Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
16 September
Gold XAUUSD
- 1. Gold finally made a break above 2533 for a buy signal targeting 2539/43, 2554/56, 2565, 2578/82 & 2586.
A high for the day & new all time high exactly at 2586.
I can’t see how I could have been more accurate!! - 2. Further gains are expected to 2599/2602 this week & 2620/22 is even possible.
- 3. I am a buyer if we dip to support at 2561/57 & longs need stops below 2554.
4. If we continue lower look for a buying opportunity at 2544/40 & longs need stops below 2535.
Silver XAGUSD
- 1. Silver shot higher through 2911/18 towards the August high at 3010/3018 & on to 3055/59 as expected, reaching 4 month 3080/90 on Friday.
- 2. Bulls now need a break above trend line resistance at 3110 for the next buy signal targeting the July high at 3150/75.
3. Support at 3015/3005 & longs need stops below 2980.
WTI Crude OCTOBER future.
Last session low & high for the October contract: 6847 – 7032.
(To compare the spread with the contract that you trade).
- 1. WTI Crude did not make it back to the break point of the longer term 18 month trend line at 7110/50 yet with a high for the day at 7032.
- 2. I hope to sell at 7110/50 & stop above 7200.
HOWEVER after Friday’s reversal we may not get that far. It may be worth selling on a break below 6840 to target 6800, 6730/20 & perhaps as far as 6660. - 3. Try longs at 6550/6500 if we get a chance today with stops below 6400.
Targets: 6690/6720, 6800/6820, perhaps as far as 6870/6900. - 4. A break below 6400 signal further losses which could be as far as the 500 week moving average at 6200.
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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
20240916
