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.
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.
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
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