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 1220.60$ with targets at 1230.55$ next 1235.80$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1220.60$ with targets at 1215.30$ next 1205.40$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1230.00, 1236.00, 1253.00
Support: 1210.00, 1200.00, 1174.00, 1168.00, 1160.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 60.25$ with targets at 61.15$ next 61.75$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 60.25$ with targets at 59.65$ next 58.75$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 63.00, 63.65, 65.00
Support: 59.00, 58.00, 55.70, 54.00, 52.50
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 17.40$ with targets at 17.75$ next 17.95$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 17.40$ with targets at 17.25$ next 16.90$ in extension.
Silver – Daily Chart Support and Resistance levels
Resistance: 17.80, 18.00, 18.50
Support: 17.40, 17.00, 16.80, 16.00, 15.55
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.
