Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
Gold XAUUSD
- 1. Gold initially hit the sell level of 2345 & reversed to 2331. Well done if you took the profit in time because Gold then immediately & unexpectedly reversed, breaking the the short term descending channel and/or a 1 month descending triangle for a buy signal.
- 2. We unexpectedly beat strong resistance at 2345/50 & shorts were stopped above 2355.
- 3. As we wrote yesterday, a break & close above 2350 is an important buy signal so we are at critical levels now.
Next targets are: 2365, 2375, 2385. A break above 2390 can target 2410/15. - 4. Today we should therefore have support at 2350/40 if we see any weakness & longs need stops below 2335.
5. Just be aware that a weekly close below 2335 will therefore be totally confusing!!!
Silver XAGUSD
- 1. Silver beat minor resistance at 2955/65 yesterday & we wrote: with bulls taking control we could run as far as 3050/55 & 3090/99. We are almost there as I write & further gains are possible to 3145/55 in to the beginning of next week.
- 2. Support at 3030/20 today & longs need stops below 3000.
WTI Crude August future.
Yesterday’s low & high for the AUGUST contract: 8030 – 8152.
- 1. WTI Crude August continues higher as predicted to my next target of 8130/40 & a high for the day almost exactly here. Further gains are expected towards 8190/8200 today.
Support at 8000/7960 was unfortunately missed by about 30 ticks yesterday.
2. Support at 8030/8000 today & longs need stops below 7960.
Friday’s trade ideas with stop loss & targets.
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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.
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
20240621
