Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

25 June

Gold XAUUSD

1. 1. Gold remains stuck in a sideways consolidation with little movement yesterday.

2. We should have resistance at 2335/40 today if you want to try a short term scalp with stop above 2340.
A break higher can target 2345/50 & perhaps as far as 2365/70.

Targets: 2325, 2320, perhaps as far as 2315 for profit taking.

Silver  XAGUSD

1. 1. Silver in a 4 month bull trend & will remain so IF we hold on to support at 2915/2895 this week.
   If you want to gamble on a long here, stop loss below 2875.
   Targets: 2940, 2970, 3000.
2. 2. However a break below 2875 could be a sell signal targeting 2850 & 2810/2800.

3. We should meet resistance at 3010/3030 & shorts need stops above 3040.

Targets: 2970, 2940.

WTI Crude August future.
Last session low & high for the AUGUST contract: 8023 – 8178.

1. 1. WTI Crude August made a low for the day exactly at support at 8030/8000 & shot higher to 8178 for up to 150 ticks profit on the day.
   If we continue higher look for 8190, 8235 & even 8270 is possible.
2. 2. If prices reverse again & retest support at 8030/8000, longs need stops below 7940.

3. A break lower could be a sell signal targeting 7840/7800.

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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.

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Jason Sen, Director

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20240625