Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
25 June
Gold XAUUSD
- * Gold remains difficult to trade with no trend, pattern or clear signals to guide us. In May we held inside of April’s range, mostly in the upper half.
- * In June we are holding mostly within the upper half of the May range, so it’s clear Gold is going nowhere despite the volatile conditions, as we react to tariffs and geopolitical events.
- * Gold is not respecting the short term levels I have on my 1 & 4 hour charts – but actually this is normal, the longer we remain in the sideways consolidation.
- * The Fibonacci stops working, the moving averages flat line and start to converge to the same area and even trend line are less well respected (in all time frames), which is why my strategy is trend following.
- * Range trading is more difficult & requires a very short term scalping strategy.
- * Gold headed lower from resistance at 3360/3370 as far as support at 3325/20 with a low for the morning exactly here.
- * However we only hovered here without much of a bounce for profit taking.
- * It was an unlucky day as we then collapsed towards my buying opportunity at 3293/3283 but made a low for the day at 3295 so we never got the opportunity to buy before the prices bounced to 3329 as I write over night.
- * We will try to buy again on a retest of 3295/3290 & longs need stops below 3280.
- * Target range is 3325/330.
- * We should meet resistance at 3350/55 for a potential short term scalping opportunity with target at 3340/35 & stop loss above 3360.
- * A break higher can target strong resistance at 3370/75. Shorts need stops above 3385.
- Targets: 3360, 3340
- Just be aware that a break below 3380 is a sell signal targeting 3270 & even 3250/45 is possible.
Silver XAGUSD
- 1. Silver has remained in a range for almost 3 weeks.
- 2. Yesterday we tried to breakout of the 2 week range to the downside but quickly recovered from just above support at 3515/10.
- 3. It’s difficult to find opportunities inside range of 3535/25 up to 3730/20.
- 4. We could meet resistance at 3610/25 but a break above 3640 can target 3660/65.
- 5. Strong support at 3520/10 & longs need stops below 3495.
6. A break below here is a sell signal for this week targeting 3440/35, perhaps as far as 3410/3400.
WTI Crude August future
Last session low & high: 6400 – 6783
(To compare the spread with the contract that you trade).
WTI Crude tested the 61.8% Fibonacci (at 6412) from the May low to the June high.
This was the best chance of a low for the day & it worked perfectly with a bounce from 6400, although only as far as 6500.
Longs need stops below 6350.
A break lower risks a slide to 6250/30, perhaps as far as 6190/6170.
Longs around the 6420/6390 area can target 6640/60 & even 6710/40 is possible.A break above 6820 opens the door 6890/6900.
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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
20250625
