Technical Analysis – DayTradeIdeas
Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
Gold longs at the best support at 1765/60 (& the low for the week as predicted) reaches the 1791/92 target. Outlook remains positive
Silver longs at strong support at 2220/00 worked perfectly with a low for the week exactly here & a bounce to all targets as far as 2280.
Gold longs at best support at 1765/60 work as we hit my targets as far as 1791/92 with strong resistance at 1800/1805 again today. A break above 1810 is an important buy signal.
Downside is expected to be limited with minor support at 1775/73. Best support again at 1765/60. Longs need stops below 1758.
Silver longs at 2220/00 worked perfectly as we reach the 2280 target. Further gains today meet minor resistance at 2295/2300. Strong resistance at 2330/50 – shorts stop above 2365 & reverse in to a long on a break higher, using 2350/30 as support targeting 2395, 2410 & eventually 2445/55.
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Jason Sen, Director