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. See our updated Privacy Policy here.



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
Please try again
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
More View more
Real Time News
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here:
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:
Gold Price 1Q 2021 Technical Forecast: The Correction May Be Over Soon

Gold Price 1Q 2021 Technical Forecast: The Correction May Be Over Soon

Paul Robinson, Strategist

Gold Price Technical Outlook:

  • Corrective period may soon be over
  • Bull-flag building around long-term support

Coming Soon! Download the NEW 1st Quarter Forecast Live on Monday on our Free Trading Guides Page!

The final three month frame of 2020 brought with it weakness, an outlook we had going into Q4. The general nature of the decline looked corrective within the context of a longer-term uptrend as buyers stepped in routinely and prevented the metal from selling off too aggressively.

It was interesting to see gold decline with the dollar, but the correlation between the two is far from perfect and from time-to-time the two will trade in tandem. However, the correlation is likely to revert back into negative territory at some point soon, and if the outlook for gold stands to be longer-term bullish then it may mean more dollar weakness lies ahead.

But leaving any USD outlook aside and looking at gold in its own technical vacuum, the three lower highs following the 2011 peak along with the 200-day (40-week) moving average look poised to keep a floor in to start 2021. The choppy downward price action last quarter brings in the possibility of a bull-flag.

If one does fully develop, then watch the upper parallel of the bull-flag, as a breaking of that line will be the technical trigger that confirms the pattern. Given it has been developing over the course of months, a move out of it could potentially be a big one, and likely begin before Q1 is over.

Gold Weekly Chart (holding 2011/12 levels, 40-wk MA)

Gold Price 1Q 2021 Technical Forecast: The Correction May Be Over Soon

Gold Daily Chart (Bull-flag developing)

Gold Price 1Q 2021 Technical Forecast: The Correction May Be Over Soon

Gold Price Charts by TradingView

---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.