2019-12-20 2017-11-28 Analysis for oil, gold and silver for 28.11.2017 Alex Rodionov 2019-12-202017-11-28

WTI

Oil develops the middle-term uptrend. The outbroken Target Zone [57.54 – 57.31] was tested yesterday. The zone is the strong support, so the price can grow there. Buy target is Target Zone 2 [59.79 – 59.56].

Let’s detail the situation in the shorter timeframe. On Monday, oil quotes started to be corrected and the key support, Intermediary Zone [57.79 – 57.68], was tested. The American session closed the price in the zone, that means, the uptrend continues.

For today, I recommend looking for buys from the key support with the target of the local high renewal and reaching Target Zone 2 [59.79 – 59.56].

We will sell oil in case the price outbreaks IZ and was closed below at the American session today or tomorrow.

Today's trading tips for oil:

Buy in Intermediary Zone [57.79 – 57.68]. TakeProfit: Target Zone 2 [59.79 – 59.56]. StopLoss: 57.24.

XAUUSD

Gold is slowly approaching the middle-term key resistance, Target Zone [1314.3 – 1309.4]. There the future of the quotes will be determined.

In the shorter timeframe, the instrument is trading in the ascending price channel. We trade classically, from the channel borders.

According to smaller margin zones, the target within the local uptrend, Target Zone [1301.3 – 1298.8], was reached yesterday.

Now we observe a slight correction. In case of the correction to the key support, I recommend looking for buys. Buy target is the local high renewal.

Selling will be available, if bears outbreak the key support, close the price below and draw the price down below the channel support line. In this case, the target will be lower Target Zone [1274.5 – 1272.0].

Today's trading tips for gold:

Buy in Intermediary Zone [1286.7 – 1285.5]. TakeProfit: 1299.0. StopLoss: 1283.0.

XAGUSD

In the longer timeframe, silver trend remains unchanged. The trend is upward, buy target is Target Zone 2 [17.81 – 17.76]. Trading is inside the channel.

Silver trend remains unchanged in the long timeframe, the trend is upward, buy target is Target Zone 2 [17.81 – 17.76]. The trading is inside the channel.

In the shorter timeframe, we see the local downtrend continue for a while, will it last for long? The price has been testing the key resistance for four days, but hasn’t outbroken it. The new local high was formed yesterday.

For buys, I recommend waiting until Intermediary Zone [17.14 – 17.11] outbreak and consolidation below, and after that buy out the metal up to upper Target Zone [17.46 – 17.41].

Today's trading tips for silver:

Don’t open any positions.

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.

P.S. Did you like my article? Share it in social networks: it will be the best “thank you" :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.

Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.

Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience

Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.