Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
05 January
Gold XAUUSD
- * Gold has hovered for the last 3 days, closing near top the open, which clearly indicates a lack of direction or short term trend.
- * Not a surprise during holiday conditions & this could last a few more days before markets return to normal.
- * A high for the day just $3 from the target of 4405/4410 so watch this level again on Monday.
- * A break higher can target 4431/34 & even 4441/4445 is possible.
- * We should still have key support at 4299/4294, although we over ran to the downside on Wednesday.
- * Longs need stops below 4285 & a break below here should trigger further losses towards 4270/65.
- * Below 4260 risks a slide to 4240/4235.
Silver XAGUSD
- 1. Silver had seen huge ranges for 4 days in a row but significantly less on Friday.
- 2. Support at 7050/7000 remains key to direction at this stage.
- 3. I expect some resistance at 7500/7550.
- 4. However if we continue higher look for 7660/7700, perhaps as far as resistance at 7800/7850.
- 5. Shorts here need stops above 7900.
- 6 .First support again at 7050/7000 & longs need stops below 6900.
- 7. A break lower could be a sell signal targeting important support at 6700/6600.
8. Longs need stops below 6500 & a break lower can target 6230/6200.
WTI Crude January futures.
Last session low & high: 5660 – 5793.
(To compare the spread with the contract that you trade).
WTI Crude made a low for the day on Friday exactly at support at 5700/5665 & longs worked perfectly on the bounce to 5744.
Price action remains choppy & erratic with no clear trend or pattern to guide us.
We have held inside of last Monday’s range so there are no new levels to mention.
Resistance again at 5850/5890.
However a break above 5930 can target 6010/6030.
A low for the day on Friday exactly at support at 5700/5665 but a break lower in longer term bear trend could target 5590/5580 before a retest of the super important 2025 low at 5530/5498.Obviously a break below here would be an important sell signal for the start of 2026.
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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
20260105
