US Stock Analysis

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Crude Oil
Previous Day Range High: 70.03 Low: 68.47 Close: 68.70
Technical Chart Resistance
R-2: 70.63
R-1: 69.66
S-1: 68.10
S-2: 67.51
Low: 68.10
Oil prices fell on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support. Crude futures came off one-month lows in early trading as U.S. stock markets bounced. But equities turned sharply lower in late morning trade, and the oil market fell to session lows. U.S. West Texas Intermediate crude ended Thursday’s session down $1.10, or 1.6 percent, at $68.65, after hitting a one-month low at $68.47 earlier in the session. WTI plunged 3 percent on Wednesday.
Previous Day Range High: 7309.50 Low: 7094.50 Close: 7139.25
Technical Chart Resistance
R-2: 7396.08
R-1: 7267.67
S-1: 7052.67
S-2: 6966.08
High: 7267.67                        Low: 7052.67
The Nasdaq Composite pulled back 2.1 percent to close at 7,485.14. Overseas, China’s Shanghai Composite dropped sharply.
Previous Day Range High: 25726 Low: 25217 Close: 25381
Technical Chart Resistance
R-2: 25950
R-1: 25666
S-1: 25157
S-2: 24932
High: 25666
Low: 25157
The Dow Jones Industrial Average dropped 327.23 points to 25,379.45, led by declines in Caterpillar.
Previous Day Range High: 2814.75 Low: 2756.50 Close: 2773.00
Technical Chart Resistance
R-2: 2839.67
R-1: 2806.33
S-1: 2748.08
S-2: 2723.17
High: 2806.33
Low: 2748.08
The S&P 500 fell 1.4 percent to 2,768.78 as the consumer discretionary and tech sectors lagged.
Previous Day Range High: 1230.10 Low:1218.50 Close: 1225.85
Technical Chart Resistance
R-2: 1236.42
R-1: 1231.13
S-1: 1219.53
S-2: 1213.22
High: 1231.13
Low : 1219.53
Gold edged higher on Thursday, supported by an improved technical outlook that helped the metal hold out against a stronger dollar. Spot gold rose 0.34 percent to $1,226.40 an ounce. U.S. gold futures settled at $1,230.10 per ounce, up $2.70. “Overall, we have been technically breaking above the previous highs, so it will be difficult for gold prices to move below that,” said ABN AMRO analyst Georgette Boele. Monday’s global stock market sell-off has added appeal to gold, helping the metal to a two-and-a-half-month peak of $1,233.26. Gold has also been testing resistance near the 100-day moving average, around $1,226, with some analysts saying a break above that level could trigger further gains and put pressure on short-sellers.

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