Home Forex Analysis And Forecasts Commodities Pivot Points and Forex Technical Analysis 17/07/2015

Commodities Pivot Points and Forex Technical Analysis 17/07/2015

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 1144.25$ with targets at 1147.80$ next 1151.85$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1144.25$ with targets at 1140.30$ next 1136.60$ in extension.

Gold – Daily Chart Support and Resistance levels

Resistance: 1160.00, 1166.90, 1170.00, 1174.50, 1190.00, 1206.00, 1210.00
Support: 1140.00, 1130.00, 1115.00, 1090.00,

Crude Oil – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 51.65$ with targets at 52.15$ next 53.00$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 51.65$ with targets at 50.75$ next 50.25$ in extension.

Crude Oil – Daily Chart Support and Resistance levels

Resistance: 54.00, 55.00, 57.00, 58.00
Support: 50.60, 50.00, 48.70, 47.50, 46.80

Silver – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 15.00$ with targets at 15.15$ next 15.30$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 15.00$ with targets at 14.85$ next 14.70$ in extension.

Silver – Daily Chart Support and Resistance levels

Resistance: 16.00, 16.50, 16.80, 17.20
Support: 14.80, 14.60, 14.00, 13.80

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.

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