Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
17 February
Gold XAUUSD
- * Gold beat resistance at 2909/13 & the break above 2916 hit the targets of 2925/28 & the all time high at 2940/42.
- * We wrote: I will also watch to see if a negative candle forms to signal a potential double top sell signal.
- * **WE HAVE THE BEARISH ENGULFING CANDLE ON THE DAILY CHART TO CONFIRM DOUBLE TOP SELL SIGNAL.**
- * Perhaps $3000 was expected by too many speculators!
. - * There is minor support at 2883/78 but after Friday’s price action a break below 2876 seems likely for a sell signal on Monday targeting 2865/63 & probably strong support at 2848/44.
- * Of course the bulls have not given up & they are likely to defend this level so look for a bounce from here.
- * Longs need stops below 2835.
- * Targets: 2855, 2862, 2874
. - * Resistance at 2900/2905 & shorts need stops above 2910.
Targets: 2890, 2880, 2870
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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
20250217
