Gold makes a new all time high at $2,631

Jason Sen DayTradeIdeas.co.uk

Gold

Gold did make a break above 2604 (despite Wednesday's negative candle) & if you bought back in to longs we hit my target 2620/22 perfectly and make a new all time high just above, at 2,631.
New targets for this week: 2633/35, 2642/44 & 2648/50. If we continue higher look for 2655.
First support at 2619/17 if you want to be aggressive about buying this week but we could certainly drift as far as 2612/11 if there is little activity on Monday.
The best support should be at 2604/2599 & longs need stops below 2594.

WTI Crude November future

Last session low & high for the November contract: 7037 - 7145 (To compare the spread with the contract that you trade).

WTI Crude should find resistance at 7100/7150. Shorts need stops above 7200. Targets: 7050, 7000.
Support at 7000/6970 but longs need stops below 6920. Targets: 7050, 7100
The best support should be at 6890/6860 but longs need stops below 6830 Targets: 6930, 6980.
A break above 7200 is a buy signal targeting 7310/7330

(This story was corrected on September 23 at 8:25 GMT to say that new Gold all time high price is at $2,631 and not $2,525).

Author

Jason Sen

DayTradeIdeas.co.uk

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