Video analysis – Gold, Forex, Emini S&P, Nasdaq:
https://www.youtube.com/watch?v=asI78AZGGTc
17 April
Gold XAUUSD: made a low for the day exactly at first support at 2370/65 & longs worked on the bounce to all my targets of 2380, 2390, 2395.
- First support again at 2370/65 & longs need stops below 2355.
Targets again are: 2380, 2390, 2395.
- A break lower however risks a retest of KEY SUPPORT AGAIN AT 2325/20 TODAY. Longs need stops below 2315. Targets: 2345, 2355, 2365.
- On a break above 2400 take this as a buy signal & look for 2418/22 before a retest of the all time high at 2428/31.
- We saw strong selling pressure here last week. I still think it would be risky to short here again today but if you try (hoping to see a negative double top form) place a stop above 2435.
- A break below 2315 suggests the important support at 2325/20 has been broken & it should then act as resistance & trigger further significant losses towards 2305, 2295 & 2290/85 for profit taking on shorts. Just be aware that a break below 2280 targets a buying opportunity at 2265/60 & longs need stops below 2250.
Silver XAGUSD however collapsed through first support at 2855/45 but made a low for the day at support at 2800/2790 & longs need stops below 2770.
- First support at 2800/2790 & longs need stops below 2770.
Targets: 2845, 2890.
- A break lower however risks a slide to 2750/40 & perhaps as far as 2710/00.
- A break above 2855 can be taken as a buy signal for today targeting 2900 for profit taking.
WTI Crude MAY future
- WTI Crude has been yo-yoing now for 10 days as we held mostly withing Monday’s range.
- For this reason it is a very tricky time to position trade. Moves are random & erratic, with no clear pattern or trend. Although I think this is a consolidation so I think eventually we will break above 8800 & continue higher .
- On the downside we should have a buying opportunity at 8320/8280 & longs need stops below 8240.
Targets: 8390, 8480
- A break above 8800 however should target 8900/20 & even 9050/80.
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With almost 40 years experience, Jason Sen began trading his own account on the floor of the London International Financial Futures Exchange (LIFFE) at the age of 19, in 1987. He spent 15 years specialising in market making interest rate and index options on floor then moved on to trading forex on screen at the turn of the millennium. He is also recognised as a skilled technical analyst developing this expertise for the last 20 years.
His extensive trading experience from the LIFFE trading floor to screen trading and deep understanding of technical analysis give him a thorough understanding of the financial markets and the factors that drive them.
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