The Dollar Index is trading in tight range between 77.50 and 76.50 as a result the benchmark equity index of the Dow Industrials traded flat. Though 76.00 ranges are expected to again act important support in medium term; historic resistance in the Dollar Index is seen in the ranges of 79.50 to 80.20 to 81.30.
Key equity index of Dow Jones Industrials (DJIA) is expected to trade range bound between 11600 to 11200 ranges. Historic correlation between DJIA Vs DX suggests short-term top being posted in the USD and short-term bottom being posted in the Dow, though the major trend still remains range bound with the Dollar Index range bound
between 76.00 and 80.00.
In NYMEX December Crude is expected to trade range bound between $84.00 and $90.00 for couple of days.
Please see the attached chart below.
Please see the attached pdf file for the full report.
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