2019-12-20 2017-12-08 Analysis for oil, gold and silver for 08.12.2017 Alex Rodionov 2019-12-202017-12-08

WTI

Oil is trading in the middle-term downtrend. Now the price is testing the strong resistance zone, [56.82 – 56.61]. It is the first zone to look for favorable sells. The second one is the key resistance, Target Zone [58.14 – 57.93].

The local short-term trend is downward as well. In case of IZ test, look for sells with the target of the local low renewal and reaching Gold Zone [55.70 – 55.60].

If Intermediary Zone is outbroken, then the quotes are likely to rise up to Target Zone [58.14 – 57.93]. So we will buy WTI.

Today’s trading tips for oil:

Sell in Intermediary Zone [56.99 – 56.88]. TakeProfit: Gold Zone [55.70 – 55.60]. StopLoss: 57.30.

XAUUSD

Yesterday, the strong support Target Zone 2 [1263.3 – 1258.4] was outbroken. That sets bears the next target, Target Zone 3 [1214.3 – 1209.4]. Look for middle-term sells down to the zone.

In the shorter timeframe, the trend is also downward. Yesterday, TZ [1250.0 – 1247.5] was outbroken, so the next sell target is Gold Zone 2 [1237.7 – 1236.5].

I recommend looking for sells up to the key resistance, which is Intermediary Zone [1257.2 – 1256.0]. Partial fixing is, as usual, at the local low.

We will buy the precious metal, if the key resistance is outbroken and the price is consolidated above at the American session. In this case the trend will reverse upwards , and the target will be upper Target Zone [1270.7 – 1268.2].

Today’s trading tips for gold:

Sell in Intermediary Zone [1257.2 – 1256.0]. TakeProfit: Gold Zone [1237.7 – 1236.5]. StopLoss: 1261.7.

XAGUSD

Silver is trading in the middle-term downtrend. After Target Zone 2 [16.18 – 16.12] was outbroken, sellers have a new target, Target Zone 3 [15.59 – 15.53], which was almost reached during yesterday.

The short-term trend is downwards. Gold Zone 2 [15.88 – 15.85] outbreak also indicates the target in TZ 3 [15.59 – 15.53]. I recommend looking for sells from the key resistance Intermediary Zone [15.94 – 15.91].

In case it is outbroken, we will implement alternative scenario and buy silver up to upper Target Zone [16.27 – 16.21].

Today’s trading tips for silver:

Sell in Intermediary Zone [15.94 – 15.91]. TakeProfit: Target Zone 3 [15.59 – 15.53]. StopLoss: 16.06.

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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