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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 15/12/2022

DJ30

The DJ30 manages to move 5551 points since October, a slight loss of momentum observed by the RSI indicator and the price starts to struggle to break the 34249.76 resistance. This is also confirmed by the EMA which has lost its trend and is going sideways.

Now, with this data we may see a drop around the 31009.62 level.

If the price fails to drop and break above this strong resistance, we may see upside moves.


USOIL

USOIL has been in a downward trend for the past 2 months. The price now seems to have correction and may go up to the trend line.

If the price finds resistance near the trendline, we may see a decline to around 70.27 level.

If the price breaks above the trend line, we may see a move around 83.25 again.


SPX

The SPX manages to move 600 points since October, the price has now found resistance in the 4118 area.

Now we may see the price hovering around the 4101.75 and 3913.71 levels for a while.

If the price breaks below 3913.71, we may see a decline to around 3696.24.

If the price fails to drop and break above this strong resistance, we may see upside moves.



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