Technical Take for Gold Price, Crude Oil, DAX, S&P 500, and More

Gold is a market we continue to watch but avoid getting involved with; this will remain the case until it moves outside of the choppy environment dominating trade. Crude oil reversed off long-term resistance last week and could now be working on posting a lower high since then. The DAX had a powerful reversal yesterday from around support, while the SP 500 reversed on Monday from its own levels of support; tilts near-term higher for these indices.

Technical Highlights:

  • Gold price stuck in a range, need to be patient
  • Crude oil turned off long-term resistance, has focus shifted lower
  • DAX SP 500 looking to make good on reversals from support

See how the majority of traders are positioned in various markets/currencies and what it says about future price fluctuations – IG Client Sentiment

Gold price stuck in a range, need to be patient

Gold continues to be a difficult proposition with it having had little to no direction since August. This doesn’t mean we can fall asleep, but pressing it on either side of the tape at this time appears to be nothing more than speculation without a solid edge. Watch 1180 on the

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/10/10/Technical-Take-for-Gold-Price-Crude-Oil-DAX-SP-500-and-More-PRtech.html