Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
23 July
Video analysis:
Silver XAGUSD
Silver hit strong resistance at 5990/6010 but unfortunately overran to 6090 before reversing.
I still think we could hold resistance at 5990/6020 today but shorts need stops above 6100 of course.
A break higher however then sees 6010/5990 act as support for a buy signal targeting 6180/6210 & even 6300 is possible on this move, for profit taking.
However if prices sink from 6000 look for a downside target of 5950, perhaps as far as 5900/5880 for profit taking.I expect strong support at 5880/5850 & a good chance of a low for the day if tested but longs need stops below 5800.
Today’s trade ideas:
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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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