Metals are trading under the strong resistances, being corrected. Purchases will be relevant after the test of the key support or the resistance breakout 

USCrude

Oil price is being corrected and is currently testing the strong support Target Zone 3 [54.98 – 54.59]. Lower, there is the trend key support [53.56 – 53.17]. They make up a good buy zone, where you should look for a pattern Buy target is the local high.

Yesterday, there was a strong down-momentum, which broke IZ out and consolidated the price below. Thus, the short-term trend reversed downwards. Now, it is relevant to enter sell trades with a target at the lower Target Zone [53.56 – 53.17].

Good sell prices are in the zones of strong resistances, like Additional Zone [55.80 – 55.70] and Intermediary Zone [56.87 – 56.68]. Expect a correction and look for signals.

 

USCrude trading tips for today:

  1. Sell according to the pattern in Additional Zone [55.80 – 55.70]. TakeProfit: 54.75, Target Zone [53.56 – 53.17]. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone [56.87 – 56.68]. TakeProfit: 54.75, Target Zone [53.56 – 53.17]. StopLoss: according to the pattern rules.

XAUUSD

Gold price is being corrected down in the middle-term uptrend. If the correction is further developing, the target will be Target Zone [1312.7 – 1309.3], where I recommend looking for new purchases.

The local gold trend is still downward. Last Friday and this Monday, the price was being corrected, testing Additional Zone [1330.4 – 1329.5]. The resistance has been held, followed by a 1-2-3 sell pattern

Today, I recommend selling gold either from the current levels, or from the level of 1330.3, with a stop beyond the high of February 22 and a take profit at the low renewal. The second part may be left for the middle term, until the lower Target Zone [1312.7 – 1309.3] is reached

The second zone to look for sales is the trend key resistance that is at [1339.7 – 1338.0].

 

XAUUSD trading tips for today:

  1. Sell according to the pattern in Additional Zone [1330.4 – 1329.5]. TakeProfit: 1322, Target Zone [1312.7 – 1309.3]. StopLoss: 1334.
  2. Sell according to the pattern in Intermediary Zone [1339.7 – 1338.0]. TakeProfit: 1321.2, Target Zone [1317 – 1309.3]. StopLoss: according to the pattern rules

XAGUSD

Silver, like gold, is being corrected in the middle-term timeframe. The correction is likely to be going towards the trend key support [15.49 – 15.42].

In the shorter timeframe, the uptrend will be going on until Intermediary Zone [15.85 – 15.81] is broken through. The pattern should emerge after the breakout of the local resistance Additional Zone [15.96 – 15.94] and consolidation above the yesterday’s high. In this case, I suggest buying silver with target to break through the February’s high.

If Intermediary Zone is broken out, and the US session closes below the zone, the trend will reverse downwards. In this case, it will be relevant to sell with a target at the lower Target Zone [15.49 – 15.42].

 

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 26.02.2019

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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