Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

14 April

Gold XAUUSD

• * Gold beat 3164/67 for a buy signal & shot higher to the next target of 3225/29 & more than half way to 3255/60.
• * A break above 3260 targets 3271/74 & 3280/83.
• * Above 3285 look for 3300/3304.
• * Over the last 16 hours we saw 3 very negative candles on the 1 hour chart.
• * Obviously I am not taking this as a sell signal.
• * Just be aware that we are overbought after such strong gains with short term indicators suggesting we are slowing upside momentum.
• * Strong support at 3220/3216. Longs need stops below 3209.
• * Targets: 3230, 3238, 3242
• * A break lower could test strong support at 3185/3175 & longs need stops below 3170.

• * Targets: 3198, 3205, 3210.
  

Silver  XAGUSD

1. * Silver stalled for a long time at 3120/30 for profit taking on longs.
2. * It looked like we could be forming a more negative rising wedge but we broke the upper trend line of the pattern.
3. * The break above 3155 was a buy signal for Friday targeting 3200/3220 & we made a high for the day almost exactly here on Friday.
4. * We should have support at 3200 & longs need stops below 3180.

• * A break above 3230 is a buy signal for this week targeting 3245/50 & even 3270/75 is likely.

WTI Crude MAY future
Last session low & high: 5943 – 6187
(To compare the spread with the contract that you trade).

WTI Crude made a low for the day exactly at support at 5940/5900.

As predicted the move above 6070 on Friday was a buy signal targeting 6100 & minor resistance at 6140/6180.

In fact we made a high for the day at 6187.

On a retest of support at 5940/5900, longs here need stops below 5830.

A break above 6200 targets 6230/6240 & above here we can retest minor resistance at 6340/80.

Shorts need stops above 6420. A break higher can target 6550/6590 for profit taking on longs.

A break below 5830 WTI Crude could hit 5700/5680.

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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

20250414