Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
17 July
Gold XAUUSD
- 1. A few days ago I wrote that Gold was beginning to look like we had a new bull trend.
Since then Gold has continued higher with significant gains. - 2. The break above 2427 was the next buy signal targeting 2433 & we retested the all time high at 2446/49 yesterday.
The break above 2450 was an obvious buy signal for this week & we immediately shot higher to 2475 as I write. - 3. Next targets are 2487/90, 2495/99 & 2507/09. Eventually 2516/19 & 2526/29 are achievable.
- 4. A buying opportunity at 2450/45 & longs need stops below 2440.
- 5. However further losses risk a slide to support at 2426/23 & longs need stops below 2419.
Silver XAGUSD
- 1. Silver longs at first support at 3060/50 worked perfectly yet again but this time we beat minor resistance at 3095/3105 for a buy signal targeting 3125 & 3145, even 3170/75 is likely.
- 2. A break above 3180 is a buy signal targeting 3205/10 & 3225/30, perhaps as far as 3245/50.
- 3. First support at 3105/3095 & longs need stops below 3085. A buying opportunity again at 3060/50 & longs need stops below 3030.
WTI Crude August future.
Last session low & high for the AUGUST contract: 8022 – 8193.
(To compare the spread with the contract that you trade).
- 1. WTI Crude August broke support at 8150/8100 & meets support at 8010/7980 today. With the sideways nature of recent price action we could see a low for the day here but longs need stops below 7940.
Targets: 8100, 8150, 8190, perhaps as far as 8220.
2. A break below 7940 is a sell signal targeting the 8 month range around 7850 this week. Further losses are possible as far as 7730/00.
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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
20240717
