Oil price is being corrected at the end of the week


Gold price is being corrected to the middle-term downtrend. The correction possible target is Target Zone [70.00 – 69.65], where I recommend looking for more trades in the trend.

In the short-term oil chart, it is clear that margin zone [68.09 – 67.92] is being tested. This zone is the key resistance to the short-term downtrend. If it is broken out, the buy target will be Target Zone [70.00 – 69.65]. It will be broken out if the US session closes above the resistance.

Until the trend reverses, look for sells. To do it, expect a pattern like false breakout. Sell target will be yesterday’s low and Gold Zone 2 [65.35 – 65.28].

Today's trading tips for WTI:

Sell according to the pattern in Intermediary Zone [68.09 – 67.92]. TakeProfit: 66.30, Gold Zone 2 [65.35 – 65.28]. StopLoss: according to the pattern rules.



Gold price, after it reached the support Target Zone 5 [1210.2 – 1207.1], is being corrected. In the middle-term trend, it is relevant to look for sells in the resistance zone [1245.6 – 1238.1]. The taregt will be the local low.

Let’s study gold short-term trend.

Gold is still trading down in the short-term timeframe. However, there are some conditions for the trend reversal. Yesterday, there was a strong momentum at the US session. The momentum drew the price up to Intermediary Zone [1228.5 – 1227.0]. At the Asian session, the price went down from the zone but stopped in Gold Zone [1219.4 – 1217.9], which hasn’t yet been broken through.

Considering all the facts, I recommend either expecting a sell pattern and selling XAUUSD with the target at 1212.0, or waiting until IZ is broken out with consolidation above.

Today's trading tips for XAUUSD:

Sell according to the pattern in Intermediary Zone [1228.5 – 1227.0]. TakeProfit: 1212.0. StopLoss: according to the pattern rules.


Silver price has reached the target, Target Zone 3 [15.11 – 15.03], and now is being corrected. The key resistance is at [15.92 – 15.85], so, if you want to sell XAGUSD at good prices, you need to wait.

Silver local trend is also downward. Now, silver price is testing Additional Zone [15.32 – 15.30]. Taking into account the yesterday's strong upward momentum, the price is likely to break out this zone and reach the key resistance [15.52 – 15.49].

After Intermediary Zone is reached, look for sells with a target in Target Zone 3 [15.11 – 15.03].

Today's trading tips for XAGUSD:

  1. Aggressively: buy in Additional Zone [15.32 – 15.30] if it is broken out. TakeProfit: Intermediary Zone [15.52 – 15.49]. StopLoss: 15.27.
  2. Sell according to the pattern in Intermediary Zone [15.52 – 15.49]. TakeProfit: Target Zone 3 [15.11 – 15.03]. 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.

Did you like my post? Share it on the social networks; it would be the best thanks :)

Write your questions and comments below. I will be pleased to answer and explain.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.

  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders http://t.me/liteforex.

Price chart of USCrude in real time mode

Analysis for oil, gold and silver for 20.07.2018

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.

Need to ask the author a question? Please, use the Comments section below. .
Start Trading
Follow us in social networks!
Live Chat
Leave feedback