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Commodities Trading Ideas: Gold & Silver wait for major central banks

By Mohammad Shanti
25 Oct,2022
Commodities Trading Ideas: Gold & Silver wait for major central banks

Gold continue to trade above $1640

Trading Idea: Ranging

Entry point Stop loss Take Profit 1 Take Profit 2
1638 1655 1611 1593

Comment: Trading near the pivot point and moving averages suggests range trading. RSI and MACD favors the bears however breaking the support line is required to confirm the trend

Order Type: Sell STOP

Risk-reward ratio (SL to TP 1):  1:1.58

Risk-reward ratio (SL to TP2):   1:2.65
 

Silver range between 18.90 and 19.50

Trading Idea: Ranging

Entry point Stop loss Take Profit 1 Take Profit 2
19.60 19.20 20.00 20.64

Comment: Trading near the pivot point and flat indicators suggests range trading. However, Breaching the recent top is required to confirm the bullish outlook

Order Type: Buy STOP

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.62

WTI continue to range 

Trading Idea: Ranging

Entry point Stop loss Take Profit 1 Take Profit 2
85.60 82.80 89.20 92.93

Comment: Trading near the pivot point and moving averages suggests range trading. However prices are trading within a technical pattern therefore in order to confirm the bullish outlook, the resistance must be defeated

Order Type: Buy STOP

Risk-reward ratio (SL to TP 1):  1:1.28

Risk-reward ratio (SL to TP2):   1:2.62
 


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