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 1153.80$ with targets at 1161.10$ next 1171.60$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1153.80$ with targets at 1143.30$ next 1136.00$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1190.00, 1223.00, 1236.00, 1240.00, 1245.90
Support: 1140.00, 1132.00, 1120.00, 1100.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 48.20$ with targets at 49.05$ next 49.90$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 48.20$ with targets at 47.30$ next 46.45$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 52.40, 55.00, 60.00
Support: 47.30, 45.55, 45.00, 43.60, 43.20
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 15.45$ with targets at 15.65$ next 15.95$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 15.45$ with targets at 15.15$ next 14.95$ in extension.
Silver – Daily Chart Support and Resistance levels
Resistance: 16.00, 16.85, 17.00, 17.75, 18.50, 19.00
Support: 15.25, 15.00, 14.70, 14.15
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.
