Market analysis suggests a clash of middle-term and short-term trends
Oil downtrend develops. The key resistance is in the range of [70.00 – 69.65]. If WTI price reaches the zone, I recommend looking for a sell pattern. The target for short trades will be Target Zone 2 [67.25 – 66.91] and renewing the low of July 17.
Oil short-term trend is upward. At the end of last week, oil prices were down into the zone of good buy prices [68.63 – 67.60]. I think the correction is not over yet, so one can aggressively sell WTI from Additional Zone [68.88 – 68.80], aiming at testing Intermediary Zone [67.77 – 67.60].
When WTI quotes reach IZ, first of all, look for buy signals. The target fro long trades will be the upperTarget Zone [70.00 – 69.65].
WTI trading tips for today:
- Aggressively: sell from Additional Zone [68.88 – 68.80]. TakeProfit: 67.98, Intermediary Zone [67.77 – 67.60]. StopLoss: 69.26.
- 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 is trading down in the middle-term on Monday. Last week, there was an attempt of the price correction towards the key resistance [1245.6 – 1242.5]. Now, gold price is gain approaching the local lows. I don’t recommend selling at the current prices, as well as buying. These recommendations are relevant for trading gold in the middle-term.
Gold short-term trend remains upward. Buy target is Target Zone [1245.6 – 1242.5].
Currently, gold price is testing Target Zone [1245.6 – 1242.5]. It is highly likely to renew Friday’s low, and next, I recommend watch the instrument...Buying gold will be relevant if there is a reversal pattern, for example, false breakout.
Selling will be relevant if the US session closes below IZ today. In this case the target will be the lower Target Zone [1204.2 – 1201.1].
XAUUSD trading tips for today:
Buy according to the pattern in Intermediary Zone [1219.7 – 1218.2]. TakeProfit: Target Zone [1245.6 – 1242.5]. StopLoss: according to the pattern rules.
Silver continues trading down in the middle-term. Good prices to trade in the trend are in the range of [15.92 – 15.75].
Silver short-term trend is upward, however, XAGUSD price is being corrected now. The correction target is the key support [15.26 – 15.22] test. After the zone is tested, expect a buy signal and buy silver with a target in Target Zone [15.92 – 15.85].
Alternative scenario: sell after the U.S. trading session closes below 15.22.
XAGUSD trading tips for today:
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 USCrude in real time mode
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