USCrude

Yesterday, the US session closed above Target Zone 2 [51.11 – 50.69] for the second time. Now we can set the next buy target - Target Zone 3 [55.39 – 54.96].

I recommend looking for middle-term purchases in the correction towards the key support [48.40 – 47.97].

Gold Zone 2 [53.04 – 52.82] has almost been reached. It is target number 2 to buy in Additional Zone [51.40 – 51.29].

Since the high was renewed yesterday, the new price zones to look for purchases today are the support zone, AZ [51.61 – 51.60] and the key support to the short-term uptrend at [50.54 – 50.33].

If oil price reaches these zones, first, look for a buy pattern; if the zones are broken out, look for sells down to the next margin zone according to the order.

USCrude trading tips for today:

  1. Buy according to the pattern in Additional Zone [561 – 51.60]. TakeProfit: 52.67, Gold Zone 2 [53.04 – 52.82]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [50.54 – 50.33]. TakeProfit: 567, Gold Zone 2 [53.04 – 52.82]. StopLoss: according to the pattern rules.

XAUUSD

Gold rice is trading just below the resistance Target Zone 3 [1301.7 - 1298.3]. Sellers are still holding it on, but the trend is upward. So, the resistance breakout may be just a matter of time.

If the zone is broken out, the next target will be Target Zone 4 [1335.7 – 1332.3].

In the chart of the shorter timeframe, there is the short-term uptrend, but I don’t see a buy pattern. Currently, gold price is trading in the range of the corrective momentum, between the high and the low of January 4.

I recommend expecting until the situation is clearer. It will be if either the local high is renewed, or Intermediary Zone [1281.5 – 1279.8] is tested and we shall look for new buy signals. As a buy signal, I suggest a corresponding pattern of technical analysis, or a false breakout of the lows of January 8 and 4.

Alternative scenario to sell: breakout and consolidation below the key support to the trend. If so, we shall sell the precious metal down to the lower Target Zone [1264.5 – 1261.1].

XAUUSD trading tips for today:

Buy according to the pattern in Intermediary Zone [1281.5 – 1279.8]. TakeProfit: 1298.3. StopLoss: according to the pattern rules.


XAGUSD

Silver is trading in the correction, but the middle-term trend remains upward. The target is Target Zone 3 [16.12 – 16.05].

For silver, according to the yesterday’s trading idea, Stop Loss worked out. However, the support was at Additional Zone, drawn from the yesterday’s local high; and the price is rising again.

Considering that it is Friday today, I don’t recommend entering new trades. We may have to skip this trading situation and wait for the next entry point. If anyone is holding on silver purchases, the target is the high of January 4. The further price growth depends on whether silver buyers will break out Gold Zone 2 [15.88 – 15.85] or not.

XAGUSD trading tips for today:

Aggressive: Buy/don’t close buys in Additional Zone [15.60 – 15.58]. TakeProfit: 15.87. StopLoss: 15.475.

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

Analysis for oil, gold and silver for 11.01.2019

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.

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