US Stock Analysis
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| Crude Oil | |||
| Previous Day Range | High: 40.95 | Low: 39.90 | Close: 40.30 |
| Technical Chart | Resistance R-2: 41.43 R-1: 40.87 |
Support S-1: 39.82 S-2: 39.33 |
Forecast High: 40.87 Low: 39.82 |
| Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. West Texas Intermediate crude futures fell 1 cent, or 0.02%, to settle at $40.62 per barrel. “Oil prices are lower today on concerns that the surge in coronavirus cases in the U.S. will limit recovery in fuel demand,” RBC said. Sixteen U.S. states have reported record increases in new COVID-19 cases in the first five days of July, according to a Reuters tally. | |||
| NDI | |||
| Previous Day Range | High: 10694.50 | Low: 10505.75 |
Close: 10531.50 |
| Technical Chart | Resistance R-2: 10766.00 R-1: 10648.75 |
Support S-1: 10460.00 S-2: 10388.50 |
Forecast High: 10648.75 Low: 10460.00 |
| The Nasdaq Composite lost 0.86%, after notching its 27th intra-day all-time high of the year earlier in the session on Tuesday. The technology-heavy index was positive for most of the day thanks to strength in Apple, Microsoft, Facebook, and Netflix, which all hit record highs. | |||
| DJI | |||
| Previous Day Range | High: 26280 | Low: 25741 | Close: 25770 |
| Technical Chart | Resistance R-2: 26469 R-1: 26120 |
Support S-1: 25581 S-2: 25391 |
Forecast High: 26120 Low: 25581 |
| The Dow Jones Industrial Average fell 397 points, or 1.5%, breaking a two-day winning streak. The Dow was brought down by a 4.8% drop in Boeing. | |||
| SPI | |||
| Previous Day Range | High: 3184.00 | Low: 3132.50 | Close: 3136.50 |
| Technical Chart | Resistance R-2: .3202.50 R-1: 3169.50 |
Support S-1: 3118.00 S-2: 3099.50 |
Forecast High: 3169.50 Low: 3118.00 |
| The S&P 500 also registered a loss, slipping 1.1%, to break a five-day win streak. | |||
| Gold | |||
| Previous Day Range | High: 1797.50 | Low: 1773.40 | Close: 1795.30 |
| Technical Chart | Resistance R-2:1812.83 R-1:1804.07 |
Support S-1: 1779.97 S-2: 1764.63 |
Forecast High: 1804.07 Low: 1779.97 |
| Gold held firm near a more than eight-year high on Wednesday, as safe-haven demand was bolstered by worries over surging COVID-19 cases and hopes of more stimulus measures to combat the economic blow. Spot gold was steady at $1,793.56 per ounce by 0031 GMT after hitting its highest since November 2011. U.S. gold futures eased 0.2% to $1,806.30 per ounce. The U.S. coronavirus outbreak crossed a grim new milestone of over 3 million confirmed cases on Tuesday as more states reported record numbers of new infections, and Florida faced an impending shortage of intensive care unit hospital beds. | |||
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