Greetings, dear traders!

The beginning of the week was calm, no sharp movements observed on the main instruments. The key factors are remaining the same - expectation of rates cut that is supposed to take place next month and the upcoming Fed meeting. The dollar is still holding on near the last week highs.

On Monday, the important news to mention was the speech by Mario Draghi, which didn't affect the market situation.

Statistics on activity in the manufacturing sector of the US was issued yesterday, but it's not considered to be one of the main news. It turned to be worse than expected and became another argument in favor of the rate cut; however, it didn't lead to the dollar sale.

News to consider on Tuesday:

  • 13:00 and 19:00 - speech by Mario Draghi;
  • 14:00 - consumer price index in the EU; economic sentiment index in Germany;
  • 17:30 - building permits issued in the United States;
  • 19:00 - speech by the head of the Bank of England Mark Carney.

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Gas - considering purchases from imbalance at 2.332

Here, the key condition is fulfilled - global imbalance at 2.332 is located within the support segment that was formed last week. The level was broken through upwards, and the chart is already completing price rounding formation. As soon as touching the imbalance from above takes place, one can open deals to buy.

Stop is placed at the level of 2.309, and reference points for fixing profit are located at 2.355 and 2.400. In this case, there's no need to reduce the volume, the signal is not aggressive.

WTI oil - growth is expected

The situation here is similar to natural gas pattern. The difference is that the entry point is more aggressive - there's no support zone here. Global imbalance at 51.54 has already started working out, it was broken through upwards, and the second half of price rounding is being formed now. If retest of this mark takes place, open deals to buy.

Stop is located at 50.81, and take profits - at 52.28 and 53.75.

Copper - priority is given to purchases

A false breakout of the minimum formed last Friday has taken place. Stop-losses of the majority of market participants are collected, and now we are observing a true reversal. Global imbalance at 2.6410 was broken through with an impulsive movement, and we are waiting for a market entry confirmation, i.e. level's retest.

When buying, place stop below the Monday Low - at the level of 2.6116; profit should be fixed at the levels of 2.6705 and 2.7295.

Gold – considering deals for sale

On Friday, there was an attempt to get consolidated above 1350.00, but it wasn't a success. A standard M-shaped pattern was formed, its minimum is an imbalance, which we are interested in. There's a possibility that retest of the level of 1351.95 from below will take place this week; if this happens, one can open deals for sale.

Stop-loss should be placed beyond Friday maximum - at 1359.28. According to the Safe rule, take profits are placed at 1344.61 and 1329.94.

Silver - signal to sell is expected

Here the situation is exactly the same as on gold. On Friday, maximum at the level of 15.00 was tested on a sharp movement, but consolidation didn’t taken place. As a result, we've got a reversal pattern with a total minimum at 14.994. This imbalance has already been broken through downwards, and as soon as level's retest takes place, one can open short positions.

At touching imbalance broken through from below we'll open deals for sale with a target at 14.860 and 14.592. Stop is located above the Friday high - at 15,128.