WTI

The descending momentum for oil has continued after a long gathering of positions. Yesterday, the first target was reached - 48.44. The main target of the downward movement is the Target Zone [47.93 - 47.68], we talked about it all past and current week.

For today we have a new key resistance - the Intermediary Zone [49.56 - 49.44], which we build up from the current extremum to 137p. Upon its achievement, we add to the sales, if the market gives us this opportunity.

Buying oil will be possible in case of breakout of the IZ up, which is still considered in the long term. Then the target for purchases will be the new TZ [50.94 - 50.69].

Trading recommendations for WTI, GOLD, SILVER for 11.08.2017

Trading recommendations for today:

  1. Sell from zone [48.87 – 48.81]. TakeProfit 47.97. StopLoss 49.12 + spread.
  2. Sell from zone [49.56 – 49.44]. TakeProfit 47.97. StopLoss 50.06 + spread.

GOLD

For gold, all targets were taken. At the moment, the precious metal is trading in the zone of ​​key resistance at the Target Zone 2 [1287.6 - 1283.7]. The local trend is an upward one, however, for further purchases with new targets, we need a breakout and a close above the TZ 2. If this happens, the next level in the uptrend will be the Gold Zone 2 [1305.4 - 1303.4].

Next week for XAUUSD, new margin requirements will apply, and the range between margin zones will become wider. On Monday, this will be reported additionally.

Selling gold on a trend can be considered only after the breakout and closing below the Intermediary Zone [1269.0 - 1267.0]. In this case, the target is the lower TZ.

Trading recommendations for WTI, GOLD, SILVER for 11.08.2017

Trading recommendations for today:

  1. Buy from zone [1278.9 – 1277.9]. TakeProfit 1287.7. StopLoss 1273.9.
  2. Buy from zone [1269.0 – 1267.0]. TakeProfit 1287.7. StopLoss 1259.1.

SILVER

Silver has reached the Target Zone [17.20 - 17.10] without correction and closed below. The uptrend continues, but for further purchases, America needs to close above the TZ. Otherwise, if the resistance stands, we can expect a correction, and this, in turn, will allow us to look for purchases at favorable prices.

The key support for the local uptrend is the Intermediary Zone [16.72 - 16.67]. Upon its achievement, first of all we consider the buy with targets at the TZ + the update of yesterday's high.

An alternative option with the sale of the instrument will be useful if the price closes below the IZ. Then we will turn around and sell to the bottom TZ [16.22 - 16.12].​

Trading recommendations for WTI, GOLD, SILVER for 11.08.2017

ТTrading recommendations for today:

  1. Buy from zone [16.97 – 16.95]. TakeProfit 17.20. StopLoss 16.83.
  2. Buy from zone [16.72 – 16.67]. TakeProfit 17.20. StopLoss 16.47.

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

Trading recommendations for WTI, GOLD, SILVER for 11.08.2017

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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