According to margin zones, gold and silver are traded with opposite priorities

WTI

Oil is traded in a medium-term downtrend. Last week, there was a test, and a retest of the zone is not excluded. A rollback of current prices cannot be excluded either. For more detailed analysis, let’s examine a short-term trend.

Yesterday, there was a powerful exit beyond the limits of Intermediary Zone [68.21 – 68.03], but the closure was inside the zone. It says that the resistance is holding out and the prospects of selling continue. For selling, we need a pattern.

For buying, wait for a closure above 68.21. If it happens, a buying target will be the upper Target Zone [70.10 – 69.76].

 

WTI  Trading decisions for today:  

Sell according to the pattern from Intermediary Zone [68.21 – 68.03]. TakeProfit: Target Zone [66.46 – 66.11]. StopLoss: According to pattern rules


XAUUSD

Gold is testing a strong medium-term resistance - Target Zone 5 [1210.2 – 1207.1]. Selling at current prices isn’t profitable. For position sales, I recommend waiting till the key resistance at [1238.6 – 1235.5] is tested and then searching for a respective signal.

Following the test of Intermediary Zone [1221.6 – 1220.0], new large sales took place, and, as a result, the quotes fell.   I recommend that those who’ve been selling XAUUSD close most positions and move the rest to a breakeven level.  Those with no trades opened should wait.

In case the price grows again up to IZ, I wouldn’t recommend selling without a pattern. In case of a breakout and consolidation above the zone, the trend will change into an uptrend.

 

XAUUSD Trading decisions for today: 

Sell according to the pattern from Intermediary Zone [1221.6 – 1220.0]. TakeProfit: Target Zone [1204.2 – 1201.1]. StopLoss: According to pattern rules


XAGUSD

A medium-term accumulation zone is forming for silver between Target Zone 3 [15.11 – 15.03] and Resistance [15.92 – 15.85]. If the price grows and reaches the resistance level, I recommend looking for a pattern to sell.

The situation hasn’t changed on a shorter timeframe: “Buy” priority with a target in the Target Zone [15.92 – 15.85]. The trend will remain ascending as long as the trend key resistance at  [15.26 – 15.22] holds out.

As a result, we should be buying from the zone according to the pattern, as I wrote in the previous analysis. If the price grows, I recommend placing the first Take Profit at 15.61.

The buying scenario should be cancelled in case of a breakout and consolidation below IZ. If it happens, we should sell silver on the following trading day.

 

XAGUSD Trading decisions for today:  

Hold long positions from Intermediary Zone [15.26 – 15.22]. TakeProfit: 15.61, Target Zone [15.92 – 15.85]. StopLoss: 15.19.

IZ - Intermediary Zone - Reflects changes in priority directions of price movements 

TZ - Target Zone - The zone which will be reached with a 75% chance once IZ has been broken out. 

GZ - Gold Zone - The zone in a medium-term impetus 

All the zones are calculated based on a daily average movement and margin requirements of the futures market.


Did you like the article? Share it in social networks: it will be the best “thank you” :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations concerning trading methods..

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Telegram channel with excellent analysis, forex surveys, educational articles and other tools for traders: http://t.me/liteforex

 

Price chart of XAUUSD in real time mode

Analysis for oil, gold, and silver for 07.08.2018

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Need to ask the author a question? Please, use the Comments section below. .
Start Trading
Follow us in social networks!
Live Chat
Leave feedback