Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
01 May
Gold XAUUSD
- * Gold has finally broken 3263/59 as predicted to target 3250 & even a test of strong support at 3220/3210 is possible at some stage.
- * Well actually we’re almost there & I hope you caught this move for the potential 350-400 tick profit.
- * Longs need stops below 3195.
- * Targets for a recovery are 3233/36 & 3245/50, with 3265 even possible.
- * A break below 3195 however is a sell signal initially targeting 3170/65.
- * A break below 3160 will be the next sell signal.
Silver XAGUSD
- 1. Silver still holding inside last Wednesday’s range of 3207 – 3367 but testing the lower end of the range.
- 2. We made a high for the day exactly at first resistance at 3310/20 & collapsed to my target of 3240/30.
- 3. A break below 3200 is a sell signal for today targeting 3170, perhaps as far as 3120/10 for profit taking on shorts.
- 4. However a bounce from 3210/00 (unlikely in my opinion) can target 3220/3230, perhaps as far as 3250.
WTI Crude JUNE future
Last session low & high: 5791- 6043
(To compare the spread with the contract that you trade).
WTI Crude broke 6150 for a sell signal targeting 5990/70.
Yesterday we wrote: There’s no important support or indication that prices can hold the downside at this stage so further losses are possible to 5920/00, perhaps as far as 5880/50.
Exactly as predicted WTI Crude has collapsed in fact reaching 5791 & can target 5750 today.
If we continue lower look for 5700/5680.
I see very little chance of a recovery – certainly no indication this morning but I expect resistance at 5900/30 & 5990/6020.
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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
20250501
