Silver buyers closed above 14.29 yesterday. Local trend turned to uptrend

WTI

Apparently, the medium-term uptrend for oil has stopped. Buy in case of correction in the zone of [69.54 – 69.23]. The target is TZ 3 [73.86 – 73.55].

The short-term trend is ascending. Traders attempted to break Gold Zone [72.60 – 72.44] again yesterday, to no avail. The Additional Zone [71.87 – 71.79] was tested at today’s opening of the trading session. This zone is a powerful support level, so search for long positions form there.

The trend key level located between [71.09 – 70.94] is another mark for looking for long positions. Once the zone has been reached, look for a reversal pattern. The local maximum will be the target.

 

WTI  Trading decisions for today:  

  1. Buy according to the pattern from Additional Zone [787 – 71.79]. TakeProfit: Gold Zone [72.60 – 72.44]. StopLoss: According to pattern rules
  2. Buy according to the pattern from Intermediary Zone [71.09 – 70.94]. TakeProfit: Gold Zone [760 – 72.44]. StopLoss: According to pattern rules

XAUUSD

Obviously, gold traders are building positions. The priority is still ascending. Closest targets: August’s maximum and Target Zone 2 [1225.3 – 1222.2].

The local trend is downward. Yesterday’s trading session didn’t clear the situation up. We see a breakout of Additional Zone [1200.4 – 1199.6] on the chart, but the price isn’t rushing to the key resistance at [1208.9 – 1207.3].

If the quotes collapse today and consolidate bellow yesterday’ low, there will be a pattern to sell. Otherwise, I recommend considering correction buys.

 

XAUUSD Trading decisions for today: 

  1. Aggressively: buy according to the pattern from the zone [1200.4 – 1195.7]. TakeProfit: Intermediary Zone [1208.9 – 1207.3]. StopLoss: According to pattern rules
  2. Sell according to the pattern from Intermediary Zone  [1208.9 – 1207.3]. TakeProfit: 1192, Target Zone [1181.7 – 1178.6]. StopLoss: According to pattern rules

 


XAGUSD

Silver is approaching Target Zone [14.68 – 14.61]. After the zone is tested, it will be suitable to look for sells according to the pattern within a general downtrend.

The local trend became ascending. Buyers closed yesterday’s trading session above Intermediary Zone [14.29 – 14.25].

Now, the target is the upper Target Zone [14.68 – 14.61]. I recommend buying during correction to strong support levels. Consider long positions with a stop order in the zone from Additional Zone [14.37 – 14.35].

If the correction turns out deep and the prices reach Intermediary Zone [14.19 – 14.16], search for buys according to the pattern.

 

XAGUSD Trading decisions for today:  

  1. Buy from Additional Zone [14.37 – 14.35]. TakeProfit: 14.55, Target Zone [14.68 – 14.61]. StopLoss: 14.28.
  2. Buy according to the pattern from Intermediary Zone [14.19 – 14.16]. TakeProfit: 14.55, Target Zone [14.68 – 14.61]. StopLoss: According to pattern rules

IZ - Intermediary Zone - Reflects changes in priority directions of price movements 

TZ - Target Zone - The zone which will be reached with a 75% chance once IZ has been broken through. 

GZ - Gold Zone - The zone in a medium-term impetus 

All the zones are calculated based on a daily average movement and margin requirements of the futures market.

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Price chart of XAGUSD in real time mode

Analysis for oil, gold, and silver for 26.09.2018

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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