WTI

Oil price reached the strong middle-term resistance Target Zone [70.76 – 70.45] 2 yesterday. As the zone hasn’t been broken out, the oil price is not likely to reach TZ 3 [73.86 – 73.55]. The middle-term trend is, however, upward and the last week’s local high is likely to be renewed.

The local trend is also upward. Oil traders tried to break out Target Zone [70.13 – 69.82], but the US session has closed inside the zone today. The resistance has been held, so, oil price may corrected towards the key support to the trend at [69.38 – 69.23].

After the support is reached, look for buys according to the pattern with the target to break thorough yesterday’s high and reach Gold Zone [71.52 – 71.37].

If IZ is broken out, the trend will reverse downwards, and we shall look for oil sales tomorrow.

WTI trading tips for today:

Buy according to the pattern in Intermediary Zone [69.38 – 69.23]. TakeProfit: 70.90, Gold Zone [71.52 – 71.37]. StopLoss: according to the pattern rules.


XAUUSD

Gold buyer had been accumulating positions, and started buying in the trend yesterday. The buy target is Target Zone 2 [1225.3 – 1222.2]. I recommend looking for the entry point in the shorter timeframes.

Let’s analyze the shorter timeframe.

Intermediary Zone [1204.8 – 1203.2] was broken out yesterday. The local trend reversed upwards. Today, we shall look for XAUUSD purchases with the a target in Target Zone [1221.8 – 1218.7].

I recommend buying on the correction, in Additional Zone [1200.7 – 1200.0], with a stop beyond the zone at 1196.9. The first take profit is at the high renewal.

The second zone to look for buys is Intermediary Zone [1193.0 – 1191.4]. Look for trades according to the pattern there.

XAUUSD trading tips for today:

  1. Buy in Additional Zone [1200.7 – 1200.0]. TakeProfit: 1208.2, Target Zone [1228 – 1218.7]. StopLoss: 1196.9.
  2. Buy according to the pattern in Intermediary Zone [1193.0 – 1191.4]. TakeProfit: 1208.2, Target Zone [1221.8 – 1218.7]. StopLoss: according to the pattern rules.

XAGUSD

Silver price is being corrected slowly in the downtrend. If silver price reaches the key resistance [14.68 – 14.61], we shall look for purchases.

The short-term trend is downward. The silver price is approaching the key resistance [14.29 – 14.25]. It is still too early to sell in the zone, you’d better a technical pattern. If there is one, look for sells with the target to renew the low of September 11 and reach Gold Zone [13.87 – 13.83].

If Intermediary Zone is broken out from below with a consolidation, the trend will reverse upwards, and we shall start buying silver up to the upper Target Zone [14.68 – 14.61].

XAGUSD trading tips for today:

Sell according to the pattern in Intermediary Zone [14.29 – 14.25]. TakeProfit: Gold Zone [13.87 – 13.83]. 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

Analysis for oil, gold and silver for 13.09.2018

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.

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