Gold: we can expect the continuation of the uptrend after the price breaks through the level of 1726.71 where the level of 1686.07 serves as the key support. As for oil, we are following the development of the downward movement which started on April 9. Here, the level of 19.60 is a key resistance level while the level of 22.32 serves as key support. Silver: the price is going through a correction. Further uptrend is possible after the price passes the range of 15.59 - 15.76, with 15.08 being a key level of support.
Forecast for April 15:
Analytical review on H1 scale:
Gold: the main key levels for gold on the H1 scale are: 1764.03, 1744.86, 1726.71, 1703.84, 1686.07, 1669.39, and 1658.61. Here we follow the formation of the rising pattern which started on March 31. We can expect the continuation of the uptrend after the price breaks through the level of 1726.71 In this case, the target is at 1744.86, and consolidation is possible near this level. The upward target is seen at the level of 1764.03. Upon reaching this level, the price is likely to pull back and move downwards.
A short-term downward movement is seen in the range between 1703.84 - 1686.07. A breakthrough of the 1686.07 level will lead to a deep correction with the target at 1669.39. The range of 1669.39 - 1658.61 serves as a key support for the entire upward trend.
The main trend is the local high structure set on 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 follow the development of the descending structure which started to form on April 9. We can expect the continuation of the uptrend after the price breaks through the level of 19.62. In this case, the target is seen at 17.35. A possible downward target lies at the level of 15.86. Consolidation is expected after reaching this level. A pullback to the upside is also possible.
A short-term upward movement is possible in the range between 21.30 - 22.32. The breakthrough of the 22.32 level will lead to a deep correction with the target at 23.88 which serves as 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
Silver: the main key levels for silver on the H1 scale are: 16.40, 16.11, 15.76, 15.59, 15.31, 15.08, and 14.81. Here, we follow the development of the local uptrend set on April 1. We can expect the continuation of the uptrend after the price passes the range of 15.59 - 15.76. In this case, the target is seen at 16.11. The possible upward target is expected at the level of 16.40. Upon reaching this level, we can expect consolidation, as well as a pullback to the downside.
A short-term downward movement is possible in the range between 15.31 - 15.08. The breakthrough of the level 15.08 will lead to a deep correction with the target at 14.81 which serves as a key support for the uptrend.
The main trend is the local high structure 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
