Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
22 November
Gold XAUUSD
- * Gold break above 2650 was a buy signal targeting 2661/64 & the break above 2665 then hit targets of 2670 & minor resistance at 2677/79.
- * We are just breaking above 2680 to hit the next target of 2691/94.
- * If you have been long Gold on the way up from 2603 according to my report this week, we are hitting resistance at 2691/94 – a short is a bad idea in this bull trend but we are severely overbought in the short term so a high for the day is certainly possible here & I would at least lighten up on longs.
Considering the huge profits, it may be sensible to exit and wait, especially as it is Friday.
Why blow some profits before the weekend? - * However if we continue higher look for 2706/09 before the weekend.
- * Support at 2675/70 could see a low for the morning but longs need stops below 2660.
Silver XAGUSD
- 1. Silver break above 3090 was a buy signal for this week but we have stalled just below the next target of 3160/65.
- 2. It looks like we could reach 3190 on a break above 3170.
3. Silver support at 3090/3080 with a low for the day here yesterday & longs need stops below 3060 today.
(We just held above here yesterday)
WTI Crude January future.
Last session low & high for the December contract: 6886 – 7038.
(To compare the spread with the contract that you trade).
- 1. We wrote: WTI Crude beat strong resistance at 6880/6920 & made a high for the day at the next target of 6990. If we continue higher today look for 7040/70.
- 2. We hit 7040/7070 within 2 ticks – so a high for the day exactly here.
- 3. Support at 6970/50 today & longs need stops below 6900.
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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
20241122
