US Stock Analysis

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Crude Oil
Previous Day Range High: 63.44 Low: 60.38 Close: 62.87
Technical Chart Resistance
R-2: 65.29
R-1: 64.08
Support
S-1: 61.02
S-2: 59.17
Forecast
High: 64.08
Low: 61.02
Oil prices rose on Wednesday, after the OPEC monthly report, on global demand growth hopes, and after a more-than-expected drop in the US crude inventories. OPEC stated yesterday that global demand for oil will grow by 6 million barrels per day to 96.5 million bpd during this year, which is higher by about 100K bpd from its previous estimates. WTI crude May futures jumped 5.15% to $63.2 a barrel, after hitting a high of $63.4 and a low of $60.3.
NDI
Previous Day Range High: 14029.00 Low: 13772.75

Close: 13823.75

Technical Chart Resistance
R-2: 14131.42
R-1: 13977.58

Support
S-1: 13721.33
S-2: 13618.92

Forecast
High: 13977.58
Low: 13721.33

Nasdaq fell 1% or 138 points to 13,857, with a high of 14,033 and a low of 13,839 points.
DJI
Previous Day Range High: 33800 Low: 33519 Close: 33654
Technical Chart Resistance
R-2: 33939
R-1: 33796
Support
S-1: 33515                                            S-2: 33377
Forecast
High: 33796
Low: 33515
Dow Jones rose 0.1% or 53 points, and closed at 33,730, with a day high of 33,911, and a low of 33,668.
SPI
Previous Day Range High: 4144.00 Low: 4113.00 Close: 4122.75
Technical Chart Resistance
R-2: .4157.58
 R-1:  4140.17
Support
S-1: 4109.17                                        S-2: 4095.58
Forecast
High: 4140.17                                 Low: 4109.17
S&P 500 fell 0.4% or 17 points to 4,124, after hitting a high of 4,151 and a low of 4,120.
Gold
Previous Day Range High: 1749.40

Low: 1732.00

Close: 1736.80
Technical Chart Resistance
 R-2: 1756.80                                       R-1: 1746.80
Support
S-1: 1729.40
S-2: 1722.00
Forecast
High: 1746.80                                  Low: 1729.40
Gold prices fell on Wednesday, despite the US dollar’s drop against most its major peers and pressure on stock markets. Gold June futures fell 0.7% or $11.30, and closed at $1,736.30 an ounce, after hitting a day high at $1,750.7 and the low at $1,732.3.

 

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