Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

Trade ideas for Tuesday 13th February 2024

Gold XAUUSD broke the support as we wait for US Core Inflation Rate on Tuesday.  We should therefore have resistance at 2023/26 & shorts need stops above 2029. Shorts can target support at 2013/11. Longs here stop below 2009. A break lower however can target 2003/2000, perhaps as far as 1990.

A break above 2029 is a buy signal targeting 2032/33 but maybe no further. A break above 2035 however targets 2038. 

Silver XAGUSD should have resistance again at 2270/90 on any recovery today & shorts need stops above 2310. (A high for the day at 2307 yesterday kept us n the short position). A break higher targets 2030/35.

Shorts at 2270/90 target 2235 & 2215.

WTI Crude March future is only trading sideways but the move above 7660 hit my next targets of 7700 & 7730/40 with a high for the week exactly here last week.

We should meet strong resistance at 7790/7840. Shorts need stops above 7900. On the downside we should have strong support at 7520/7480 (with a low for the day at 7554 yesterday) & longs need stops below 7450.

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

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

20240213