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 1179.90$ with targets at 1186.70$ next 1194.30$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1179.90$ with targets at 1172.30$ next 1165.50$ in extension.
Gold – Daily Chart Support and Resistance levels
Resistance: 1190.00, 1206.00, 1210.00, 1215.00, 1232.00
Support: 1168.00, 1160.00, 1150.00, 1140.00
Crude Oil – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 58.55$ with targets at 59.05$ next 59.80$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 58.55$ with targets at 57.80$ next 57.30$ in extension.
Crude Oil – Daily Chart Support and Resistance levels
Resistance: 62.00, 63.00, 63.65, 65.00
Support: 57.90, 56.50, 55.70, 54.00, 52.50
Silver – Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 15.75$ with targets at 15.90$ next 16.10$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 15.75$ with targets at 15.50$ next 15.40$ in extension.
Silver – Daily Chart Support and Resistance levels
Resistance: 16.00, 16.50, 16.80, 17.20, 17.40, 17.80
Support: 15.40, 15.30, 14.80
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.
