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 1179.80$ with targets at 1185.80$ next 1194.75$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1179.80$ with targets at 1170.90$ next 1164.90$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1192.00, 1204.00, 1215.00, 1232.00
Support: 1170.00, 1160.00, 1150.00, 1140.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 60.50$ with targets at 61.65$ next 63.00$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 60.50$ with targets at 59.20$ next 58.00$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 62.00, 63.00, 63.65, 65.00
Support: 58.70, 56.50, 55.70, 54.00, 52.50
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 16.05$ with targets at 16.20$ next 16.40$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 16.05$ with targets at 15.80$ next 15.65$ 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: 15.75, 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.
