Gold short-term trend reversed downwards. Sell target is Target Zone

USCrude

Oil price is growing in the middle-term uptrend and is currently approaching the resistance Target Zone 4 [58.88 – 58.49]. The key support is at [53.56 – 53.17]. I recommend expecting the correction and further oil purchases.

Short-term trend is upward. Last Friday, the local high was broken through and the price increased after the correction to Additional Zone [56.25 – 56.15].

For today, new target to look for new buys are Additional Zone [56.48 – 56.38] and Intermediary Zone [55.51 – 55.31]. I recommend expecting a correction to these supports and looking for buys according to the pattern. The target will be the high renewal.

The trend will reverse if IZ is broken out with consolidation below

 

USCrude trading tips for today:

  1. Buy according to the pattern in Additional Zone [56.48 – 56.38]. TakeProfit: 57.4 StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [55.51 – 55.31]. TakeProfit: 57.41. StopLoss: according to the pattern rules.

XAUUSD

Gold is back under the middle-term resistance Target Zone 4 [1335.7 – 1332.3]. The resistance has been held, so, a buy target is the local high. Look for purchases from the key support [1312.7 – 1309.3].

Local gold trend reversed downwards. It is clear from the shorter timeframe chart with the layout of junior margin zones. Now, the sell target is the lower Target Zone [1312.7 – 1209.3].

The price currently being corrected and has reached Additional Zone [1330.4 – 1329.5], the strong resistance, where it is relevant to look for sales according to the pattern. The second zone to look for sales will be Intermediary Zone [1339.7 – 1338.0] if the price doesn’t reach it. Partial take profit should be put at the renewal of the low of February 12.

 

XAUUSD trading tips for today:

  1. Sell according to the pattern in Additional Zone [1330.4 – 1329.5]. TakeProfit: 1326, Target Zone [1312.7 – 1309.3]. StopLoss: according to the pattern rules
  2. Sell according to the pattern in Intermediary Zone [1339.7 – 1338.0]. TakeProfit: 1321.6, Target Zone [1317 – 1309.3]. StopLoss: according to the pattern rules

XAGUSD

Silver buyers can’t yet break through Target Zone 3 [16.12 – 16.05], but the trend remains upward. If they manage to consolidate above the zone, the next target will be TZ 4 [16.84 – 16.77].

XAGUSD short-term trend is upward. Traders were recently testing Intermediary Zone [15.85 – 15.81], but hasn’t break it through and consolidate below.

Therefore, look for buys according to the pattern in IZ or in Additional Zone [15.96 – 15.94] if it is broken through. The target is February’s high.

Selling will be relevant if there is a reversal pattern in the shorter timeframe close to Additional Zone [15.96 – 15.94]. The second way to enter short trades is if the key support is broken out and consolidation below.

 

XAGUSD trading tips for today:

  1. Buy according to the pattern in Intermediary Zone [15.85 – 15.81]. TakeProfit: 16.2 StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Additional Zone [15.96 – 15.94]. TakeProfit: 15.77. 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 XAUUSD in real time mode

Analysis for oil, gold and silver for 25.02.2019

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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