WTI

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

Oil is trading down in the short-term. Oil traders were testing Intermediary Zone [69.50 – 69.34] yesterday. The zone was held and a sell pattern has emerged.

For today, I suggest you wait the price correction against the yesterday’s downward momentum and sell WTI with a target in Target Zone [67.83 – 67.52].

WTI trading tips for today:

Sell at 68.87. TakeProfit: Target Zone [67.83 – 67.52]. StopLoss: 69.51.


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.

Let’s see the local trend. Gold is trading down in the short-term, as IZ [1197.2 – 1195.6] was broken out with consolidation on Friday.

Additional Zone [1201.3 – 1200.5] was being tested yesterday. The zone is the strong resistance, so, I suggest looking for sells according to the pattern there. The second zone to look for sales is Intermediary Zone [1209.8 – 1208.3], it is the key resistance to the trend

The first target in both cases will be the local low, the second one - Target Zone [1181.7 – 1178.6].

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 is trading at about $14 per ounce. The middle-term trend is downward; however, before you open sell position, I recommend expecting good sell prices in the key resistance zone [14.68 – 14.61] and looking for a pattern.

Silver is trading down in the short-term.

The key resistance [14.29 – 14.25] was tested last week, it was held. There was an opportunity to enter sells yesterday. The next local low was reached.

For today, I suggest moving stop-loss above the yesterday’s high. If the silver price goes up and breaks through IZ, I recommend looking for buys with a target in the upper Target Zone [14.68 – 14.61].

XAGUSD trading tips for today:

Hold on sell positions according to the pattern in Intermediary Zone [14.29 – 14.25]. TakeProfit: Gold Zone [13.87 – 13.83]. StopLoss: 14.21.

 

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 18.09.2018

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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