Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

Silver  XAGUSD

1. 1. Silver staged a recovery from the sharp sell off to 5045 on Tuesday.
2. 2. First support at 5230/5210. Longs need stops below 5180.
3. 3. Targets: 5290, 5330.
4. 4. A break lower targets 5125/5110. A low for the day is possible here but longs need stops below 5075.
5. 5. Targets: 5200, 5280, 5330.
6. 6. A break lower meets a buying opportunity at 5050/5040 & longs need stops below 5015. Targets: 5100, 5150, 5200.

7. A break above 5370 targets 5400/5405 & 5440/50, perhaps as far as 5475/85.

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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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