Gold price is rising, currently approaching January’s high
Oil price is rising and is currently breaking through the strong middle-term resistance Target Zone 3 [54.98 – 54.59]. If it is consolidated above, the next growth target will be Target Zone 4 [58.88 – 58.49].
Oil price has been closed above Target Zone [55.46 – 55.07], therefore, the buy target is now Gold Zone [57.21 – 57.02].
Look for purchases in the correction from the strong supports, such as Additional Zone and Intermediary Zone. The first take profit is at the updating of the high.
Selling oil will be relevant if the sellers break out the key support and consolidate below. In this case the target will be the lower Target Zone [52.22 – 51.83].
USCrude trading tips for today:
- Buy according to the pattern in Additional Zone [55.14 – 55.04]. TakeProfit: 56.09, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone [54.17 – 53.97]. TakeProfit: 56.09, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.
Gold price is rising, approaching the January’s high. If the high is broken through, we shall reconstruct the key support zone.
The local short-term trend is upward. Hold up purchases at the breakeven, according to trading recommendations. The growth target is 1326.0. After the local high is updated, the target will be the upper Target Zone [1335.7 – 1332.3].
The trend will reverse if the key support Intermediary Zone [1309.3 – 1307.6] is broken out. If so, it will be relevant to sell with a target in the Target Zone [1292.3 – 1288.9].
XAUUSD trading tips for today:
Hold up purchases from level 1308.0. TakeProfit: 1326.0. StopLoss: at breakeven
Silver price is rolling back from the trend key support [15.46 – 15.39]. Look for buy entries.
Let’s study the shorter timeframe chart. The short-term downtrend prevails here.
The downward target has been reached, the correction is developing now. It has already broken out the local resistance Additional Zone [15.68 – 15.66], and the price is currently trading close to Intermediary Zone [15.88 – 15.84].
Before you sell, expect IZ test and look for a pattern. If there is a pattern, the sell target will be Target Zone [15.46 – 15.39].
XAGUSD trading tips for today:
Sell according to the pattern in Intermediary Zone [15.88 – 15.84]. TakeProfit: Target Zone [15.46 – 15.39]. 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
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