Breaking News
0

WTI, XAU/USD, XAG/USD Technicals: 09.13.2018

By LiteForexMarket OverviewSep 13, 2018 09:00AM ET
www.investing.com/analysis/wti-xauusd-xagusd-analysis-for-13092018-200343704
WTI, XAU/USD, XAG/USD Technicals: 09.13.2018
By LiteForex   |  Sep 13, 2018 09:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

WTI

Oil price reached the strong middle-term resistance Target Zone [70.76 – 70.45] 2 yesterday. As the zone hasn’t been broken out, the oil price is not likely to reach TZ 3 [73.86 – 73.55]. The middle-term trend is, however, upward and the last week’s local high is likely to be renewed.

4-Hour Crude Oil
4-Hour Crude Oil

The local trend is also upward. Oil traders tried to break out Target Zone [70.13 – 69.82], but the US session has closed inside the zone today. The resistance has been held, so, oil price may corrected towards the key support to the trend at [69.38 – 69.23].

After the support is reached, look for buys according to the pattern with the target to break thorough yesterday’s high and reach Gold Zone [71.52 – 71.37].

If IZ is broken out, the trend will reverse downwards, and we shall look for oil sales tomorrow.

60-Minute Crude Oil
60-Minute Crude Oil

XAU/USD Trading Tips

Buy according to the pattern in Intermediary Zone [69.38 – 69.23]. Take Profit: 70.90, Gold Zone [71.52 – 71.37]. Stop Loss: according to the pattern rules.XAU/USD

Gold buyer had been accumulating positions, and started buying in the trend yesterday. The buy target is Target Zone 2 [1225.3 – 1222.2]. I recommend looking for the entry point in the shorter timeframes.

4-Hour XAU/USD
4-Hour XAU/USD

Let’s analyze the shorter timeframe.

Intermediary Zone [1204.8 – 1203.2] was broken out yesterday. The local trend reversed upwards. Today, we shall look for XAU/USD purchases with the a target in Target Zone [1221.8 – 1218.7].

I recommend buying on the correction, in Additional Zone [1200.7 – 1200.0], with a stop beyond the zone at 1196.9. The first take profit is at the high renewal.

The second zone to look for buys is Intermediary Zone [1193.0 – 1191.4]. Look for trades according to the pattern there.

60-Minute XAU/USD
60-Minute XAU/USD

XAU/USD Тrading Tips

  1. Buy in Additional Zone [1200.7 – 1200.0]. Take Profit: 1208.2, Target Zone [1228 – 1218.7]. Stop Loss: 1196.9.
  2. Buy according to the pattern in Intermediary Zone [1193.0 – 1191.4]. Take Profit: 1208.2, Target Zone [1221.8 – 1218.7]. Stop Loss: according to the pattern rules.

XAG/USD

Silver price is being corrected slowly in the downtrend. If silver price reaches the key resistance [14.68 – 14.61], we shall look for purchases.

4-Hour XAG/USD
4-Hour XAG/USD

The short-term trend is downward. The silver price is approaching the key resistance [14.29 – 14.25]. It is still too early to sell in the zone, you’d better a technical pattern. If there is one, look for sells with the target to renew the low of September 11 and reach Gold Zone [13.87 – 13.83].

If Intermediary Zone is broken out from below with a consolidation, the trend will reverse upwards, and we shall start buying silver up to the upper Target Zone [14.68 – 14.61].

60-Minute XAG/USD
60-Minute XAG/USD

XAG/USD Trading Tips

Sell according to the pattern in Intermediary Zone [14.29 – 14.25]. Take Profit: Gold Zone [13.87 – 13.83]. Stop Loss: 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.

WTI, XAU/USD, XAG/USD Technicals: 09.13.2018
 
WTI, XAU/USD, XAG/USD Technicals: 09.13.2018

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email