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
EUR/USD
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • #SP500 teetering on frequently-tested support at 3282.3. See my full take in my daily election and market update at 23:00 GMT. https://t.co/aRlCRLosqw
  • Vote on House Stopgap funding bill expected this Tuesday according to aide - BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.00% Gold: -2.17% Silver: -8.68% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5abU7hof5c
  • Poll: Many are weighing their market convictions today, so it is worth running a poll. Do you think the break lower today from the S&P 500, global indices, emg markets, carry and other 'risk' assets is the start of a lasting bear wave (ie a weeks long and -10%-plus rout)?
  • #Gold technical support zone discussed in today's webinar catching the lows. . . $XAUUSD - https://t.co/4s1mlKp2rr https://t.co/vZYjrSVNJZ
  • RT @USCBO: By the end of 2020, federal debt held by the public is projected to equal 98% of GDP. The projected budget deficits would boost…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.33%, while traders in NZD/USD are at opposite extremes with 66.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6wPYEEd6ni
  • US Dollar drives higher as market sentiment and liquidity conditions deteriorate further. Get your $USD market update from @RichDvorakFX here: https://t.co/5ldnNrMj7e https://t.co/GWtgHwH71m
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: France 40: 0.69% Germany 30: 0.66% FTSE 100: 0.49% US 500: -2.09% Wall Street: -2.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YVW1rqCX8O
  • #Gold fell roughly -2.5% Monday morning as markets awoke to a surge in volatility. Get your $XAUUSD market update from @PeterHanksFX here: https://t.co/RR62qDzpnu https://t.co/zkUfxyuDTM
Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

2019-06-26 11:30:00
Paul Robinson, Strategist
Share:

Stock markets have been weakening a bit lately, healthy pullback or the beginning of something more invasive? May find out soon. Dow Jones and DAX in focus. Gold price finally found a level where sellers were able to take control, the precious metal is due for a pullback; silver may be a decent short. Crude oil is holding firm but may be about to pull back.

Technical Highlights:

  • Dow Jones, DAX pullbacks to be bought?
  • Gold price due to rest after big run
  • Crude oil may pull back soon

Make more informed decisions by checking out our trading forecasts and educational resources on the DailyFX Trading Guides page.

Dow Jones, DAX pullbacks to be bought?

The Dow is pulling back from resistance, but will the decline grow legs or be reduced here shortly to only a pullback. If the general tone of the market lately is any indication, then don’t count on stocks rolling over just yet. For now, though, standing neutral on U.S. indices.

Dow Jones Daily Chart (pullback or double-top?)

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

The DAX has a very nice-looking chart right now, especially the hourly. We looked at the set-up in yesterday’s DAX/CAC commentary, but since then we are seeing solid push off support via a rising channel line and June 11 swing-high. Additionally, a bull-flag was just trigged. As long as the day low 12189 is not broken looking for a move up to at least the recent swing high around 12438.

DAX Daily Chart (trading inside channel)

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

DAX Hourly Chart (held support, broke bull-flag)

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

Gold price due to rest after big run

Gold finally find a price where selling interest picked up, it arrived around an old level from 2013. The semi-bearish reversal candle yesterday is leading to weakness today, and going forward it appears sideways to down will be the bias until overbought conditions can be worked off. A break above yesterday’s high of 1439 will still be vulnerable to a set-back until the market has had time to digest the recent run. Big-picture gold is set up for higher prices, it just might take some time before it does so.

Gold Price Daily Chart (reversal to start correction)

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

Crude oil may pull back soon

Crude oil is rallying into a thicket of price, t-line, and 200-day MA resistance, which could soon prove problematic. However, not confident it will lead to a substantial decline as trend determination is still lacking from where I sit. Existing longs may want to monitor price action for signs of a sharp reversal to manage P&L while would-be shorts could use a turn down in momentum as an opportunity to place bearish wagers.

Crude Oil Daily Chart (price, t-line, 200-day)

Dow Jones, DAX, Gold Price, Crude Oil Technical Outlook & More

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, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---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.

DISCLOSURES