WTI

Oil price is being corrected to the recent ascending momentum. Favourable price zone for middle-term buys is marked by levels [56.28 – 55.57].

In the shorter tine-frame, the key support to the local short-term trend is being tested. It has the borders at [56.92 – 56.81]. In case a buy signal appears, I recommend buying WTI with the target of the local high renewal.

If traders mange to close American session below Intermediary Zone, than the trend will reverse and we will look for purchases up to lower Target Zone [55.80 – 55.57].

Today's trading tips for oil:

Buy in Intermediary Zone [56.92 – 56.81]. TakeProfit: 57.95. StopLoss: at Stop Zone [56.36 – 56.30].


XAUUSD

Gold continues trading in the middle-term accumulation zone. I recommend positional traders to consider trades from the range borders.

The local short-term gold trend is downward. On Friday, the key support [1276.0 – 1274.7] was outbroken. This is proved by the futures chart. Because of this, a new target appears, lower Target Zone [1263.7 – 1261.3].

I recommend considering sells only according to a reliable signal. The key resistance is Intermediary Zone [1286.7 – 1285.5]. We look for short trades in the range between the outbroken IZ and the new correctional one.

Buying XAUUSD will be available if the key resistance is outbroken and the price is closed above. This will wean technical flat end and the priority will change to buys up to upper TZ [1300.2 – 1297.7].

Today's trading tips for gold:

Buy along the pattern in [1274.7 – 1286.7]. Take Profit: Target Zone [1263.7 – 1261.3]. StopLoss: according to the pattern trading.


XAGUSD

Silver price started to go down after unsuccessful attempts to outbreak the middle-term resistance, Target Zone [17.22 – 17.17]. The middle-term sell target is level 16.61 and Target Zone 2 [16.26 – 16.20].

In the shorter timeframe, we also can distinct the local downtrend. The first sell target was reached, November 7th’s low was renewed, so a part of sells can be closed at the current prices. I recommend shifting the other part to breakeven and hold on up to the target in Target Zone [16.65 – 16.59].

As the local low was renewed, we rearrange the key resistance. At the moment, it has the borders at [17.09 – 17.06]. When it is reached, we will look for purchases again.

Buying silver will be available if bulls close at least one American session above level 17.09. If so, the short-term priority will change to buys and the target will be Target Zone [17.42 – 17.36].

Today's trading tips for silver:

  1. Don’t close sells in Intermediary Zone [17.20 – 17.17]. TakeProfit: Target Zone [16.65 – 16.59]. StopLoss: at breakeven.
  2. Sell in Intermediary Zone [17.09 – 17.06]. TakeProfit: Target Zone [16.65 – 16.59]. StopLoss: 17.18.

 

 

IZ - Intermediary Zone: responsible for changing the priority direction of the price movement.

TZ - Target Zone: a zone that, with a probability of 75%, will be reached after the breakdown of the IZ.

GZ - Gold Zone: zone in the medium-term impulse.

SZ - Stop Zone: point of Stop Loss setting, selected statistically.

All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.

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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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