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.

Free Trading Guides Download
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
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
Gold
Bearish
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
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.05%, while traders in USD/CAD are at opposite extremes with 68.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/3gSaJJnsPg
  • U.S. Vice President Mike Pence: Risk of spread of the coronavirus in the country remains low -BBG
  • Here is some more perspective: 2018 United States population = 327.2m (via U.S. Census Bureau) #coronavirus https://t.co/gzWCmasWCT
  • China's 290m rural workers' employment hit by the #coronavirus, says Human Resources Vice Minister You Jun -BBG
  • The $NZD may bounce after hitting a four-month low against its US counterpart, but overall positioning continues to argue for a bearish bias. Get your NZD market update from @IlyaSpivak here:https://t.co/pip5LuUUJW https://t.co/Js98E1kqCO
  • My majors-based Australian Dollar index and New Zealand Dollar index (pro-risk FX) are on the verge of technical downside breakouts that expose their weakest points since 2016 and 2015 respectively. #AUD has positive RSI divergence though. Am closely watching 👀 $AUDUSD $NZDUSD https://t.co/HXqrl6jheN
  • Risk aversion extends into Friday's Asia Pacific trading session as Nikkei 225 and S&P 500 futures aim lower after overall South Korean #coronavirus cases exceeded 2k. Anti-risk #Yen higher, #USD too. Pro-risk Australian Dollar aiming lower $AUDJPY - https://t.co/JwCufAQCma https://t.co/HVmWJJcYI8
  • The $USD faces key technical tests against the Singapore Dollar and Indonesian Rupiah after gains on #coronavirus fears. What is the technical road ahead for USD/SGD and USD/IDR? Find out from @ddubrovskyFX here: https://t.co/gDsab6fvw1 https://t.co/8mcwr3YU0U
  • China's Shanghai Composite opens lower 2.23% -BBG
  • GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Feb 19, 2020 15:00 GMT when GBP/JPY traded near 143.72. A contrarian view of crowd sentiment points to GBP/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/2lo1ecQr4y
Crude Crawls Higher as Longer Term Channel Resistance Fails

Crude Crawls Higher as Longer Term Channel Resistance Fails

2011-10-19 14:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_oil_body_crude.png, Crude Crawls Higher as Longer Term Channel Resistance Fails

Prepared by Jamie Saettele, CMT

Crude has broken above the resistance line that defines the trend from the May high. There are several patterns that could be forming since the August low but the best description of the market since then is range within a larger downtrend. The break above the long term channel hints that the downtrend may be complete however. Bulls are in control as long as price is above yesterday’s low of 8557. The next upside levels of interest are 9051 and 9353.

Trend Strength (M,W,D) – (1), 0, 1

Latest Video

Weekly Forecast

COT

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

DISCLOSURES

News & Analysis at your fingertips.