Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

Gold XAUUSD

• * Gold completed the bull flag pattern & consolidation phase & bull flag pattern for clearer signals.
• * The target of 3365/70 was hit & we only missed 3395/99 by $3 so far this week.
• * However we are consolidating sideways yet again with an inside day yesterday.
• * Further gains today target 3365 & eventually 3380/90 is possible.
• * A break above 3395 should be a buy signal targeting 3410/14 & May high at 3434/38.
• * On a retest of support at 3335/30 today, longs need stops below 3325.

• * An unexpected break lower however can target 3318 & 3306/04.

Silver  XAGUSD

1. * Silver made a low for the day at first support at 3405/3395 on Tuesday & held 10 ticks above here on Wednesday.
2. * We tackled key resistance at the 2024 high of 3486/87 but failed just above here yesterday.
3. * As I wrote yesterday, this must be beaten if bulls are to finally gain control of this market.
4. * Support again at 3410/00.
5. * However below 3390 meets the next target & an excellent buying opportunity at 3370/60.

• * Longs need stops below 3350.

WTI Crude JULY future
Last session low & high: 6217 – 6396
(To compare the spread with the contract that you trade).

WTI Crude July held the support & resistance yesterday for another great scalping opportunity.

contract trades in a 6 week range from 5495/5435 up to 6340/6410, with a high for the day inside this range for 3 days in a row.

Movement is random, erratic and unpredictable hour to hour in the sideways channel.

Having held 6340/6410, a break above 6420 targets strong resistance at 6500/6550.

Shorts need stops above 6600.

A break higher is a buy signal targeting 6690 & even 6780/6800 is possible.

Minor support at 6230/6180 saw a low for the day exactly here yesterday.

Longs need stops below 6140 again today.

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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

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