Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas
21 January.
Gold XAUUSD
- * Gold made a low for the day at support at 2695/2690 a few hours after this week’s open.
- * Our longs here worked perfectly as we hit targets: 2700, 2705, 2710.
- * Bear in mind that Gold is in a 4 month sideways consolidation & so it is unlikely to be too long before prices reverse again.
- * We should meet resistance again at 2724/26 if we see further gains today but break above 2728 this week is a buy signal targeting 2735 & perhaps as far as 2746/49 for profit taking.
- * Support again at 2695/2690 & longs need stops below 2685.
- * A break lower risks a slide to 2673/70.

WTI Crude March future.
Last session low & high: 7582- 7786.
(To compare the spread with the contract that you trade).
WTI Crude broke strong support at 7770/7730 in the February contract or 7720/7650 in the March contract.
The break lower hit targets of 7600/7560 in the March contract & we made a low for the day here.
We should meet resistance at 7700/7740. Shorts need stops above 7790.
Support at 7600/7560 but longs need stops below 7520.
A break lower risks a slide to 7450/30 & even 7370/7330.

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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
20250121
