Trading recommendations for WTI, GOLD, SILVER for 6.09.2017
WTI Yesterday oil broke down middle- term marginal zone, thus changing the middle-term trend to an upward one. In the coming weeks the target is the next zone with borders [50.85 – 50.61]. For detailing the entering point and intraday trading let’s move to a shorter time frame. Short-term local trend is upward as well. As for the zones of short period of time buy target is Gold Zone [49.53 – 49.41]. I recommend considering purchases at the corrections to the shorter time frames. The key support in the local uptrend is Intermediary Zone [47.99 – 47.87]. Having reached it, look for purchases with the intermediate target of the renewal of yesterday’s high at level 49.15. Alternative option for selling oil will be available if traders break down the key support and close the price below level 47.87. If so, the short-term trend will change to the downward one and we will sell the instrument up to lower Target Zone [46.79 – 46.55].
Trading recommendations for today: Buy from Intermediary Zone [47.99 – 47.87]. TakeProfit: Gold Zone [49.53 – 49.41]. StopLoss: на Stop Zone [47.39 – 47.33].
GOLD Gold continues middle-term dynamics. Yesterday the strong marginal support zone was broken through. In the coming weeks, the next target is Target Zone 4 [1372.9 – 1368.7]. For detailing the entering point let’s look at shorter time frames. Yesterday the recommendation to buy gold from Additional Zone with intermediate profit fixing at Monday’s high was implemented. I recommend to transfer other part of buys to breakeven and retain the positions up to the target, Gold Zone 3 [1349.6 – 1347.4]. The key support of the local uptrend is Intermediary Zone 1322.8 – 1320.7]. After reaching it look for purchases up to Gold Zone 3. Selling of gold will be available in case of IZ outbreak. Then the short-term trend will change and we will sell the instrument up to lower TZ [1301.6 - 1297.3]
Trading tips for today: Buy from Intermediary Zone [1322.8 – 1320.7]. TakeProfit: Gold Zone 3 [1349.6 – 1347.4]. StopLoss: на Stop Zone [1312.2 – 1311.2].
SILVER Analyzing middle-term marginal zones we conclude that the trend in such a scale is a middle-term upward one. Target Zone was broken through and now the target is Target Zone 2 [18.66 – 18.45]. Reaching TZ 2 can take several weeks. For intraday trading lets turn to the shorter time frames. Here we see the local uptrend. Yesterday Target Zone [17.74 – 17.63] was broken through. The next buy target is Gold Zone [18.23 – 18.17]. I recommend to look for purchases in the key support Intermediary Zone [17.44 – 17.39] test.Selling silver will be available if at least one American trading session closes below IZ. In this case we can predict price decrease into the area of TZ [16.90 – 16.79].
Trading tips for today: Buy from Intermediary Zone [17.44 – 17.39]. TakeProfit: Gold Zone [18.23 – 18.17]. StopLoss: на Stop Zone [17.17 – 17.14].
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.