According to margin zones, gold and silver are traded with opposite priorities
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
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
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.
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Price chart of XAUUSD in real time mode
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