WTI

Oil price reached the first middle-term buy target, the high of September 4 was broken through. The next target is Target Zone 3 [73.86 – 73.55].

Let’s see the shorter timeframe.

Oil local trend reversed upward due to the Intermediary Zone [69.50 – 69.34] breakout and consolidation above. Target Zone [71.20 – 70.89], the strong support was reached yesterday. TZ hasn’t been broken through, so, the price can be corrected locally, providing an opportunity to look for more purchases in the trend.

Good zones to look for buy trades are Additional Zone [70.51 – 70.44] and Intermediary Zone [69.74 – 69.58]. Look for a buy pattern in the zones and target to break through today’s high.

WTI trading tips for today:

  1. Buy according to the pattern in Additional Zone [70.51 – 70.44]. TakeProfit: 725, Gold Zone [72.60 – 72.44]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [69.74 – 69.58]. TakeProfit: 71.25, Gold Zone [760 – 72.44]. StopLoss: according to the pattern rules.

XAUUSD

Gold price is rising in the uptrend. Hold on the middle-term purchases in the zone of [1194.3 – 1180.2] up to the target in Target Zone 2 [1225.3 – 1222.2].

The local trend is still downward. Sell target is Target Zone [1181.7 – 1178.6].

Gold price is being corrected up now, the target is the key resistance [1209.8 – 1208.3]. After the zone is tested, I suggest looking for buy signals. A signal will be provided if a reversal pattern of technical analysis emerges. If so, the sell target will be the low of September 17 and Target Zone [1181.7 – 1178.6].

If Intermediary Zone is broken out from below, the local trend will reverse upwards and we shall look for buy positions with a target in the upper TZ [1226.9 – 1223.8].

XAUUSD trading tips for today:

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 price is being corrected in the middle-term, limited by the key resistance to the trend at [14.68 – 14.61]. After the resistance is reached, first, look for sells. If the zone is broken through, I suggest looking for purchases up to Target Zone 2 [15.40 – 15.33].

Let’s see the silver short-term trend. Silver buyers still can’t break through the key resistance of the local downtrend [14.29 – 14.25]. There was a try yesterday, but the US session closed below.

Therefore, I recommend looking for more sells. Selling will be relevant if there is a clear technical pattern. In this case the target will be Gold Zone [13.87 – 13.83].

If silver buyers manage to consolidate the price below level 14.29, I suggest looking for buys the next treading day. IN this case, trend will reverse upwards and the target will be in the upper Target Zone [14.68 – 14.61].

XAGUSD trading tips for today:

Sell according to the pattern in Intermediary Zone [14.29 – 14.25]. TakeProfit: Gold Zone [13.87 – 13.83]. 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 20.09.2018

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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