16.10.201816:07 Forex-elemzések és áttekintések: Fractal analysis of Gold, Silver, and Oil on October 16

Analytical review of Gold, Silver, and oil. According to Silver, we expect further development of the upward trend from October 11 after the breakdown of 14.73. According to Gold, we follow the development of the rising structure of September 28. For oil, we mainly expect movement in correction from the downward structure on October 3.

Forecast for October 16:

Analytical review on the scale of H1:

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 are following 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.We expect a departure in the correction after the breakdown of 14.58. In this case, the target is 14.49 and the range of 14.49 - 14.43 is the key support for the top. Its price will have to form the initial conditions for the downward cycle. In this case, the target is 14.34.The main trend is the upward structure of October 11.Trading recommendations:Buy: 14.74 Take profit: 14.87Buy: 14.89 Take profit: 14.97Sell: 14.58 Take profit: 14.50Sell: 14.42 Take profit: 14.36

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: 1235.00Buy: 1237.00 Take profit: 1245.00Sell: 1213.50 Take profit: 1209.50Sell: 1208.00 Take profit: 1202.00

According to oil, the main key levels on the H1 scale 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 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.