CME changes margin requirements for crude-oil futures today. All zones that haven’t been broken out/ reached by the price must be rearranged

WTI

Oil continues trading up. The middle-term uptrend develops, and the target is Target Zone 2 that is now bordered by the range of [70.76 – 70.45].

I recommend you look for purchases in the zone of good buy prices [67.69 – 66.17] during the correction.

Oil local trend is also upward. Gold Zone [69.24 – 69.07] was broken out yesterday. It opens a new buy target, Target Zone 2 [70.76 – 70.45].

For today, I recommend looking for buys according to the pattern in Additional Zone [68.81 – 68.73] or in the key support zone [68.03 – 67.88]. A part of positions will be fixed around the local high.

WTI trading tips for today:

  1. Buy according to the pattern in Additional Zone [68.81 – 68.73]. TakeProfit: 69.53, G Target Zone 2 [70.76 – 70.45]. StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone [68.03 – 67.88]. TakeProfit: 69.53, G Target Zone 2 [70.76 – 70.45]. StopLoss: according to the pattern rules.

XAUUSD

Gold price is being corrected in the middle-term uptrend, whose target is testing the zone of good buy prices. The zone includes the broken out TZ and the key support at [1194.3 – 1180.2].

Let’s analyze the short-term chart.

It is clear that the short-term trend is still upward. Yesterday, there was a try to break out the zone of from above [1206.6 – 1197.3], but Additional Zone [1208.2 – 1207.4] served as the resistance. Finally, the gold price is again approaching the key support at [1198.8 – 1197.3].

As soon as the zone is tested, I recommend looking for a buy pattern. The main buy target is Target Zone 2 [1225.3 – 1222.2].

XAUUSD trading tips for today:

Buy according to the pattern in Intermediary Zone [1198.8 – 1197.3]. TakeProfit: 1214.0, Target Zone 2 [1225.3 – 1222.2]. StopLoss: according to the pattern rules.


XAGUSD

The silver trend hasn’t changed: the correction is developing between the key resistance [15.08 – 15.00] and Target Zone 4 [14.39 – 14.31].

Intermediary Zone [14.59 – 14.55] was reached just now. I recommend following the traders’ response to the key support and expecting a buy pattern. The needed formation will emerge if the yesterday's high is broken out with consolidation above.

If it doesn’t occur, we shall sell XAGUSD with the targets at 14.94, Target Zone [15.08 – 15.00].

If the US session closes below 14.55 today, the trend will reverse downwards and it will be relevant to sell.

XAGUSD trading tips for today:

Buy according to the pattern in Intermediary Zone [14.59 – 14.55]. TakeProfit: 14.94, Target Zone [15.08 – 15.00]. 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

Analysis for oil, gold and silver for 30.08.2018

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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