Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

28 January

Gold XAUUSD

• * Gold hit the next targets of 5060/63, 5075, 5085. 5095 & as 5110 on Monday.
• * On Tuesday we hit my next targets of 5128/5130, 5145/46, 5165/68 & ran as far as 5234 as I write over night.
• * Today I look for 5260/65, 5290/95 & perhaps as far as 5310/15 eventually.
• * Minor support at 5190/5180 & longs need stops below 5160.
• * A break lower risks a slide to support at 5105/5095 & longs need stops below 5080.

• * Just be aware that a daily close below 5150 risks a more neutral short term outlook but there’s definitely no sell signal despite severely overbought conditions at this stage.

Silver  XAGUSD

1. * Silver hit all targets again as we race as far as 117.69.
2. * Holding above 106.50/106.00 was positive for today & although we dipped to 105.00 silver recovered quickly.
3. * This can allow a retest of the new all time high at 117.69 although we only crawled to 114.54 as I write over night.
4. * A break above 117.69 can target 119.80, 121.20, 122.20, 123.30, 124.90.
5. * Holding above 113.50/113.00 keeps bulls in full control today.
6. * However a break below 112.50 risks a slide to 111.20/110.70.

• * A break below 109.50 can target 106.20/105.60.

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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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Jason Sen, Director

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20260128