Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
29 October
Gold XAUUSD
- * Gold unexpectedly broke very strong support at 3960/50 with longs stopped below 3930.
- * However we did not reach as far as my downside target of 3875/70, with a low for the day at 3886.
- * The bounce hit my resistance at 3970/3980.
- * This level is obviously important again this morning.
- * A break below 3920 should trigger further losses today to retest 3886.
- * A break lower eventually looks likely & targets 3875/70 then 3845/40 is possible.
- * We should meet support at 3815/05 & longs need stops below 3795.
- * Shorts at 3970/80 need stops above 4000. A break higher targets 4015/4020.
- * If we continue higher look for 4040, perhaps as far as 4070/4075.
- * Very strong resistance at 4120/4130 is a sell opportunity with stop above 4145.
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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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