WTI

In the WTI longer timeframe, there is the price rebound from the strong support Target Zone 7 [55.09 – 54.78]. On Friday, the key resistance of the middle-term downtrend [58.16 – 57.85] was tested, but there haven’t yet been any sell signals.

If the price again goes up to TZ, the trend my reverse upwards.

The local short-term trend is upward.

On Friday, all major buy targets for WTI were reached according to trading recommendations. The key support [56.38 – 56.22] was tested at the US trading session.

For today, I suggest looking for WTI buys according to the pattern with the target to break through Friday’s high.

If IZ is broken out from above with consolidation below, we shall resume looking for short-term sales tomorrow.

WTI trading tips for today:

Buy according to the pattern in Intermediary Zone [56.38 – 56.22]. TakeProfit: 57.85. StopLoss: according to the pattern rules.


XAUUSD

Gold price is being corrected in the middle-term downtrend. Target Zone [1209.4 – 1206.0] was broken out last week; therefore, sell targets for this weeks are the local low and Target Zone 2 [1175.4 – 1172.0]. We only need to find the entry point.

Let’s analyze the H1 chart, where margin zones are marked. Let’s study the local trend by their means.

Gold was closed above Intermediary Zone [1215.0 – 1213.3] on Friday. I didn’t recommend you to trade that day, waiting until the situation was clear. As the price was closed above the zone, the local trend reversed upwards; so, it is relevant to look for buys in the short-term. Buy targets will be Friday’s low and Target Zone [1233.7 – 1230.3].

I suggest you look for entry points in the broken out IZ, as well as in the key support to the trend at [1208.3 – 1206.6].

XAUUSD trading tips for today:

  1. Put a buy limit order in Intermediary Zone [1215.0 – 1213.3]. TakeProfit: 1225.0, Target Zone [1233.7 – 1230.3]. StopLoss: 1209.4.
  2. Buy according to the pattern in Intermediary Zone [1208.3 – 1206.6]. TakeProfit: 1225.0, Target Zone [1233.7 – 1230.3]. StopLoss: according to the pattern rules.

XAGUSD

Silver quotes have been corrected by 50% up from the previous fall. The middle-term trend is downward; so, it is the right time to focus on looking sell trades with the targets to break through the local low and reach TZ 5 [13.67 – 13.59].

The short-term trend reversed upwards after Intermediary Zone [14.29 – 14.25] had been broken out and the price closed above on Friday.

I recommend looking for entry point according to the pattern after any of the strong supports is tested: Additional Zone [14.24 – 14.22] or Intermediary Zone [14.06 – 14.02].

It is not clear which trend will be stronger; so, I recommend you to strictly follow you trading system and the signals, it generates.

XAGUSD trading tips for today:

  1. Buy according to the pattern in Additional Zone [14.24 – 14.22]. TakeProfit: 14.41, Target Zone [14.68 – 14.61]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [14.06 – 14.02]. TakeProfit: 14.41, Target Zone [14.68 – 14.61]. 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 19.11.2018

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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