According to margin zones, silver short-term trend reversed upwards

USCrude

Oil price consolidated above Target Zone 3 [54.98 – 54.59]. So, the next target is Target Zone 4 [58.88 – 58.49]. Look for buy entries on the correction towards both the broken out zone and the new key support [52.49 – 52.10].

In the shorter timeframe chart, the short-term trend is upward. The local low was renewed.

For today, the support zones are rearranged and we see that AZ is now at [55.41 – 55.31], and Intermediary Zone is at [54.44 – 54.24].

Look for new purchases in the correction towards the above zones according to the patterns. The current daily high can be set as a target profit.

 

USCrude trading tips for today:

  1. Buy according to the pattern in Additional Zone [55.41 – 55.31]. TakeProfit: 56.35, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [54.44 – 54.24]. TakeProfit: 56.35, Gold Zone [57.21 – 57.02]. StopLoss: according to the pattern rules.

XAUUSD

Gold buyers broke out the middle-term resistance TZ 4 [1335.7 – 1332.3] yesterday. Now, if the price is consolidated above the zone at the US session, the next upward target will be TZ 5 [1369.7 – 1366.3].

Let’s analyze the chart of a shorter timeframe. The short-term trend continues. Yesterday, TZ4 was broken out yesterday, and so, the next growth target is Gold Zone 4 [1351.0 – 1349.3].

Look for purchases in the correction according to reversal patterns from strong supports. The strong supports are Additional Zone and Intermediary Zone today. The latter determines the trend border.

 

XAUUSD trading tips for today:

  1. Buy according to the pattern in Additional Zone [1338.2 – 1337.4]. TakeProfit: 1346.5. StopLoss: according to the pattern rules
  2. Buy according to the pattern in Intermediary Zone [1329.7 – 1328.0]. TakeProfit: 1346.5. StopLoss: according to the pattern rules

XAGUSD

Silver price stopped in Target Zone 3 [16.12 – 16.05]. To draw it higher, buyers need to break this zone out and consolidate above. Otherwise, the price may drop into the support zone at [15.46 – 15.39].

The short-term trend reversed upwards via breakout and consolidation above Intermediary Zone [15.88 – 15.84] yesterday. For today, it is relevant to buy up towards the upper Target Zone [16.28 – 16.20].

I recommended looking for purchases in the correction from the strong support zones: Additional Zone and Intermediary Zone.

Selling will again relevant if the new IZ is broken out with consolidation below.

 

XAGUSD trading tips for today:

  1. Buy according to the pattern in Additional Zone [15.90 – 15.88]. TakeProfit: 16.07, Target Zone [16.28 – 16.20]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [15.72 – 15.68]. 16.07, Target Zone [16.28 – 16.20]. 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 XAGUSD in real time mode

Analysis for oil, gold and silver for 20.02.2019

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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