Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

06 January

Gold XAUUSD

• * Gold beat 4405/4410 with stops triggered above 4420.
• * The break higher hit my targets of 4431/34 & 4441/4445 so the long positions worked.
• * Gold ran as far as 4459 and it’s clear we remain in a bull trend.
• * I’m hoping this trend is resuming now after the correction on the 29th of December.
• * A break above 4460 can target 4485/4490 today.
• * If we continue higher look for 4505/10.
• * We then meet the all time high at 4545/4550.
• * After yesterday’s strong Bullish momentum hopefully any correction to the downside will be limited.

• * We should find good support at 4420/4410. Longs need stops below 4405.

Silver  XAGUSD

1. 1. Silver made a low for the December correction exactly at support at 7050/7000.
2. 2. Our long positions have worked perfectly on the jump to minor resistance at 7500/7550 for an easy 500 ticks profit.
3. 3. Beating minor resistance was not a surprise and we have continued onto the next target of 7660/7700 and we are almost testing resistance at 7800/7850.
4. 4. Shorts are risky in the bull trend and even if we pause here, the market may not go down significantly enough to make money out of a short position.
5. 5. However if you try a short here we need stops above 7900 and I would suggest taking a quick profit if you see one.
6. 6. Eventually a break higher would be expected and we can then target 8050/8080.
7. 7. On a break above 8100 there’s not much to stop a retest of the all time high at 8330/8362.

8. There should support around 7480/7450 but if we unexpectedly continue lower look for a buying opportunity 7340/7300 & longs need stops below 7280.

WTI Crude January futures.
Last session low & high: 5660 – 5851.
(To compare the spread with the contract that you trade).

WTI Crude made a low for the day on Monday exactly at support at 5700/5665 (just 30 ticks above the opening low & longs worked perfectly on the bounce to resistance again at 5850/5890.

Looks like we managed to catch the low for the day and the high for the day perfectly. I don’t think we can do better than that??

A break above 5930 today can target 6010/6030.

 In these volatile conditions, if we reverse again, look for 5780/5750 as the 1st downside target then support again at 5700/5665.

Just be aware that a break below 5620 in a longer term bear trend could retest 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

20260106