Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
06 July
Video analysis:
Gold XAUUSD
Gold beat strong resistance at 4155/4165 so holding above here (again) today can target 4210/15 & minor resistance at 4220/4225.
A break above 4230 is a buy signal targeting 4235/39 & 4255/59….eventually we could reach strong resistance at 4290/4300 at the start of next week.
Minor Gold support at 4147/42 & longs need stops below 4137.A break lower can target strong support at 4112/4107 & longs need stops below 4099.
Silver also broke higher above my sell opportunity at 6045/6075 for a short term buy signal targeting 6320/6340 for profit taking.
We now target strong resistance at 6340/6370.
Shorts need stops above 6420.
A break higher is another buy signal targeting 6530/6550 & 6660/6700.
We could eventually reach strong resistance at 6830/6870.Shorts need stops above 6910.
Silver first support at 6150/6140 & longs need stops below 6120.
A break lower can target strong support at 6050/6025 & longs need stops below 6005.
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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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