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.

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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Traders in the Euro have a big decision to make this weekend: if EUR/USD hits 1.20, will it continue to advance, consolidate or fall back? Get your $EURUSD market update from @MartinSEssex here:https://t.co/8hAhguZcEA https://t.co/kwtatozp3z
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here: https://t.co/Yg6ecRZZNr https://t.co/9SdceNYUEK
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/imv2PnapzH
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:https://t.co/TMcbMALtbw https://t.co/mmldxxEtsc
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:https://t.co/Txo8l8S1f1 https://t.co/YLVzP95JH8
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here: https://t.co/qxnP99uqTQ https://t.co/tGVqSZ2zK3
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/reMoYpqkQO
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/sqeRL7Rf7u
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here: https://t.co/h7BKTd2J8N https://t.co/ukOW0dWJxf
  • Beautifully put. https://t.co/0fBsmUH6Pb
Technical Forecast for Gold, Silver Prices & Equity Indices

Technical Forecast for Gold, Silver Prices & Equity Indices

2017-09-19 11:30:00
Paul Robinson, Strategist
Share:

Enjoy the video? Join Paul Tuesday-Friday each week – for details, see the Webinar Calendar.

Precious metals are in a precarious position after both gold and silver dropped through the lower parallel of a bullish channel extending back to the July low. Gold has room to move lower before a test of substantial support takes place around 1296, while silver is currently sitting on solid support in the low-17s. The futures market shows large speculators having snatched up contracts at a rapid pace in recent weeks, which is viewed as a headwind for the metals moving forward. Even if we see a bounce it may not be sustainable until we see further weakness or a time correction unfold.

The recent decline in copper brings it back to an area of support that started as far back as the spring of 2015, but isn’t showing much life after trading slightly below a trend-line rising up since June. On a break below 2.93 the next level of support we’ll look to is 2.87.

Check out this new trading guideBuilding Confidence in Trading.

Crude oil continues to be a challenge, and for the most part a market on the ‘stay away’ list. It still has potential to be putting in a long-term rounding top, but recent price action suggests it still may want to trade higher to a major level of resistance around 51.50.

U.S. indices continue to look solid, with the 2515/25 area as the spot we’re looking for the S&P 500 to trade up to soon. The Nasdaq is building a triangle after not long ago breaking out of a bull-flag; ~6100 is the next eyed level where a top-side trend-line lies from June. The DAX & CAC recently crossed above major thresholds and continue to look poised for higher prices. The FTSE 100, on the other hand, broke through the important 7300-level last week and is on the ‘sell’ list on a retest of old support. The Nikkei 225 is finally getting into gear with a big showing last night of nearly 2%. A clean close above the year high in June opens up a path towards the 2015 high just shy of 21k.

For full technical considerations, please see the video above…

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES