Gold price reached the first middle-term buy target. The second one is Target Zone 4

USCrude

Yesterday, oil price broke out Target Zone 3 [54.98 – 54.59] and consolidated above. The next growth target can be surely identified if the US session closes above level 54.98 today.

Nothing has changed for the short-term trend since yesterday, as it was day off in the USA. Let’s see what’s going on now…

Well, Target Zone has been broken out, and so, the next buy target is Gold Zone [57.21 – 57.02]. Strong supports are in the zones of [55.34 – 55.24] and [54.37 – 54.17].

To buy in the trend, expect a correction towards the above zones and look for a pattern. Selling will be relevant if the key support is broken out. If so, the trend will reverse downwards, and the target will be the lower Target Zone [52.42 – 52.03].

 

USCrude trading tips for today:

  1. Buy according to the pattern in Additional Zone [55.34 – 55.24]. TakeProfit: 56.28, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [54.17 – 53.97]. TakeProfit: 56.28, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.

XAUUSD

Gold price reached the first middle-term buy target. The second one is Target Zone 4 [1335.7 – 1332.3].

My congratulation to the traders, who followed my trading recommendation to buy gold in the short term. The major target has been reached, the profit has been made. `

The price may grow higher towards Target Zone 4 [1335.7 – 1332.3]. It could occur through a correction.

In case of a correction, the supports will be Additional Zone and the new Intermediary Zone [1310.6 – 1308.9]. After the zones are tested, look for a buy pattern.

 

XAUUSD trading tips for today:

  1. Buy according to the pattern in Additional Zone [1319.1 – 1318.3]. TakeProfit: 1327.3. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [1310.6 – 1308.9]. TakeProfit: 1327.3. StopLoss: according to the pattern rules.

XAGUSD

Silver price rolled back from the trend border [15.46 – 15.39]. The growth target is the high of January 31. I don’t rule out the support retest.

The local short-term trend is downward, and it contradicts to the middle-term trend.

The price is currently rolling back from Intermediary Zone [15.88 – 15.84]. To buy, we need a pattern, so we shall expect the situation result.

Buying will be relevant after the breakout and consolidation above level 15.88. If so, the target will be the upper Target Zone [16.28 – 16.20].

 

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

Analysis for oil, gold and silver for 19.02.2019

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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