Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
30 October 2024
Gold XAUUSD
- * Gold break above 2760 killed the bearish engulfing candle signal & was our buy signal targeting 2775/77 (hit overnight) then 2785/86 & 2789/90, which could be reached before the release of NFP on Friday.
- * If we continue higher look for 2797/99.
- * We should have a buying opportunity at 2760/56 & longs need stops below 2751.
Silver XAGUSD
- * Silver has not beaten last week’s high at 3486, so clearly struggling in comparison to Gold which keeps hitting new all time highs.
- * The break above 3405 did trigger a further recovery as predicted to 3430/40 & as far as 3455.
- * If we continue higher (we should do) look for a retest of the October high at 3480/87.
- * Obviously bulls need a break above here for a buy signal but we run in to 14 year Fibonacci resistance at 3500/10, so it is only a weekly close above here that should trigger significant gains before year end.
- * First support at 3380/70 & longs need stops below 3355.
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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
20241030
