Gold and oil sales according to plan for November 21
According to the current state, gold is consolidating between marks 1479 and 1465. A pattern in the form of a “V” for sale has formed.
To enter the market according to pattern V, which was formed within the consolidation, it is necessary to break through the level of 1465. This level is the minimum of yesterday. This is an additional confirmation for the breakdown. The breakdown is not a signal but only indicates an acceptable direction. On the M1 chart, we determine the entry point.
For November 21, the market went through 200% of the 7-day ATR. In all probability, inertia purchases without extremes are expected. Oil can be bought by signals if, by the start of trading in the US session, the price level is updated to 57.00. Oil can be bought at around 56.00 with continued correction, where the Fibonacci level and symmetrical impulse end.