16.04.202008:40 Forex-elemzések és áttekintések: Fractal analysis of Gold, Silver, Oil on April 16

Forecast for April 16:

Analytical review in H1 scale:

For Gold, the main key levels on the H1 scale are: 1764.03, 1744.86, 1726.71, 1703.84, 1686.07, 1669.39 and 1658.61. Here, we are following the development of the local ascending structure of March 31. The continuation of the upward movement is expected after breaking through the level of 1726.71. In this case, the target is 1744.86. Price consolidation is near this level. For the potential value for the top, we consider the level of 1764.03. Upon reaching this level, we expect a downward pullback.

A short-term downward movement is possible in the range of 1703.84 - 1686.07. Breaking through the last level will lead to an in-depth correction. Here, the target is 1669.39. The range between 1669.39 - 1658.61 is the key support for the entire upward trend.

The main trend is the local structure for the top of March 31.

Trading recommendations:

Buy: 1727.00 Take profit: 1744.00

Buy: 1746.00 Take profit: 1764.00

Sell: 1703.00 Take profit: 1787.00

Sell: 1784.00 Take profit: 1670.00

For Oil, the main key levels on the H1 scale are: 23.88, 22.32, 21.30, 19.62, 17.35 and 15.86. Here, we are following the development of the descending structure of April 9. The continuation of the downward movement is expected after breaking through the level of 19.62. In this case, the goal is 17.35. For the potential value for the bottom, we consider the level of 15.86. Upon reaching this level, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range between 21.30 - 22.32. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 23.88. This level is the key support for the descending structure of April 9.

The main trend is the descending structure of April 9.

Trading recommendations:

Buy: 21.30 Take profit: 22.30

Buy: 22.40 Take profit: 23.70

Sell: 19.60 Take profit: 17.50

Sell: 17.30 Take profit: 16.00

For Silver, the main key levels on the H1 scale are: 16.40, 16.11, 15.76, 15.59, 15.31, 15.08 and 14.81. Here, we are following the development of the local ascendant structure from April 1. The continuation of the upward movement is expected after the price passes the noise range 15.59 - 15.76. In this case, the target is 16.11. For the potential value for the top, we consider the level of 16.40. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range between 15.31 - 15.08. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 14.81. This level is a key support for the top.

The main trend is the local structure for the top of April 1.

Trading recommendations:

Buy: 15.77 Take profit: 16.10

Buy: 16.13 Take profit: 16.40

Sell: 15.31 Take profit: 15.10

Sell: 15.06 Take profit: 14.81