USCrude

Oil price is rising in the middle-term uptrend. The growth target is Target Zone 3 [55.39 – 54.96].

The local short-term trend is also upward. The growth target is the January high. There are only a few points left to the target.

Further growth will depend on whether players can consolidate above Gold Zone 2 [53.04 - 52.82]. If so, look for long positions up to Target Zone 3 [55.39 - 54.96]. Otherwise, we can expect a correction in order to buy oil at good prices.

Today, I recommend to hold purchases up to the target and then to move them to breakeven, if you have followed my trading recommendation.

USCrude trading tips for today:

Hold up purchases from level 51.25. TakeProfit: 53.17. StopLoss: at breakeven.


XAUUSD

Gold price is closing the week, like the previous one, trading flat.

Based on the methodology, gold middle-term uptrend is expected to continue. To do it, buyers need to break out Target Zone 3 [1301.7 – 1298.3] and consolidate above. They are quite likely to break through TZ3 as in the longer timeframe, there is a continuation Pennant pattern emerging.

The gold short-term trend is upward. Nothing has changed for the XAUUSD local situation since yesterday. Gold is still trading in two channels: intraday and short-term ones.

Expect until the price exits the flat and take your trading decisions based on the results. For today, I don’t recommend entering any trades for gold. 

XAUUSD trading tips for today:

Don’t enter any trades.


XAGUSD

Silver price is being corrected to the middle-term upward momentum. The trend remains upward. Look for purchases at good prices with the target to break through the annual high and reach Target Zone 3 [16.12 – 16.05].

For aggressive trading recommendation, stop loss worked out.

However, the key support at [15.51 – 15.47] is being held and the short-term uptrend continues.

In this situation, it is not safe to enter a trade without a pattern. To buy, expect until the high of January 16 is broken through with consolidation above; in this case, there will emerge a false breakout pattern. To sell, you’d better expect Intermediary Zone [15.51 – 15.47].breakout

XAGUSD trading tips for today:

Buy according to the pattern in Intermediary Zone [15.51 – 15.47]. TakeProfit: 15.86. 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 18.01.2019

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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