Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
10 June
Gold XAUUSD
- * Gold held key support at 3309/00 on the open with a low for the day at 3293.
- * Longs at key support at 3309/00 hit the 2 targets of 3320/23 & 3327/30 – a high for the day at 3337 so we made the most of the movement of the day.
- * Longs need stops below 3291 on a retest of key support at 3304/00.
- * A break below 3290 is a sell signal for this week targeting 3275/73, perhaps as far as 3263/60.
- * A break above 3337 can target 3341/44, perhaps as far as 3348/50 but probably no further in this sideways consolidation phase.
Silver XAGUSD
- 1. Silver finally made a move & shot higher through key resistance at the 2024 high of 3486/87.
- 2. Perhaps bulls are to finally gain control of this market.
- 3. Next target is 3730/45. We are closing in with a high for the day at 3689.
- 4. Support at 3580/60 this morning but longs need stops below 3540.
5. Strong support at 3500/3480 & longs need stops below 3460.
WTI Crude JULY future
Last session low & high: 6420 – 6543
(To compare the spread with the contract that you trade).
WTI Crude July creeping higher through 6340/6410, after holding this level for 4 days in a row & almost 4 weeks.
Having held 6340/6410 for so long, the break above 6420 targets strong resistance at 6500/6550. (We made a high for the day exactly here yesterday).
Shorts need stops above 6600.
A break higher is a buy signal targeting 6690 & even 6780/6800 is possible.
The target for shorts is 6390/6370 & a low for the day is certainly possible here but longs need stops below 6300. A bounce from here however can retest 6000/6550.
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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
20250610
