Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

30 October

Silver  XAGUSD

1. 1. Silver beat strong resistance at 4750/4770 with the break above 4820 a buy signal but we reversed from 4844.
2. 2. Note the 2 green Dojis on the daily chart showing no clear direction over the past 2 days.
3. 3. Above 4850 can target 4880/4890.
4. 4. There may be minor support at 4725/4705.
5. 5. A break below 4695 can target 4650/40, perhaps as far as 4610/00.
6. 6. Further losses retest this week’s low at 4560/50.

7. Just be aware that a break below 4540 can target an excellent buying opportunity at 4460/4440 & longs need stops below 4395.

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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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