Jan 02 2015, 07:00 GMT

Shady Bahouth

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

Bearish scenario: Short positions below the daily pivot point 1189.15$ with targets at 1174.45$ next 1164.75$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1189.15$ with targets at 1198.85$ next 1213.60$ in extension.

Gold – Daily Chart Support and Resistance levels

Resistance: 1210.90, 1221.00, 1240.00, 1256.20, 1277.00
Support: 1170.70, 1160.00, 1140.00, 1130.00

Crude Oil – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 53.25$ with targets at 54.05$ next 54.85$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 53.25$ with targets at 52.45$ next 51.65$ in extension.

Crude Oil – Daily Chart Support and Resistance levels

Resistance: 55.15, 59.30, 63.90, 64.20, 68.25
Support: 52.40, 52.00, 51.60, 51.00, 50.00

Silver – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 16.15$ with targets at 16.75$ next 16.95$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 16.15$ with targets at 15.95$ next 15.40$ in extension.

Silver – Daily Chart Support and Resistance levels

Resistance: 16.50, 16.80, 17.40, 17.50, 17.80
Support: 15.50, 15.00, 14.15

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.

More Details