Daily Weekly Review October 9th. Oil and Dax

News Source : CNBC

October 9th 2019

Watch “Daily Weekly Market Review October 9th 2019” on YouTube

I bought Oil and Dax last night during their fall and Why.

I close out small profit today.

Today Stocks in Asia mixed amid US-China trade uncertainty , European stocks turn positive as investors react to trade news and dovish Fed comments , Dow futures jump 200 points on a report China is open to a partial US trade deal and Oil prices dip for 3rd day as US-China trade doubts grow .

The big turn in this market this year was the resumption of the trade war (between the U.S. and China) and as long as we have these trade war fears hanging over this market, OPEC can do what they can in terms of production cuts but the question is: Can you move this market higher?”

The weekly oil chart shows negativity. Last week close posted and short bear inverted. That is to say that oil will fall a little and make correction.

Support line is at 51.43 and the buying spot is 52.87 or lower.

I make a long at 52.35 and suppose to close at 54.53 but my account was set auto and got out at 52.87/.

The oil will probably correct up between 54.35 and 55.86 before another plunge.

About the index on DAX. If this move she will probably heading for 12,187 and 12292 before deciding the trend. It could be choppy week.

And be cautious because the market is still looking negative, which might turn bear on Friday.

Thank you

Sangoh Tan




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