Daily technical analysis for Gold, Crude Oil and Silver, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.
Gold – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1171.20$ with targets at 1180.40$ next 1187.10$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1171.20$ with targets at 1164.50$ next 1155.30$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1180.00, 1190.00, 1204.00, 1215.00, 1232.00
Support: 1160.00, 1150.00, 1140.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 58.10$ with targets at 59.30$ next 60.50$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 58.10$ with targets at 56.90$ next 55.60$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 60.00, 61.60, 62.00, 63.00, 63.65, 65.00
Support: 56.50, 55.70, 54.00, 52.50
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 16.00$ with targets at 16.10$ next 16.25$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 16.00$ with targets at 15.85$ next 15.75$ in extension.
Silver – Daily Chart Support and Resistance levels
Resistance: 16.50, 16.80, 17.20, 17.40, 17.80, 18.00, 18.50
Support: 15.80, 15.55, 15.30
Commodities Pivot Points:
Pivot points are very useful tools for commodities professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.
