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.



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
Wall Street
More View more
Real Time News
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
Technical Outlook for DAX, FTSE, Gold Price, Crude Oil & More

Technical Outlook for DAX, FTSE, Gold Price, Crude Oil & More

Paul Robinson, Strategist

Poor technical posturing inEuropean equity indices, especially the FTSE, suggests lower prices ahead. U.S. markets stronger, but looking more and more precarious by the day. Gold price action uninspiring but holding support, while crude oil attempting to break out of a wedge.

Technical Highlights:

  • DAX & FTSE setting up for lower prices
  • Gold price action is weak, but still holding support
  • Crude oil working on a wedge breakout

Check out the DailyFX Top Trading Opportunities for 2018 on the DailyFX Trading Guides page.

DAX & FTSE setting up for lower prices

European indices are beginning to look increasingly bearish, with the DAX trading in a bearish channel. A lower-high from February could in place as of March 12. Maintaining below 12460 keeps the bearish price sequence intact. Support levels to watch start arriving at 12162 down to the early-month low aat 11831.

DAX Daily Chart (Bearish channel)

dax daily chart with bearish channel

The FTSE is one of the weakest links in the global spectrum, with it having already made another lower-low and trading at its worst levels since December 2016. It sits below the 7100-area at the moment and may not be capable of sustaining a bounce from here. Even if it does, the descending wedge it is in suggests lower prices ahead. Looking to around 6900/700 on another leg lower.

See how current positioning in various markets/FX pairs could signal their next moves on the IG Client Sentiment page.

FTSE Daily Chart (Very weak price action)

ftse daily chart, very weak price action

*We also looked at the S&P 500, Dow Jones, Nasdaq 100, and CAC.

Gold price action is weak, but still holding support

Gold price action continues to be very choppy, but the chart is stilling tilting lower below the 2013 trend-line. A descending wedge is coming into view with support on the wedge near 1300. A clean break below 1300 should have the precious metal rolling downhill. It will require a break higher and weekly closing capture of the 2013 trend-line to turn the picture bullish.

Gold Daily Chart (Weak, but holding support)

gold daily chart, weak but holding support

Crude oil working on a wedge breakout

Crude oil has been coiling up into a wedge since January, using the important July slope as the underside of the pattern. Today, it is trying to sneak out above, but needs to pick up a bit more momentum to consider it a break bringing 64-66+ into play.

If WTI makes a head-fake higher and then back lower, keep a close eye on the July slope. This slope has been in play on numerous occasions and is viewed as the ‘line-in-the-sand’ for the market.

WTI Crude Oil Daily Chart (Trying to break out of wedge)

crude oil daily chart, wedge with important july slope

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, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email – SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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