Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

26 June

Gold XAUUSD

1. 1. Gold remains stuck in a sideways consolidation with little movement yesterday.
   The market is moving up one day, down the next day in the sideways trend for 2 weeks.

2. However, shorts at resistance at 2335/40 worked perfectly with a high for the day exactly here before prices turned lower to my 3 targets of 2325, 2320 & 2315 for profit taking.

WE caught the exact high & low for the day we simply cannot do any better!! – especially in such difficult conditions.
If you want to try selling this level again today, stop above 2345.
A break higher can target 2345/50 & perhaps as far as 2365/70.
A break below 2312 today is likely to signal further losses towards 2307/05 & perhaps as far as 2298/95.

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. 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 up one day, down the next day in the 4 day sideways trend as we head back towards support at 8030/8000.
   Longs need stops below 7940.
   Targets: 8080, 8120, 8170
2. 2. 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.

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

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20240626