Gold and silver are trading in the zone of good buy prices

WTI

Oil price is being corrected and approaching the middle-term resistance [70.00 – 69.65]. If the price reaches the zone, look for a sell pattern and sell. Put the first take profit in Target Zone 2 [67.25 – 66.91].

The short-term trend is upward. WTI price has almost reached the upward target. Purchases should be at the breakeven, take profit - at 69.65.

Strong supports have been moved to [68.63 – 68.55] and [67.77 – 67.60]. If oil price is corrected towards them, add more purchases.

If IZ is broken out, we shall sell oil to the lower Target Zone [66.05 – 65.70] next week.

WTI trading tips for today:

  1. Don’t exit purchases in Additional Zone [67.84 – 67.75]. TakeProfit: Target Zone [70.00 – 69.65]. StopLoss: at breakeven.
  2. Buy according to the pattern in Additional Zone [68.63 – 68.55]. TakeProfit: Target Zone [70.00 – 69.65]. StopLoss: according to the pattern rules.
  3. Buy according to the pattern in Intermediary Zone [67.77 – 67.60]. TakeProfit: Target Zone [70.00 – 69.65]. StopLoss: according to the pattern rules.

XAUUSD

Gold middle-term trend remains the same.

Gold continues trading in the local uptrend. Now, XAUUSD quotes are trading in the zone of good buy prices [1227.5 – 1218.2]. Look for a reversal pattern carefully and buy, provided it appears. The target is still Target Zone [1245.6 – 1242.5].

The trend will reverse if Intermediary Zone [1219.7 – 1218.2] is broken out. If so, the target will be lower TZ. This scenario is hardly likely.

XAUUSD trading tips for today:

Buy according to the pattern in [1227.5 – 1218.2]. TakeProfit: Target Zone [1245.6 – 1242.5]. StopLoss: according to the pattern rules.


XAGUSD

The silver middle-term trend is similar to the gold situation. There is trading range between TZ 3 [15.10 – 15.03] and the key resistance [15.92 – 15.85].

Let’s analyze silver price chart with additional margin zones.

Silver is trading now between AZ [15.44 – 15.42] and IZ [15.26 – 15.22]. In the zone, one should look for a buy signal and, if it emerges, buy with a target in Target Zone [15.92 – 15.85]. The zone is 70% likely to be reached by XAUUSD price.

This scenario will be canceled if the key support is broken out with consolidation below. If so, we shall see with a target in [14.90 – 14.82] starting from next week.

XAGUSD trading tips for today:

  1. Buy in Additional Zone [15.44 – 15.42]. TakeProfit: 15.61, Target Zone [15.92 – 15.85]. StopLoss: 15.35.
  2. Buy according to the pattern in Intermediary Zone [15.26 – 15.22]. TakeProfit: 15.61, Target Zone [15.92 – 15.85]. 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 XAGUSD in real time mode

Analysis for oil, gold and silver for 27.07.2018

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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