Oil price is being corrected in the middle-term downtrend. The strong supports are in the zones of [67.49 - 67.18] and [69.18 – 68.87]
Oil price is being corrected in the middle-term downtrend. Currently, the price is testing the strong resistance at [67.49 – 67.18], however, the best sell prices are in Target Zone [69.18 – 68.87].
The short-term oil trend is upward. Buy target is Target Zone [69.18 – 68.87].
The key support Intermediary Zone [66.44 – 66.28] was tested yesterday. You could have opened purchases there, which should be moved to the breakeven now. The reason is the price return under the strong resistance [67.47 – 67.32].
If buyers are really interested in the price rise, the yesterday’s momentum will continue today and the local high will be broken through. Otherwise, if the key support is retested, I suggest looking for buy patterns.
WTI trading tips for today:
Hold on purchases in Intermediary Zone [66.44 – 66.28]. TakeProfit: 67.95, Target Zone [69.18 – 68.87]. StopLoss: at breakeven.
Gold price is being corrected in the middle-term uptrend. The correction possible target is Target Zone [1209.4 – 1206.0]. After the zone is reached, I recommend looking for a buy pattern.
Let’s see the short-term trend in the charts with additional margin zones. It is upward. Gold price is now testing the key support to the trend at [1226.4 – 1224.7].
If there is a buy pattern, I recommend entering trades with the target to break through the local high and reach Target Zone 2 [1251.7 – 1248.3].
If IZ is broken out from above with consolidation below at the US session, the next trading day, we shall start looking for XAUUSD sales with a target in the lower Target Zone [1209.4 – 1206.0].
XAUUSD trading tips for today:
Buy according to the pattern in Intermediary Zone [1226.4 – 1224.7]. TakeProfit: 1243.3, Target Zone 2 [1251.7 – 1248.3]. StopLoss: according to the pattern rules.
Sliver is still trading down in the middle-term. Selling will be available if there is a pattern/signal.
The key support to the short-term uptrend [14.48 – 14.44] was tested yesterday. The zone was held, and so, I suggest you go on looking for buys according to the pattern. The target is the high of October 16 and Target Zone [15.03 – 14.95].
If IZ is broken out before the US trading session finishes, the momentum will reverse downwards. The upper zone won’t be worked out, and the target will become the lower Target Zone [14.12 – 14.05].
XAGUSD trading tips for today:
Buy according to the pattern in Intermediary Zone [14.48 – 14.44]. TakeProfit: 14.83, Target Zone [15.03 – 14.95]. 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.
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Price chart of USCrude in real time mode
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