0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • 🇷🇺 Inflation Rate YoY (JUL) Actual: 3.4% Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.04% France 40: -0.02% Germany 30: -0.07% FTSE 100: -0.09% US 500: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1YBsxDGpxy
  • RT @realDonaldTrump: Upon departing the Oval Office for Ohio, I’ve notified my staff to continue working on an Executive Order with respect…
  • Heads Up:🇷🇺 Inflation Rate YoY (JUL) due at 16:00 GMT (15min) Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Japanese #Yen Outlook: $USDJPY Rebounds Off Support- Recovery Levels - https://t.co/3Q9KuieaSE https://t.co/iMyJx8fBwL
  • House Speaker Pelosi says "we have to think big" regarding stimulus $DXY $SPX
  • Hey traders! Get your Thursday market highlighs from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/com5RRIcDN
  • The @bankofengland left all policy measures unchanged today, in line with market expectations, and warned that Q2 GDP is likely to be over 20% lower than Q4 2019. Get your $GBPUSD market update from @nickcawley1 here:https://t.co/2VW5eo6n4e https://t.co/b5JDaKwSy9
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.17% 🇦🇺AUD: 0.05% 🇯🇵JPY: 0.01% 🇪🇺EUR: -0.32% 🇨🇦CAD: -0.38% 🇨🇭CHF: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/REQGchSDuu
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.11% US 500: -0.21% Germany 30: -0.43% France 40: -0.87% FTSE 100: -1.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TBhojLnpbO
Crude Oil Prices May Validate Bearish Chart Cues on Growth Fears

Crude Oil Prices May Validate Bearish Chart Cues on Growth Fears

2019-03-25 03:30:00
Ilya Spivak, Head Strategist, APAC
Share:

CRUDE OIL & GOLD TALKING POINTS:

Sentiment-sensitive crude oil prices fell alongside stocks on Friday as disappointing PMI data fueled global slowdown fears and stocked risk aversion, as expected. Gold prices managed a tepid rise as bond yields fell, boosting the relative appeal of non-interest-bearing assets. Upside progression was capped as haven-seeking flows buoyed the US Dollar however.

CRUDE OIL PRICES MAY FALL AMID RISK AVERSION

Looking ahead, a muted offering on the economic data docket seems likely to keep the trajectory of broad-based risk appetite as the main driver for price action. Bellwether S&P 500 futures are tellingly pointing lower, suggesting Friday’s risk-off tilt is likely to remain in place. That bodes ill for oil prices. Meanwhile, gold will probably continue to weigh competing influences from bond yields and the Greenback.

Learn what other traders’ gold buy/sell decisions say about the price trend!

GOLD TECHNICAL ANALYSIS

Gold prices still look to be carving out a somewhat choppy Head and Shoulders top, but confirmation remains absent. Completing the pattern would require a reversal back below the 1303.70-09.12 area, followed by a breach of neckline support at 1282.05. Alternatively, a move above near-term resistance at 1326.30 sets the stage for a retest of the February top at 1346.75.

Gold price chart - daily

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices may be signaling a top with the formation of a bearish Evening Star candlestick pattern. A daily close below initial support in the 57.24-88 area would confirm the setup, initially exposing the 55.37-75 zone next. Alternatively, a push above resistance marked by the 38.2% Fibonacci expansion at 60.45targets the 50% level at 62.28.

Crude oil price chart - daily

COMMODITY TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.