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
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.87% Gold: 0.40% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9zzrCQMv2s
  • S&P 500 price is within striking distance of hitting all-time highs as stocks continue to rally. Get your market update from @RichDvorakFX here: https://t.co/pKvJ9wv9VY https://t.co/kkbBSDDVo8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in US 500 are at opposite extremes with 78.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Ycy6nhUEDm
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% US 500: -0.02% Wall Street: -0.07% France 40: -0.14% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6KHC1wW7Wo
  • Ugly numbers but (always a but with data), June monthly GDP +8.7% gives hope.... https://t.co/CYevGpL7g5
  • Fed's Daly: #Fed committed to making inflation goal of 2% - BBG
  • With the S&P 500 just topping its all-time record high and the 10YR Treasury yield up again now to 67-bps, yesterday's selloff in stocks looks more like it had to do with margin calls related to the sharp reversal in precious metals.
  • I know it came out a while back but wow, prelim UK GDP data for Q2 QoQ was -20.4%, and YoY was -21.7%.
  • New Zealand Dollar weakness has erupted after a dovish RBNZ rate decision. Get your $NZDUSD market update from @PeterHanksFX here: https://t.co/4FzlO7o6NV https://t.co/zV2Ih55baV
  • Fed's Daly: Evidence that fiscal stimulus is providing help to economy - BBG
Crude Oil, S&P 500 & Gold: Index & Commodity Charts

Crude Oil, S&P 500 & Gold: Index & Commodity Charts

2020-07-15 11:42:00
Paul Robinson, Strategist
Share:

Crude oil is up against the Saudi gap from March that eventually led to the front month contract turning negative. It is not surprising that this is acting as such a big level, but if the recovery in risk assets continues then it appears likely, barring negative geo-political headlines, that oil will trade on through. But even then the lows from 2017 and 2018 along with the 200-day lie ahead. A lot to deal with ahead. A break through, though, would likely send oil flying higher.

Oil Forecast
Oil Forecast
Recommended by Paul Robinson
Check out the recently released Q3 Oil forecast.
Get My Guide

Crude Oil Daily Chart (resistance is significant)

Crude oil daily chart

Crude Oil Chart by TradingView

The S&P 500 has been sluggish, but appears headed higher soon. The coronavirus gap from late February appears to to be begging to get filled. The gap is from 3257 up to 3337, with the record high not far beyond there at 3393. It seems the way stocks are flowing this will be the case.

S&P 500 Daily Chart (corona-gaps lie ahead)

S&P 500 daily chart

S&P 500 Chart by TradingView

Gold remains positioned bullishly with it working its way higher in near-term, but yet needs to cross well above 1800 to get beyond the triple peaks created in 2011/12 in the wake of the prior bull market high in 2011. Should we see some acceleration soon, then a run at the 1920 high could come soon. A break below 1790 will bring some caution to the near-term picture, while a break below 1756, the July 6 low, will bring in potential for an intermediate-term correction.

Gold Daily Chart (working higher around long-term resistance)

Gold daily chart

Gold Price Chart by TradingView

To see all the charts we looked at, check out the video above…

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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.