Gold is again trading in the zone of good buy prices. I suggest looking for a buy signal and opening purchases

WTI

Oil is trading between the key support to the trend at [68.05 – 67.74] and Target Zone 2 [70.76 – 70.45]. The middle-term trend is upward.

Let’s see the local trend.

The sort-term oil trend is still downward. Oil traders were testing Intermediary Zone [69.50 – 69.34] on Friday but couldn’t break out the zone.

For today, I suggest you look for new sells according to the pattern with a target to renew the Friday’s low. We won’t buy until the U.S. session closes above 69.50.

WTI trading tips for today:

Sell according to the pattern in Additional Zone [69.50 – 69.34]. TakeProfit: Target Zone [67.83 – 67.52]. StopLoss: according to the pattern rules.


XAUUSD

Gold is again trading in the zone of good buy prices. I suggest you go on looking for a buy signal to go long.

The key support to the local uptrend at [1197.2 – 1195.6] was tested on Firday. THE zone was broken out, and so, the local trend reversed downwards.

For today, it is relevant to look for gold sales with a target in Target Zone [1181.7 – 1178.6]. Look for sell positions in either Additional Zone [1201.3 – 1200.5] or in Intermediary Zone [1209.8 – 1208.3].

XAUUSD trading tips for today:

  1. Sell according to the pattern in Additional Zone [1203 – 1200.5]. TakeProfit: 1193.1, Target Zone [1187 – 1178.6]. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone [1209.8 – 1208.3]. TakeProfit: 1193.1, Target Zone [1181.7 – 1178.6]. StopLoss: according to the pattern rules.

 


XAGUSD

Silver price is drawing a buy pattern in the longer timeframe. The middle-term silver trend is still downward, according to margin zones. In this situation, I suggest expecting the test of the key resistance [14.68 – 14.61] and looking for sales.

Let’s analyze the shorter timeframe.

Silver is trading in the short-term downtrend, whose target is to renew the September’s low and reach Gold Zone [13.87 – 13.83]. There is a sell pattern, so you can use it if you don’t yet have sell positions opened.

Buying won’t be relevant, until the silver buyers break out the key resistance IZ [14.29 – 14.25] and consolidate silver price above. If so, the trend will reverse upwards and the target will be 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 XAUUSD in real time mode

Analysis for oil, gold and silver for 17.09.2018

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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