Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

26 September.

Gold XAUUSD

• * Gold in a short term correction. The pattern is not yet clear but it could be a bull flag.
• * We must wait for clarity.
• * First support at 3725/20. Targets: 3735, 3745. Longs need stops below 3715.
• * A break below 3715 risks a slide to 3710/08 then 3696/93, perhaps as far as 3690/88.
• * However shorts are risky in a strong bull trend so I do not recommend – I prefer to sit & wait for a clear signal or pattern.
• * We could have minor resistance in the 3742/46 & again at 3755/59.
• * A break above 3761 can target 3771/74 & 3777/79.
• * Further gains retest the all time high at 3790/3791.

• * A weekly close above here would be a buy signal for the start of next week.

Silver  XAGUSD

1. * Silver made a low for the day exactly at first support at 4370/60 for the second day & shot higher through 4410/15 to retest 4444/4446.
2. * The break higher hit my targets of 4455/60 & 4480/85 before a high for the day at 4523.
3. * New targets: 4546/49, 4570/74, 4592/97, 4615.
4. * As I suggested at the start of this week, silver appears to be building strong upward momentum.
5. * Strong support at 4420/15 & longs need stops below 4400.

• * A buying opportunity at 4365/60 & longs need stops below 4345.

WTI Crude November future

Last session low & high: 6406 – 6535
(To compare the spread with the contract that you trade).

WTI Crude beat resistance at 6350/6385 to target 6435/45 & 6520/40.
All targets hit with a high for the day exactly here.

A break above 6560 should be a buy signal targeting 6640/60, perhaps as far as 6530/50.Support at 6400/6350. Longs need stops below 6320.

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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.

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Jason Sen, Director

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20250926