Growth target for oil quotes is level 71.00

WTI

Yesterday, Target Zone 2 [68.72 – 68.47] was broken out from below, the next upward target is TZ 3 [71.27 – 71.02].

The short-term trend was retained and continued up from the key support [67.80 - 67.67]. Trading recommendation to buy worked out.

For now, wait for the local correction and open more purchases according to patterns. Good buy prices are in Additional Zone [67.79 – 67.72] and in Intermediary Zone [69.15 – 69.02]. The target will be the local high and Target Zone 3 [71.27 – 71.02].

Today's trading tips for WTI:

  1. Buy according to the pattern in Additional Zone [67.79 – 67.72]. TakeProfit: 70.36, Target Zone 3 [727 – 71.02]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [69.15 – 69.02]. TakeProfit: 70.36, Target Zone 3 [71.27 – 71.02]. StopLoss: according to the pattern rules.

XAUUSD

Gold continues falling in price. The target for the middle-term decrease is Target Zone 4 [1241.2 – 1238.1].

The short-term trend is also downward.

It is clear in the chart that Gold Zone [1262.8 – 1261.2] was broken out yesterday; and so, the next target is Target Zone 2 [1247.3 – 1244.2].

Today, look for sells in the strong resistance zones. The key resistance is Intermediary Zone [1270.5 – 1268.9].

Today's trading tips for XAUUSD:

  1. Sell according to the pattern in Additional Zone [1269 – 1261.2]. TakeProfit: 1254.0, Target Zone 2 [1247.3 – 1244.2]. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone [1270.5 – 1268.9]. TakeProfit: 1254.0, Target Zone 2 [1247.3 – 1244.2]. StopLoss: according to the pattern rules.

XAGUSD

Silver is trading down in the middle-term. The downward target is according to the pattern rules.

The local trend is also downward. Yesterday, traders were again testing Gold Zone [16.18 – 16.15], and it was held again.

However, currently, traders are trying to break out the strong zone. If they consolidate below level 16.15, the next target in the trend will be Target Zone 2 [15.82 – 15.75].

Therefore, when the price is being corrected, I recommend looking for sells according to the patterns and fixing a part of profits when the local lows are renewed.

Today's trading tips for XAGUSD:

  1. Sell according to the pattern in Additional Zone [16.30 – 16.28]. TakeProfit: 16.12, Target Zone 2 [15.82 – 15.75]. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone [16.49 – 16.46]. TakeProfit: 16.12, Target Zone 2 [15.82 – 15.75]. 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.

 

Analysis for oil, gold and silver for 27.06.2018

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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