According to the analysis of margin zones, oil and gold continue trading in the middle-term uptrend; silver is trading close to the flat upper border.
Oil continues trading in the middle-term uptrend. For now, we see the quotes being corrected. A possible correction target is the key support Target Zone [65.52 – 65.31], where we will look for futher purchases.
In the chart with additional zones, we see oil trading in the short-term uptrend. The price is trading near the key support Intermediary Zone [66.57 – 66.46].
If it is tested, I recommend buying the instrument with target of Friday’s highs and a stop order beyond the low of April 12.
If the key support is broken out from above with consolidation below, on the next trading day, we will start selling oil with the target at the lower Target Zone [65.52 – 65.31].
Today's trading tips for WTI:
Buy in Intermediary Zone [66.57 – 66.46]. TakeProfit: 67.57, Target Zone 3 [68.34 – 68.13]. StopLoss: 65.89.
Gold quotes are rising up from the key support to the middle-term uptrend at [1334.2 – 1331.5]. The upward target is last week’s high.
However, in the shorter timeframe, we see the short-term downtrend. Intermediary Zone [1350.2 – 1348.6] has been tested at the Asian session today.
There isn’t yet a sell pattern, but in case it emerges, I recommend looking for sells. The target will be last Friday’s high.
If IZ is broken out, then we shall switch to plan ‘B’: buying the precious metal, targeting the upper Target Zone [1367.2 – 1364.1]. April’s high is about at the same zone.
Today's trading tips for XAUUSD:
Sell according to the pattern in Intermediary Zone [1350.2 – 1348.6]. TakeProfit: Target Zone [1334.2 – 1331.1]. StopLoss: according to the pattern rules.
Silver is trading in the price corridor [16.62 – 16.05]. We shall wait until the price leaves the channel and consolidates beyond its borders, to look for further middle-term positions.
The short-term trend, like the long-term one, is still downward. Therefore, for today, we are primarily looking for sells with the target of Gold Zone [16.28 – 16.26].
Selling will be available when there is an additional signal, a pattern formed in the key resistance zone, IZ [16.57 – 16.55].
If there is no sell pattern, and the key resistance is broken out instead, we will buy silver. The target will be the upper Target Zone [16.76 – 16.73].
Today's trading tips for XAUUSD:
Sell according to the pattern in Intermediary Zone [16.57 – 16.55]. TakeProfit: 16.38, Gold Zone [16.28 – 16.26]. StopLoss: according to the pattern rules.
IZ - Intermediary Zone: responsible for changing the priority direction of the price movement.
TZ - Target Zone: a zone that, with a probability of 75%, will be reached after the breakout of the IZ.
GZ - Gold Zone: zone in the medium-term impulse.
SZ - Stop Zone: point of Stop Loss setting, selected statistically.
All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.
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