Silver price is being corrected up in the downtrend, correction possible target is at [14.68 – 14.61]
On the last day of the trading week, oil price is opened below the strong middle-term resistance Target Zone 2 [70.76 – 70.45]. Buyers couldn’t consolidate below the zone yesterday; they may succeed today.
Oil is trading up in the short-term; however, the price rise was stopped by the resistance zone [71.20 – 70.89]. Next, WTI price started being corrected and go on currently.
For today, I recommend looking for WTI purchases in the zone of [70.51 – 69.58]. Buy when there is a pattern. The targets are yesterday’s high and Gold Zone [72.60 – 72.44].
WTI trading tips for today:
Buy according to the pattern in the zone of [70.51 – 69.58]. TakeProfit: 71.25, Gold Zone [72.60 – 72.44]. StopLoss: according to the pattern rules.
Gold finishes the week, trading up, if nothing extraordinary occurs. Remember, the middle-term buy target is Target Zone 2 [1225.3 – 1222.2].
In the shorter time-frame, gold price is testing the key resistance in the local downtrend. On the short-term scope, it makes some sense to sell; however, before you it, you should find a reversal pattern as an entry point. There hasn’t yet been a pattern.
If Intermediary Zone [1209.8 – 1208.3] is broken out today, the gold short-term trend will reverse upwards, and the target will be the upper Target Zone [1226.9 – 1223.8]. If so, I suggest looking for sells next week.
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.
Silver price is being corrected in the middle-term trend, the correction is limited by the key resistance to the trend [14.68 – 14.61]. After the zone is reached, first, look for sells.
The US session closed the silver price inside Intermediary Zone [14.29 – 14.25] yesterday, but it was broken through at the Asian session. It is the first sign of the trend reversal. As it is Friday today, I recommend expecting until the US trading session closes.
If the US session closes XAGUSD inside IZ, look for new sells next week. If it closes above the zone, the trend will reverse upwards, and, according to the margin zones approach, the target will be Target Zone [14.68 – 14.61].
XAGUSD trading tips for today:
Expect until the U.S. session closes
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
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