2: 52.83 R-1: 50.99 |
Support S-1: 48.18 S-2: 47.21 |
Forecast High:50.99 Low: 48.18 |
| Oil prices fell to a 14-month low on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over the prospects for global economic growth and fuel demand. U.S. light crude ended Monday’s session down $1.32, or 2.6 percent, to $49.88, settling below $50 for the first time since October 2017. The contract fell 4 percent towards $49 a barrel after the settlement, hitting the lowest level on an intraday basis since Sep. 13, 2017. | |||
| NDI | |||
| Previous Day Range | High: 6635.25 | Low: 6401.25 | Close: 6465.00 |
| Technical Chart | Resistance R-2: 6734.50 R-1: 6599.75 |
Support S-1: 6365.75 S-2: 6266.50 |
Forecast High: 6599.75 Low: 6365.75 |
| The tech-heavy Nasdaq Composite dropped 2.2 percent to finish the day at 6,753.73 as Microsoft dropped 2.9 percent. The Russell 2000 which tracks the performance of smaller companies entered a bear market, down 20 percent from its 52-week high. | |||
| DJI | |||
| Previous Day Range | High: 24226 | Low: 23462 | Close: 23672 |
| Technical Chart | Resistance R-2: 24551 R-1: 24111 |
Support S-1: 23347 S-2: 23023 |
Forecast High: 24111 Low: 23347 |
| The Dow Jones Industrial Average lost 507.53 points to close at 23,592.98, bringing its two-day losses to more than 1,000 points. Shares of Amazon and Goldman Sachs led the declines. | |||
| SPI | |||
| Previous Day Range | High: 2613.75 | Low: 2530.50 | Close: 2552.00 |
| Technical Chart | Resistance R-2: 2648.67 R-1: 2600.33 |
Support S-1: 2517.08 S-2: 2482.17 |
Forecast High: 2600.33 Low: 2517.08 |
| The S&P 500 fell as much as 2.5 percent to 2,530.54, surpassing its February intraday low of 2,532.69. The broad market index finished the session down 2 percent at 2,545.94, its lowest close for the year. | |||
| Gold | |||
| Previous Day Range | High: 1248.10 | Low: 1235.50 | Close: 1245.75 |
| Technical Chart | Resistance R-2: 1255.72 R-1: 1250.73 |
Support S-1: 1238.13 S-2: 1230.52 |
Forecast High: 1250.73 Low : 1238.13 |
| Gold rose on Monday as a slide in the dollar made bullion more attractive for holders of other currencies, while some investors took cover as stocks globally slipped into the red ahead of the U.S. Federal Reserve’s two-day policy meeting. Spot gold was up 0.64 percent at $1,246.06 per ounce by 1:53 p.m. ET. U.S. gold futures settled $10.40 higher at $1,251.80 per ounce. | |||
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