WTI

Oil price is rising in the uptrend. The nearest upward target is last week’s high. If buyers consolidate above 74.05, the next target will be Target Zone 5 [77.01 – 76.72].

Yesterday, the price was trading above Intermediary Zone [72.29 – 72.14], and the US session confirmed the key resistance breakout. Therefore, the local trend reversed upwards and now the buy target is Target Zone [73.91 – 73.61].

Today, I recommend looking for buys during the correction. Look for the patterns in Additional Zone [72.36 – 72.29] or in IZ [71.62 – 71.47].

Today's trading tips for WTI:

  1. Buy according to the pattern in Additional Zone [72.36 – 72.29]. TakeProfit: Target Zone [73.91 – 73.61]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [729 – 72.14]. TakeProfit: Target Zone [73.91 – 73.61]. StopLoss: according to the pattern rules.

XAUUSD

Gold price is being corrected to the middle-term downtrend. The correction possible target is the test of the key resistance Target Zone [1272.0 – 1269.0]. After the resistance is reached, we will analyze the response and, first of all, look for sells.

The local short-term trend is upward. Buy target in the shorter timeframe is Target Zone [1272.0 – 1269.0].

Now the quotes are trading in the zones of good buy prices, so, I recommend to those, who hasn’t entered yet, look for the trading signal and buy the instrument.

The second zone to look for long trades is Intermediary Zone [1250.4 – 1248.9]. If traders drive the price down to these levels, we will look for a pattern.

Today's trading tips for XAUUSD:

  1. Buy according to the pattern in Additional Zone [1258.2 – 1257.4]. TakeProfit: Target Zone [1272.0 – 1269.0]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [1250.4 – 1248.9]. Target Zone [1270 – 1269.0]. StopLoss: according to the pattern rules.

XAGUSD

Silver middle-term downtrend develops. Currently, the price is trading above the middle-term support [15.82 – 15.75], which can start the correction. If the price reaches the key resistance TZ [16.51 – 16.44], we will look for sells.

We see in the shorter timeframe chart that traders retested Intermediary Zone [16.12 – 16.08]. They couldn’t close the price above the zone, so we are still looking for sells today. However, it will be relevant, provided there is a corresponding pattern.

If there is no sell signal, and the zone is broken out with consolidation, we will follow the alternative scenario tomorrow: buying the instrument with the target in the upper Target Zone [16.51 – 16.44].

Today's trading tips for XAGUSD:

Sell according to the pattern in Intermediary Zone [16.12 – 16.08]. TakeProfit: Target Zone 2 [15.82 – 15.75]. StopLoss: according to the pattern rules.

IZ - Intermediary Zone: responsible for the price momentum reversing.
TZ - Target Zone: a zone that is 75% likely to be reached after IZ breakout.
GZ - Gold Zone: zone in the medium-term momentum.
All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.

Did you like my post? Share it on the social networks; it would be the best thanks :)

Write your questions and comments below. I will be pleased to answer and explain.

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 high-quality analytics, Forex reviews, training articles, and other useful things for traders http://t.me/liteforex.

Analysis for oil, gold and silver for 10.07.2018

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