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Forex Trading Silver (XAGUSD) at Lower Trend Line. WTI Stalled at Support. NASDAQ Higher but Dow Jones Lower.


In today’s GCI Market Outlook, let’s take a look at Forex Trading on the Dow Jones Industrial Average, the NASDAQ, AUDNZD, WTI Crude Oil, and Silver (XAGUSD).

In our last video we looked at the big jumps in prices of metals.

We are now seeing a pullback but, in the case of silver, will we head back up again?

Price action broke this double top yesterday and has fallen to this lower trend line in a bull run that started 3 weeks ago.

The stochastic oscillator is oversold but don’t automatically go long again until we get some confirmation.

We are wondering if the bear run on WTI Crude Oil has come to an end with price action stalled at support at around $77.50.

On the daily chart, if we get a break to the downside, we have several key levels below.

We hope you were paying attention to the last video as we pointed out this short opportunity on AUDNZD.

Look what happened?

If price action continues to fall we have several key levels below.

Here we see daily charts for the Dow Jones Industrial Average and the NASDAQ.

One went down and one went up. Why?

The NASDAQ was bolstered by tech stocks like Nvidia while the DJIA was hit by bad results from J.P.Morgan Chase and the Fed speech last night.

So, we will watch our technicals and watch out for some good news about US equities in the future.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.

Forex Trading, Dow Jones Industrial Average, NASDAQ, AUDNZD, WTI Crude Oil, Silver, XAGUSD