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17.04.2020 09:39 AM
Fractal analysis of Gold, Silver, Oil on April 17
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Forecast for April 17:

Analytical review in H1 scale:

This image is no longer relevant

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. At the moment, the price is in the correction zone. 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. FFor 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

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For Oil, the main key levels on the H1 scale are: 22.32, 20.72, 19.80, 17.35, 15.86, 13.67 and 12.38. Here, we are following the development of the descending structure of April 9. At the moment, we expect to reach the level of 17.35. A short-term downward movement, as well as consolidation is in the range of 17.35 - 15.86. Breaking through the level of 15.86 will lead to a pronounced downward movement. Here, the target is 13.67. For the potential value for the bottom, we consider the level of 12.38. Upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 19.80 - 20.72. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 22.32. 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: 19.80 Take profit: 20.80

Buy: 20.80 Take profit: 22.00

Sell: 17.30 Take profit: 16.00

Sell: 15.70 Take profit: 14.00

This image is no longer relevant

For Silver, the main key levels at the H1 scale are: 16.11, 15.79, 15.58, 15.38, 15.26, 15.00, 14.78, 14.64 and 14.42. Here, the price has formed a small potential for the downward movement of April 14. The continuation of the downward movement is expected after the breakdown of the level of 15.00. In this case, the target is 14.78. A short-term downward movement, as well as consolidation is in the range of 14.78 - 14.64 . For the potential value for the bottom, we consider the level of 14.42. Upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 15.26 - 15.38. The breakdown of the last value will lead to an in-depth correction. Here, the target is 15.58. This level is a key support for the downward structure, after the price passes this level, it will lead to the subsequent development of the upward trend. Here, the first goal is 15.79.

The main trend is the formation of potential for the downward movement of April 14.

Trading recommendations:

Buy: 15.26 Take profit: 15.37

Buy: 15.40 Take profit: 15.56

Sell: 15.00 Take profit: 14.80

Sell: 15.77 Take profit: 14.65

Daichi Takahashi,
Analytical expert of InstaForex
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