2019-12-20 2017-11-16 Analysis for oil, gold and silver for 16.11.2017 Alex Rodionov 2019-12-202017-11-16

WTI

Oil is trading in the middle-term downtrend. Sell target is Target Zone 2 [53.55 – 53.32]. Now traders are testing the outbroken TZ, which is the strong resistance.

Let’s detail the situation in the shorter timeframe. The short-term trend is also downward. Yesterday, at American trading session the quotes started to be corrected to the recent descending. The key resistance, Intermediary Zone [56.30 – 56.19], can be tested.

When IZ is tested, I recommend primarily looking for WTI sales, as there is an unreached goal, Gold Zone [54.67 – 54.56], below.

Alternative scenario is the short-term reversal and a stronger middle-term correction. In this case, traders need to consolidate above level 56.30. Then, the target will be upper TZ with borders at [57.54 – 57.31].

Today's trading tips for oil:

Sell in Intermediary Zone [56.30 – 56.19]. TakeProfit: Gold Zone [54.67 – 54.56]. StopLoss: at Stop Zone [56.80 – 56.75].

XAUUSD

Gold continues to form accumulation in the longer timeframe.

In the timeframe with additional shorter zones, we see the short-term downtrend, although the local high was renewed yesterday.

The situation contradicts technical analysis, as there is a buy pattern in the chart.

For those, who trade conservatively, this is not the best trading situation. I recommend suspending trading for a while, until the flat ends; at least any Target Zone should be reached.

For aggressive traders, who combine trading with trading flat rules, there was an opportunity to open a sell position from the range border. So, for today I recommend to sell or not to close sells with a fast shift to break even and the target in lower Target Zone [1263.7 – 1261.3].

Today's trading tips for gold:

Aggressively:: sell in Intermediary Zone [1283.2 – 1282.0]. Take Profit: Target Zone [1263.7 – 1261.3]. StopLoss: 1284.0.

XAGUSD

For silver, the middle-term dynamics is descending. Short trades targets are level 16.61 and Target Zone 2 [16.26 – 16.20]. Yesterday there was another key resistance test.

The short-term trend also remains downward. During yesterday, the key resistance zone, Intermediary Zone [17.09 – 17.06], was tested. American session closed the price below.

For today, I recommend looking for silver sales with the target in Target Zone [16.65 – 16.59]. For selling, false outbreak pattern can be traded with a short stop.

It should be noted, that silver situation resemble that of gold. Both metals are trading flat, so, for intermediate fixing I recommend the lower border of range ~ 16.79.

Alternative option for buying won’t be available until American session closes the price above level 17.09.

Today's trading tips for silver:

Aggressively: sell in Intermediary Zone [17.09 – 17.06]. TakeProfit: Target Zone [16.65 – 16.59]. StopLoss: 17.19.

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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