Gold and silver are trading in the zone of good buy prices
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:
- Don’t exit purchases in Additional Zone [67.84 – 67.75]. TakeProfit: Target Zone [70.00 – 69.65]. StopLoss: at breakeven.
- 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.
- 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.
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.
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:
- Buy in Additional Zone [15.44 – 15.42]. TakeProfit: 15.61, Target Zone [15.92 – 15.85]. StopLoss: 15.35.
- 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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Real-time price chart of XAGUSD
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