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Today's trade ideas and Gold, WTI Crude analysis [Video]

Gold XAUUSD broke the support as we wait for US Core Inflation Rate on Tuesday. We should therefore have resistance at 2023/26 & shorts need stops above 2029. Shorts can target support at 2013/11. Longs here stop below 2009. A break lower however can target 2003/2000, perhaps as far as 1990.

A break above 2029 is a buy signal targeting 2032/33 but maybe no further. A break above 2035 however targets 2038.

Silver XAGUSD should have resistance again at 2270/90 on any recovery today & shorts need stops above 2310. (A high for the day at 2307 yesterday kept us n the short position). A break higher targets 2030/35.

Shorts at 2270/90 target 2235 & 2215.

WTI Crude March future is only trading sideways but the move above 7660 hit my next targets of 7700 & 7730/40 with a high for the week exactly here last week.

We should meet strong resistance at 7790/7840. Shorts need stops above 7900.

On the downside we should have strong support at 7520/7480 (with a low for the day at 7554 yesterday) & longs need stops below 7450.

Chart

Author

Jason Sen

Jason Sen

DayTradeIdeas.co.uk

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