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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.05%, while traders in US 500 are at opposite extremes with 76.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bOIQPXZFko
  • Heads Up:🇲🇽 Industrial Production YoY (JUN) due at 11:00 GMT (15min) Expected: -17.8% Previous: -30.7% https://www.dailyfx.com/economic-calendar#2020-08-11
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-11
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/Lj9V09Gtnu
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.56% Gold: -1.98% Silver: -3.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bwxZBdzT9z
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.51% 🇦🇺AUD: 0.45% 🇨🇦CAD: 0.44% 🇳🇿NZD: 0.25% 🇬🇧GBP: 0.23% 🇯🇵JPY: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/X79P6EsMnj
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.74% France 40: 2.73% FTSE 100: 2.28% Wall Street: 0.91% US 500: 0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SvvEG07UEc
  • NZ PM says Auckland will move to level 3 restrictions for 3 days $NZD
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/dnwQT6AhKF
  • Heads Up:🇿🇦 Unemployment Rate (Q2) due at 09:30 GMT (15min) Previous: 30.1% https://www.dailyfx.com/economic-calendar#2020-08-11
Crude Oil Price - Next Move Will be Driven by US-China Trade Outcome

Crude Oil Price - Next Move Will be Driven by US-China Trade Outcome

2019-03-20 08:43:00
Nick Cawley, Strategist

Oil Price Analysis and News

  • Oil needs help in finding its short-term direction.
  • US-China trade talks may make news next week.

DailyFX Crude Oil Landing Page – Prices, Charts, Analysis and Real-Time News

Oil has wavered around its four-month high over the last three weeks with further upside now looking unlikely in the current economic and political climate. Global economic growth fears continue with downgrades becoming commonplace, leaving central bankers unable to tighten monetary policy as had been expected last year. The lack of growth will continue to weigh on the price of crude oil, despite the OPEC+ production cuts, leaving it vulnerable to further trade war fears.

The US-China trade war continues but progress may be on the cards with US President Donald Trump tweeting Tuesday that talks with China are going ‘very well’, while US Trade Representative Lighthizer and Treasury Secretary Mnunchin are expected to travel to China next week to help push trade talks forward. A successful trade deal between the world’s two largest economies would help ease global growth fears and likely push the price of oil higher.

A look at the charts shows how Brent has stalled in recent days near the November high with a recent double-top just over $68.00/bbl. Resistance starts at the 200-day moving average around $68.85/bbl. followed by 38.2% Fibonacci retracement at $70.56/bbl. Reasonable support should be seen at the 50% Fibonacci retracement level at $65.60/bbl.

How to Trade Oil: Crude Oil Trading Strategies and Tips.

Brent Crude Oil Chart Daily Time Frame (May 2018 – March 20, 2019)

Crude Oil Price - Next Move Will be Driven by US-China Trade Outcome

WTI vs Brent: Top 5 Differences Between WTI and Brent Crude Oil.

IG Client Sentiment shows that retail traders are 49.3% net-long of US Crude, a bullish contrarian indicator. However, recent daily and weekly positional changes suggest a mixed oil – US Crude trading bias.

--- Written by Nick Cawley, Market Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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


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.