2020-08-31 2017-12-04 Analysis for oil, gold and silver for 04.12.2017 Alex Rodionov 2020-08-312017-12-04

WTI

According to margin zones and technical analysis, oil is trading in the middle-term uptrend. Target Zone [57.54 – 57.31] was outbroken, which set bulls a new target in Target Zone 2 [59.79 – 59.56].

Last week oil was trading in the zone of good buy prices and had grown up in price by the end of the week. We a waiting for the middle-term target to be reached.

In the shorter timeframe, according to smaller margin zone analysis, oil is trading in the short-term uptrend. Intermediary Zone [57.99 – 57.87] was outbroken on Friday, American session closed above.

Buy target is Target Zone [59.23 – 59.00]. I recommend looking for buys in zone between the outbroken IZ and the new correctional one [57.99 – 57.62].

Sells won’t be beneficial unless traders outbreak the key support and close the price below. If so, the target will be lower Target Zone [56.60 – 56.38].

Today’s trading tips for oil:

Buy in zone [57.99 – 57.62]. TakeProfit: Target Zone [59.23 – 59.00]. StopLoss: 57.26.

XAUUSD

Gold price is approaching the flat range lower border, the strong middle-term support, Target Zone 2 [1263.3 – 1258.4]. The future of gold middle-term downtrend will be determined in the zone. If TZ2 is outbroken, then the quotes can go down to TZ 3.

The local short-term trend for gold is also downwards. After the exit from the price channel, Target Zone [1274.5 – 1272.0] was tested. Then, after the correction to the key resistance and the lower border of the former channel (now it the resistance), sell position were gathered. Today there was opening with the gap in the zone of the support, Target Zone [1274.5 – 1272.0].

Sell target was reached, but the local low, 1270.1, is expected to be renewed. After that, the price can be closed below TZ, which will set bears a new target, Gold Zone [1262.2 – 1261.0].

Alternative variant is holding the midlle-term support and the quotes growth up to the key resistance zone. If so, the resistance can be outbroken and we will buy the metal up to upper Target Zone [1297.1 – 1294.6].

Today’s trading tips for gold:

Wait until November 30th’s low is renewed, rearrange the key resistance and look for sells.

XAGUSD

Silver quotes continue falling within the middle-term downtrend. Main decreasing target is Target Zone 2 [16.18 – 16.12].

The key resistance zone, [16.54 – 16.51], was tested within the local downtrend on Friday. American session closed below, silver is falling now. Main sell target is Target Zone 2 [16.18 – 16.12]. I recommend closing most of short positions in this price zone.

Alternative variant is buying XAGUSD with target in upper Target Zone [16.86 – 16.81], it will be available in case bulls outbreak the key resistance.

Today’s trading tips for silver:

Don’t close sells in Intermediary Zone [16.54 – 16.51]. TakeProfit: Target Zone 2 [16.18 – 16.12]. StopLoss: 16.60.

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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