As of today, new margin requirements for Crude Oil futures are introduced. All margin zones that haven’t been broken out/reached by the price must be rearranged, based on the above changes.
Oil price has reached another target in the middle-term downtrend Target Zone 9 [48.44 – 48.08] at the beginning of the trading session today. Currently, the price is going up from this support.
The key resistance, Target Zone, is painted according to the new margin; it is now at [52.48 – 52.12]. If it reached, we shall first of all look for new sales in the trend.
The short-term oil trend is downward. Target Zone 2 [48.57 – 48.21] has been reached at the opening of the trading session.
Currently, the price is rolling back and breaking through the key resistance of the short-term trend at [50.47 – 50.29], with a possible target in the upper Target Zone [52.48 – 52.12].
If the upper TZ is reached, the local trend will reverse upwards and we shall look for oil buys. If the IZ is held and the price goes back below the zone, we shall be looking for new sales with the target to break through the local low.
WTI trading tips for today:
If the price goes back below the key resistance [50.47 – 50.29] – sell according to the pattern. TakeProfit: Target Zone 2 [48.57 – 48.21]. StopLoss: according to the pattern rules.
Gold price is trading below the key resistance at [1233.7 – 1230.3]. I suggest looking for a sell signal in the middle-term.
Let’s see the shorter timeframe. There is a local correction and the sell pattern 1-2-3.
On Friday, Additional Zone [1221.5 – 1220.7] was tested. It is the strong support and prevents from selling. If it is broken out, traders are likely to test the key support at Intermediary Zone [1213.0 – 1211.3].
Until it occurs, I suggest looking for a pattern to by the precious metal with the targte to break through the local high.
XAUUSD trading tips for today:
- Buy according to the pattern in Additional Zone [1225 – 1220.7]. TakeProfit: Target Zone [1233.7 – 1230.3]. StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone [1213.0 – 1211.3]. TakeProfit: Target Zone [1233.7 – 1230.3]. StopLoss: according to the pattern rules.
Silver traders are trying to form a sell pattern in the downtrend. To do it, they need to break through level 14.22 and consolidate below. Otherwise, silver price will go up and renew the high of the last week.
On November 23, Friday, there was a corrective drawdown towards the key support at [14.19 – 14.15]. Currently, the price is going up from the local lows, but there is the strong resistance [14.38 – 14.37].on its way up.
To buy in the trend, traders need to break through level 14.38 and form a corresponding pattern. In this case, the target will be the high at 14.54 and Target Zone [14.68 – 14.61].
Selling will be relevant after the trend reverses via the key support breakout.
XAGUSD trading tips for today:
Buy according to the pattern in Intermediary Zone [14.19 – 14.15]. TakeProfit: 14.54, Target Zone [14.68 – 14.61]. 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
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