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Fractal analysis on Gold, Silver, and Oil for October 19

Analytical review on Gold, Silver, and oil

According to Silver, we expect further development of the upward trend from October 11 after the breakdown of 14.73. At the moment, the price is in the zone of initial conditions. According to Gold, we are following the development of the ascending structure of September 28 and we expect further uptrend after the breakdown of 1228.50. According to oil, we continue to monitor the downward structure of October 3 and the subsequent movement downwards is expected after the passage by the price of the range of 68.66 - 68.22.

Forecast for October 18:

H1-scale analytical review:

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According to Silver, the main key levels on the H1 scale are: 15.13, 14.98, 14.88, 14.73, 14.58, 14.49, 14.43 and 14.34. Here, we continue to monitor the ascending structure of October 11. The continuation of the movement upward is expected after the breakdown of 14.73. In this case, the target is 14.88 and the breakdown of which will allow us to count on the movement towards 14.98, consolidation is near this level. The potential value for the top is considered the level of 15.13, upon reaching which we expect a rollback to the top.

The short-term downward movement is possible in the range of 14.58 - 14.49 and the range of 14.49 - 14.43 is the key support for the top. Its price will lead to the formation of the initial conditions for the downward cycle. In this case, the goal is 14.34.

The main trend is the rising structure of October 11, the zone of initial conditions.

Trading recommendations:

Buy: 14.74 Take profit: 14.87

Buy: 14.89 Take profit: 14.97

Sell: 14.42 Take profit: 14.36

Sell: 14.34 Take profit: 14.22

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According to Gold, the main key levels on the H1 scale are: 1245.82, 1235.96, 1228.48, 1224.37, 1213.81, 1208.96 and 1201.07. Here, we are following the development of the ascending cycle of September 28. The movement upwards is expected after the price passes the range of 1224.37 - 1228.48. In this case, the target is 1235.96, consolidation is near this level. The potential value for the top is considered the level of 1245.82, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1213.81 - 1208.96 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1201.07.

The main trend is the upward cycle of September 28.

Trading recommendations:

Buy: 1228.50 Take profit: 1235.00

Buy: 1237.00 Take profit: 1245.00

Sell: 1213.50 Take profit: 1209.50

Sell: 1208.00 Take profit: 1202.00

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According to #Cl, the main key levels on the H1 scale are: 71.84, 71.16, 70.23, 69.52, 68.66, 68.22, 67.13 and 65.90. Here, we are following the downward structure of October 3rd. A downward movement is expected after the price passes the range of 68.66 - 68.22. In this case, the target is 67.13. We consider the potential level for the bottom to be 65.90, upon reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 69.52 - 70.23 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 71.16 and the range of 71.16 - 71.84 is the key support for the downward trend. We expect the initial conditions for the upward cycle to reach it.

The main trend is the downward structure of October 3.

The tool serves to determine the key trend. Its confirmation or cancellation by GOLD. Often has the opposite correlation with GOLD.

The material has been provided by InstaForex Company - www.instaforex.com