2019-12-20 2017-12-01 Analysis for oil, gold and silver for 01.12.2017 Alex Rodionov 2019-12-202017-12-01

WTI

Oil continues trading in the local uptrend. At the moment the quotes are in the zone of good buy prices [57.54 – 56.44] in the chart. The upward target is Target Zone 2 [59.79 – 59.56].

In the shorter timeframe, oil is trading in the downtrend. This is indicated by additional margin zones. Yesterday, the key resistance was tested, that caused the quotes decrease and an attempt to renew November 29’s low, but it wasn't successful. As a result, by the end of the American trading session, the prices had regained a half of the decrease. For today, it is still relevant to sell WTI with the target of the local low renewal.

We will look for buys, when the local short-term trend reverses upwards. It won’t happen, until the consolidation above Intermediary Zone [57.99 – 57.87]. If so, we will buy the instrument, and the target will be upper Target Zone [59.23 – 59.00].

Today's trading tips for oil:

Sell in Intermediary Zone [57.99 – 57.87]. TakeProfit: Target Zone [56.67 – 56.44]. StopLoss: at breakeven.

XAUUSD

Gold price is approaching the lower border of the flat range, the short-term strong support, Target Zone 2 [1263.3 – 1258.4]. The instrument was bought out in the zone a few times previously. So, if anyone holds on the middle-tern sell positions, I recommend closing most of them in this price zone.

In the shorter timeframe, the downtrend is also developing. Yesterday, the priority upward model, IZ – TZ, was worked out. The American session closed the price in the support zone.

Besides, we can observe the price leave the channel downwards, and Intermediary Zone [1283.6 – 1282.4] is close to the previous price support level now. It has become the resistance.

I recommend looking for sells in IZ further in the trend. Sell target will be the local extreme in Target Zone [1274.5 – 1272.0] renewal.I recommend looking for sells in IZ further in the trend. Sell target will be the local extreme in Target Zone [1274.5 – 1272.0] renewal.

We will buy the instrument, when bull close the American session above the key resistance. In this case, the buy target will be upper Target Zone [1297.1 – 1294.6].

Today's trading tips for gold:

Sell in Intermediary Zone [1283.6 – 1282.4]. TakeProfit: Target Zone [1274.5 – 1272.0]. SL: 1287.0.

XAGUSD

Silver quotes have reached the first target within the middle-term downtrend, October 6’s low has been renewed. The main decreasing target is Target Zone 2 [16.18 – 16.12].

Within the short-term local downtrend, a pulse movement started, which enabled bears to close the price below Gold Zone [16.47 – 16.44]. The next target is Target Zone 2 [16.18 – 16.12]. It can be reached both from the current levels, and through the correction to the key resistance, Intermediary Zone [16.61 – 16.58].

When the resistance is reached, primarily look for sells in the trend, a the price can be partially fixed at yesterday’s low.

If IZ is outbroken, the local trend will reverse upwards. In this case, the target will be upper Target Zone [16.94 – 16.88], and we will look for purchases.

Today's trading tips for silver:

Sell in Intermediary Zone [16.61 – 16.58]. TakeProfit: Target Zone 2 [16.18 – 16.12]. StopLoss: 16.71.

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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