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.

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
Subscribe
Please try again
Oil - US Crude
Bullish
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
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.15% 🇯🇵JPY: -0.18% 🇬🇧GBP: -0.39% 🇳🇿NZD: -0.56% 🇦🇺AUD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/a8XYJHybtN
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: -0.05% Oil - US Crude: -0.25% Gold: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/C66zBofenc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 71.64%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6QmJTzlrho
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/8PhqKCpyzf
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.03% France 40: 0.03% US 500: 0.02% FTSE 100: -0.06% Germany 30: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Mkxtacawl4
  • AUD declined into the weekend, wiping out earlier gains against USD #IronOre tumbled this week, with futures on #SGX down about 15%! -> 3-month low China is further cracking down on steel output to ebb pollution Iron ore is a key AU export to China, posing a risk #AUD $AUDUSD https://t.co/NSDM7Ln5sA
  • Further your forex knowledge and gain informed analyses from industry leaders with our free guides, available today. Download the Q3 guide:https://t.co/7G7pWntiyY https://t.co/gAlFxO9Fl4
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Silver: -0.53% Gold: -0.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qTX1rsmxSM
  • Mexico’s second quarter GDP grows 1.5% q/q and 19.7% y/y, slightly below market expectations. Get your $USDMXN market update from @DColmanFX here:https://t.co/s3i0GDWXpr https://t.co/CD7aQhOG19
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.66%, while traders in France 40 are at opposite extremes with 71.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rfrl2bsz9S
FTSE 100 Technical Analysis: Potential for Retest of Spike Low

FTSE 100 Technical Analysis: Potential for Retest of Spike Low

Paul Robinson, Strategist

What's inside:

  • A little time needed to identify new levels and trading opportunities in the short-term
  • Retest of panic low a potential scenario
  • Big picture outlook still points to lower prices not only in the FTSE, but global stock markets as a whole

The initial reaction to the vote outcome on Friday was quite strong as the FTSE 100 traded lower by as much as 8% in the very early part of the session, but proved to be an overreaction as the UK index ended up taking back more than half of those losses to close out the day lower by a little over 3%. Financial and housing stocks took the brunt of the punishment, finishing down with double-digit negative returns. The British Pound failed to muster much of a recovery, ending the day down a substantial 8%. To start off the week, continued selling pressure is hitting GBP/USD (-2.4%), while the FTSE is currently off by about 1.3%.

The first thought which comes to mind is the FTSE is likely to try and make a run on those Friday spike lows at 5727 at some point in the days/weeks ahead, and whether it immediately clears through towards the February lows, or holds for a rebound will depend on how it reacts upon such a retest should it get to that point.

Broadly speaking, global stock markets look headed for a period of risk aversion or choppy side-ways price action at best, as trends which began off the 2015 peaks look to reassert themselves towards new lower lows on the weekly/monthly time-frames.

FTSE (UK100) Daily

FTSE 100 Technical Analysis: Potential for Retest of Spike Low

Finding a clear trade in here for a few days might be difficult as we need to see how the market will digest Friday’s outcome, and with that in mind we will exhibit patience in finding a good risk/reward opportunity. New price levels to work with will evolve in the days ahead, and once they better present themselves we can better assess how to approach the market.

Watch trader positioning in real-time via the ‘Speculative Sentiment Index’.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX, and/or email him at instructor@dailyfx.com.

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

DISCLOSURES