Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
03 January.
Gold XAUUSD
- * Gold remains in quite an erratic sideways channel.
- * We beat the 14 day high at 2638/39.
- * We wrote: ”A break above 2641 this week could trigger some buying pressure targeting 2650/51. If Gold continues higher look for 2658/59, perhaps as far as minor resistance at 2663/65.”
- * We are closing in on the upper target of 2663/65 as I write over night.
- * There’s up to 20 points profit if you managed to buy on the break above 2641.
- * A high for the day is possible here. Shorts need stops above 2674.
- * A break higher targets 3 month trend line resistance at 2688/92.
- * Failure to beat minor resistance at 2663/65 targets 2653/51, perhaps as far as 2647/45.
- * Support at 2645/42 but longs need stops below 2638.
Silver XAGUSD
- * Silver also remains in quite an erratic sideways channel as we win back late December losses yesterday.
- * We should encounter resistance again at 2960/70. & in fact we saw a high for the day exactly here yesterday.
* Shorts need stops above 2990.A break higher may only reach 3010/20 but above here can target 3050/55. - * We could meet resistance at 3055/3065 but shorts need stops above 3095.
- * Holding resistance at 2960/70 can target 2925/20.We had a low for the morning & afternoon session just below here at 2915.
- * Below 2910 look for a tret of the December double bottom low at 2885/75.
- A break of December’s low of 2872 targets 2850, perhaps as far as 2830/25.
WTI Crude February future.
Last session low & high: 7179 – 7373.
(To compare the spread with the contract that you trade).
WTI Crude beat the December high of 7144 for a more positive outlook on 31 December.
The break above 7180 triggered buying interest as predicted targeting 7240/7280 for profit taking on any longs. I hope you caught this trade.
The break above 7295 was the next buy signal targeting 7360/7390.
We made a high for the day exactly here at this target for up to 150 ticks profit buying WTI Crude yesterday.
With a high for the day exactly at my 7360/7390 target, this is acting as minor resistance.
We could retrace to support at 7230/00. Try longs with stop below 7170.A break above 7415 is a buy signal for today targeting 7465/85. Above 7500 look for 7555/65.
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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
20250103
