Gold is again trading in the zone of good buy prices. I suggest looking for a buy signal and opening purchases
WTI
Oil is trading between the key support to the trend at [68.05 – 67.74] and Target Zone 2 [70.76 – 70.45]. The middle-term trend is upward.
Let’s see the local trend.
The sort-term oil trend is still downward. Oil traders were testing Intermediary Zone [69.50 – 69.34] on Friday but couldn’t break out the zone.
For today, I suggest you look for new sells according to the pattern with a target to renew the Friday’s low. We won’t buy until the U.S. session closes above 69.50.
WTI trading tips for today:
Sell according to the pattern in Additional Zone [69.50 – 69.34]. TakeProfit: Target Zone [67.83 – 67.52]. StopLoss: according to the pattern rules.
XAUUSD
Gold is again trading in the zone of good buy prices. I suggest you go on looking for a buy signal to go long.
The key support to the local uptrend at [1197.2 – 1195.6] was tested on Firday. THE zone was broken out, and so, the local trend reversed downwards.
For today, it is relevant to look for gold sales with a target in Target Zone [1181.7 – 1178.6]. Look for sell positions in either Additional Zone [1201.3 – 1200.5] or in Intermediary Zone [1209.8 – 1208.3].
XAUUSD trading tips for today:
- Sell according to the pattern in Additional Zone [1203 – 1200.5]. TakeProfit: 1193.1, Target Zone [1187 – 1178.6]. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone [1209.8 – 1208.3]. TakeProfit: 1193.1, Target Zone [1181.7 – 1178.6]. StopLoss: according to the pattern rules.
XAGUSD
Silver price is drawing a buy pattern in the longer timeframe. The middle-term silver trend is still downward, according to margin zones. In this situation, I suggest expecting the test of the key resistance [14.68 – 14.61] and looking for sales.
Let’s analyze the shorter timeframe.
Silver is trading in the short-term downtrend, whose target is to renew the September’s low and reach Gold Zone [13.87 – 13.83]. There is a sell pattern, so you can use it if you don’t yet have sell positions opened.
Buying won’t be relevant, until the silver buyers break out the key resistance IZ [14.29 – 14.25] and consolidate silver price above. If so, the trend will reverse upwards and the target will be Target Zone [14.68 – 14.61].
XAGUSD trading tips for today:
Sell according to the pattern in Intermediary Zone [14.29 – 14.25]. TakeProfit: Gold Zone [13.87 – 13.83]. 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.