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 1125.60$ with targets at 1135.80$ next 1143.90$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1125.60$ with targets at 1117.50$ next 1107.30$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1140.00, 1150.00, 1166.90, 1170.00, 1174.50, 1190.00
Support: 1126.00, 1108.00, 1102.00, 1090.00, 1079.00, 1070.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 41.75$ with targets at 42.70$ next 44.10$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 41.75$ with targets at 40.30$ next 39.40$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 44.00, 46.00, 48.00, 50.00, 51.00, 52.00
Support: 41.40, 41.00, 40.00
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 15.10$ with targets at 15.40$ next 15.60$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 15.10$ with targets at 14.90$ next 14.55$ in extension.
Silver – Daily Chart Support and Resistance levels
Resistance: 15.40, 15.60, 16.00, 16.50, 16.80
Support: 15.00, 14.60, 14.30, 14.00, 13.80, 13.50
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.
