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16.10.2018 12:44 PM
Fractal analysis of Gold, Silver, and Oil for October 15
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Analytical review of Gold, Silver, and Oil

According to Silver, the price forms a pronounced potential for the top of October 11 and the development of which is expected after the breakdown of 14.73. According to Gold, the medium-term cycle dated September 28 was taken as the definition of subsequent targets for the upward trend. For Oil, we mainly expect movement in the correction from the downward structure on October 3.

Forecast for October 15:

Analytical review on the scale of H1:

This image is no longer relevant

According to Silver, the main key levels on the scale of H1 are: 14.98, 14.88, 14.73, 14.64, 14.49, 14.43 and 14.35. Here, we are following the formation of the upward potential from October 11. The upward movement is expected after the breakdown of 14.64. In this case, the target is 14.73 and the breakdown of which must be accompanied by a pronounced upward movement. Here, the target is 14.88. The potential value for the top is considered the level of 14.98, after reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 14.49 - 14.43 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 14.35.

The main trend is the formation of upward potential from October 11.

Trading recommendations:

Buy: 14.64 Take profit: 14.72

Buy: 14.74 Take profit: 14.86

Sell: 14.49 Take profit: 14.43

Sell: 14.42Take profit: 14.36

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According to Gold, the main key levels on the scale of H1 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 short-term upward movement is possible in the range of 1224.37 - 1228.48 and the breakdown of the latter value will lead to the movement to the level of 1235.96, the 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

This image is no longer relevant

According to Oil, the main key levels on the scale of H1 are: 74.06, 73.02, 72.48, 70.86, 70.10, 69.52 and 68.22. Here, we are following the downward structure of October 3. At the moment, the price is in the correction area. The downward movement is possible after a breakdown of 70.86. Here, the target is 70.10 and in the range of 70.10 - 69.52 is the consolidation and hence the likelihood of a movement upwards is high. The potential value for the bottom is considered the level of 68.22, after reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 72.48 - 73.02 and the breakdown of the last value will lead to the formation of the initial conditions for the upward cycle. Here, the target is 74.06.

The main trend is the downward structure of October 3, the stage of correction.

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

Daichi Takahashi,
Analytical expert of InstaForex
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