Technical Analysis DayTradeIdeas
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.
Join Telegram https://t.me/daytradeideas
Gold lower as predicted to my next target of 1904. There is only 1 support of note this week at 1900/1895 (& we made a low for the day just a point above here yesterday). I think it is worth betting on a bounce from here in severely oversold conditions. Targets: 1914, 1920, 1928.
Longs need stops below 1890. A break below 1890 this week is an important sell signal. If this happens today, first target is 1870/65 but 1845/40 is not out of the question.
Silver meets strong support at 2245/25 as we become oversold, with a low for the day exactly here yesterday. Try a long here with stop below 2210. Targets: 2295, 2320.
WTI Crude September does not know what to do at the 8250/8350 area in the summer trading conditions. I am going to go with a support at 8250/00 today. I have not given up on the bulls & a bounce from here can eventually target 8450/70. Eventually we could reach 8530/50.
On a break below 8150 however I will believe that the oil recovery is over & the 500 day moving average at 8460/90 has been the trigger to cause us to remain in a profit taking sideways trend.
A break below 8050 is the next sell signal & could accelerate losses, targeting 7950/30, probably as far as strong support at 7830/00. Longs need stops below 7750.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Jason Sen, Director
https://www.daytradeideas.co.uk
20230815
